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TPG executive on indefinite leave after being charged in college bribery scheme

TPG Capital Management LP has placed William McGlashan Jr. on indefinite administrative leave, effective immediately, Reuters reported, citing an emailed statement from a TPG spokesperson.

McGlashan, managing partner of TPG Growth and CEO of The Rise Fund, was among those charged for conspiracy to commit mail and wire fraud related to an alleged bribery scheme to secure the admission of students to top universities across the U.S.

TPG co-CEO Jim Coulter will be interim managing partner of TPG Growth and The Rise Fund, according to the spokesperson.