Word: coulters
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...past year. But ever since the Continental deal--which brought Bonderman and his partners 10 times their original investment--Texas Pacific has made a profitable habit of picking up airlines so far down on their luck that nobody wants them. "We're contrarian by nature," says co-founder Jim Coulter. "On many of our best deals, friends in the business call to say, 'If it wasn't you guys, we'd think it was crazy...
...greatest strengths, say investment insiders, are patience and timing. Texas Pacific sat out the hottest stock market in history. From May 2000 to September 2001, it did not make one purchase, while unloading more than $2 billion in holdings for its institutional investors. Says Coulter: "Since Sept. 11, there's been a lot more panic, and things have gotten considerably more interesting...
...without bankruptcy. But TPG, while encouraged by union concessions, was adamant that the airline undergo a thorough restructuring in the courts to write off debt. Texas Pacific is content to wait and work at turning around the airline. "We tend to like complex things. We're problem solvers," says Coulter...
Bonderman and Coulter learned from the best; they worked for one of the billionaire Bass brothers, Robert, in Fort Worth during the 1980s before opening Texas Pacific with lawyer William Price III in 1993. When European newspapers write about TPG's deals there, they love to run cartoons of the Texas raiders in cowboy hats. But none of the co-founders fell off a watermelon truck. Bonderman, 59, a skilled negotiator, is a Harvard law graduate. Coulter, 42, the savvy stock picker, is a Stanford M.B.A. Price, 46, who figures out how to restructure the distressed firms in which...
...campus. Instead, the administration merely asks for notification after a speaker has been invited in case that person is deemed important enough for an official University welcome. Indeed, Grech states that HRC “never notified anyone” before bringing controversial figures David Horowitz and Ann Coulter to campus earlier this year...