Bloomberg Talks TPG's Jim Coulter Talks the Life and Legacy of David Bonderman
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Dec 13, 2024 Jim Coulter, co-founder of TPG, shares insights on his long-time business partner, David Bonderman, a private equity legend. They discuss Bonderman's innovative deal-making strategies, like transforming Continental Airlines and the 'good bank, bad bank' model during the SNL crisis. Coulter highlights their unique partnership that evolved from a small team into a powerhouse in the industry, emphasizing curiosity and collaboration. Memorable anecdotes reveal Bonderman's generosity and respect for people, underscoring his lasting legacy in investing.
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Bonderman's Dealmaking Approach
- David Bonderman viewed dealmaking as problem-solving, tackling complex deals others avoided.
- Examples include Continental Airlines, the "most hated company," and successful airline investments despite industry skepticism.
Polymath Investor
- Bonderman was a polymath investor with diverse interests, applying broad knowledge to problem-solving.
- His non-financial background (law, teaching) gave him a unique perspective in investing.
Bonderman's Eccentric Style
- Bonderman's style was eclectic, favoring informality and directness over Wall Street traditions.
- He embraced his unique personality, from his "ridiculous socks" to his preference for Diet Coke over wine.