FORT WORTH, Texas — This story was originally published by our content partners at the Dallas Business Journal. You can read the original version here.
David Bonderman, the co-founder of Fort Worth-based private equity giant TPG Inc. and owner of the NHL's Seattle Kraken, has died at the age of 82.
Bonderman died Dec. 11, according to a statement from his family, TPG, his family office and the Kraken. They did not disclose a cause of death.
"'Bondo' as he was known to friends and colleagues, leaves behind a legacy marked by brilliance at every stage of his illustrious career combined with a relentless quest for knowledge and a passion for music, sports, adventure, and conservation," the statement read. "David was a true friend to many and, above all else, a devoted father of five and grandfather of three."
Born in Los Angeles in 1942, Bonderman graduated with a major in Russian from the University of Washington and later earned a law degree from Harvard University. He went on to work as an assistant professor at Tulane University School of Law before moving to Washington, D.C. and working in the Department of Justice during President Lyndon Johnson's administration, where he litigated cases involving racial discrimination in the South.
Bonderman worked at the law firm Arnold & Porter in D.C. where he specialized in antitrust, securities law, corporate law, bankruptcy and historic preservation. Near the end of his tenure at Arnold & Porter, Bonderman represented Raymond Dirks before the U.S. Supreme Court in a landmark insider trading case.
Bonderman also met Robert Bass, a billionaire and member of the prominent Bass family in Fort Worth. Bass hired Bonderman as his attorney in a dispute with the Texas Department of Transportation. After Bonderman helped resolve the case successfully, Bass asked him to move to Fort Worth to help manage his family's investment business.
Despite telling Bass he knew nothing about investing, he moved to Fort Worth and became chief operating officer of the Bass Group. There, he earned a reputation for taking on groundbreaking deals and not shying away from difficult corporate turnarounds. It was also at Bass Group that he met Jim Coulter, his business and investing partner for more than 38 years.
Bonderman and Coulter left Bass in 1992 and bid to acquire Continental Airlines out of bankruptcy. The following year, they partnered with Bill Price to found TPG, which has since grown into a publicly traded investment giant with $239 billion in assets under management and 28 offices around the world. TPG went public at a $9 billion valuation in 2022.
During his lengthy career, Bonderman served on more than 80 corporate boards, including Continental, General Motors, Ducati, MGM, Univision and Korea First Bank.
His family's statement described Bonderman as "rarely the loudest person in the room, but often the smartest." He once said his personal strength was, “Not knowing a lot about something but knowing enough to make a decent decision."
"Despite David’s success, he never changed," the family's statement read. "He remained curious, meeting constantly with young entrepreneurs to learn about their ideas. And he possessed an extraordinary set of interests and pursuits that took him all over the world and created friendships across the business, sports, music, philanthropic, environmental, conservation, and academic communities."
Outside of business, Bonderman advocated for a range of causes, particularly those related to environmental conservation, education and health care. He served on the boards of the Wilderness Society, World Wildlife Fund, American Himalayan Foundation and the Grand Canyon Trust. He was also a member of the board and a strong financial supporter of the Rock and Roll Hall of Fame.
In 2018, Bonderman returned to Seattle, where he had worked as a security guard at the Space Needle while in college, and led the effort to launch the Seattle Kraken as the NHL’s 32nd franchise. He also co-led the effort to construct the Climate Pledge Arena. The Kraken played their inaugural season in 2021 and are now in their fourth season.
Bonderman received the Golden Plate Award from the American Academy of Achievement, the Woodrow Wilson Award of Corporate Citizenship in 2018 was inducted into the Texas Business Hall of Fame.
