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David Bonderman, the lawyer turned non-public fairness pioneer, has died at age 82.
Within the early Nineties, Bonderman co-founded Texas Pacific Group and led the buyout of Continental Airways. That deal cemented his standing as a turnaround tycoon, placing put him to a category of financiers, corresponding to Henry Kravis and Stephen Schwarzman, who have been daring sufficient to accumulate among the largest firms within the US.
Bonderman got here into the world of high-stakes non-public fairness offers from an unconventional route after first making his identify as a lawyer and preservationist.
Bonderman efficiently defended Raymond Dirks, a Wall Avenue analyst who had been charged with insider buying and selling within the Seventies, in the end successful an enchantment on the US Supreme Courtroom. The ruling later grew to become a landmark resolution in US securities fraud regulation.
After a authorized profession that included a stint on the US Division of Justice and on the regulation agency Arnold & Porter, he went to work for oil tycoon Robert Bass in Texas. Bass knew Bonderman from his professional bono work as a preservationist lawyer who efficiently petitioned towards the tear down of the beaux-arts masterpiece in New York’s Grand Central prepare station.
Bonderman met Jim Coulter whereas working for Bass and the duo would then lead the rescue of Continental Airways. That deal proved to be the precursor to the creation of TPG, the now publicly listed non-public capital group that manages nearly $250bn in belongings.
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