News & Analysis

TPG loses remaining $1.3bn stake in WaMu collapse

The biggest bank failure in US history is also one of the biggest publicly disclosed private equity losses in history. TPG has stressed that the investment represented only a small portion of its diversified assets.

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Washington Mutual

TPG effectively lost its remaining $1.3 billion (€900 million) stake in Washington Mutual yesterday when the US savings and loan was seized by federal regulators and then sold it deposits and loan portfolio assets to JPMorgan.

The private equity firm in April invested $2 billion into WaMu, whose shares are now worthless.

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