Dry Powder: The Private Equity Podcast Profile of an Industry Innovator w/ TPG’s Jim Coulter
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Feb 11, 2025 Jim Coulter, co-founder of TPG and a key figure in private equity, reflects on the legacy of his mentor David Bonderman. He shares insights on the essential skills for board dynamics and how unique personal traits, such as humor, foster effective problem-solving. Coulter discusses the importance of building horizontal relationships over traditional hierarchies for collaboration in investing. He also emphasizes transformative investment strategies that prioritize problem-solving, highlighting significant investments like Continental Airlines and the shift toward climate solutions.
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Junior vs. Senior Skills
- Private equity requires two skill sets: junior skills (analysis, due diligence) and senior skills (influence, problem-solving).
- The industry must cultivate senior skills to retain creativity.
Continental Airlines Bankruptcy
- Continental Airlines was the biggest bankruptcy outside of financial institutions, and the most hated company.
- No one wanted to invest, but Coulter and Bonderman saw an opportunity.
Uber Investment
- Coulter mentions investing in Uber when it was only in San Francisco as an example of problem-solving investing.
- No one knew if Uber's model could scale, but TPG invested to help them solve these problems.