9.21.2009

Corzine and TPG-Axon - Casino Connection?

New Jersey Governor Jon Corzine's investment in hedge fund TPG-Axon is accused of being a conflict of interest. The charges relate to TPG-Axon's parent, multi billion dollar private equity firm, Texas Pacific Group.

There is plenty of information available on the web with regard to the actual allegations, but since little useful information is provided we will provide a little background.


Texas Pacific Group
Contact Info (Primary):
301 Commerce Street, Suite 3300
Fort Worth, TX 76102
(817) 871-4000 phone
(817) 871-4010 fax
www.tpg.com

Firm Type: Private Equity

AUM: $45 billion

Key People:
Founding Partner: David Bonderman
Founding Partner: James G. (Jim) Coulter
Partner, Operations: Richard W. (Dick) Boyce

Principal Competitors: Kohlberg Kravis Roberts & Co.; Hicks, Muse, Tate & Furst Incorporated; Clayton, Dubilier & Rice, Inc.

Other Info: TPG is headquartered in Fort Worth, TX and San Francisco, CA. The firm also has offices in 8 countries. Texas Pacific Group's largest private equity fund is TPG Partners VI, an almost $20 billion global buyout fund launched in 2008.


TPG-Axon Capital Management
Contact Info:
888 Seventh Avenue, Floor 38
New York, NY 10106-3899
(212) 479-2000 phone

Firm Type: Hedge Fund

Founded: 2005

2009 AUM: $10.7 billion

Key People:
  • Dinakar Singh - Founder and CEO
  • 31 Employees
Other Info: TPG-Axon is a global macro hedge funds ranks as the 25th largest US hedge fund by assets under managerment as of August 2009.

Largest Holdings (as of June 30, 2009):
Hewlett Packard - $429 million
Pepsico - $312 million
Oracle - $304 million
Microsoft - $278 million
JP Morgan - $277 million



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