Becuase they needed funding to intimidate Pete Bennett so the UC System could kidnapped his sons
The folks at TPG will have to answer to my Whistleblower Complaints on the truly odd collection of RFPs emanating from companies connected to Richard Blum, William McGlashan, CBRE, Regency Centers, Trammel Crow, Lennar, Catellus, My story is about witness murders, private equity, mergers and acquisitions linked back to the Matter of Bennett v. Southern Pacific lost in 1989. It was a winnable case as long the witnesses testified.
This piece is co-published with investigative reporting outlet Capital & Main.
University of California regents approved a nine-figure investment in a private equity fund run by a major donor to Democratic Senator Dianne Feinstein, whose husband sits on the regents’ board. The investment was disclosed just as some of the private equity fund’s overseers and advisers were pumping thousands of dollars of donations into Feinstein’s campaign, according to documents reviewed by Capital & Main.
Since 1992, Bonderman and his wife have donated more than $32,000 to Feinstein’s political campaigns. Additionally, donors associated with the RISE fund’s board and advisory panel have contributed more than $65,000 to Feinstein’s campaigns and political action committee. That includes $15,400 of donations in the three-week period surrounding the disclosure of UC’s investment in the RISE fund. Those donations came from Salesforce founder Marc Benioff and his wife, Lynne, as well as from Ariel Investments president Mellody Hobson. Marc Benioff and Hobson, who is married to George Lucas of Star Wars fame, sit on the RISE Fund’s Founders Board.
In general, securities laws require public officials to make investment decisions on the basis of merit, not personal relationships or political contributions. A 2010 Securities and Exchange Commission rule was explicitly designed to deter financial firms from using campaign contributions to influence investment decisions.
Blum argues that there is no conflict of interest.
“I’ve never heard of the RISE Fund,” he told Capital & Main. “We used to be partners with TPG. We’ve done investments together. But I have nothing to do with TPG or the RISE Fund… [The University of California investment office] never checks with me on anything.”
Blum conceded that, in addition to his business and personal relationships with Bonderman and TPG, he also knows another top TPG and RISE Fund executive, Jim Coulter, and added, “I occasionally get together with [UC Chief Investment Officer] Jagdeep [Singh Bachher] and we talk about philosophy.”
Singh Bachher is in charge of oversight and management of UC’s investment in the RISE Fund.
Capital & Main asked TPG if it had disclosed its executives’ relationships with Blum and donations to Feinstein. In a statement, TPG said that it “adheres to the strongest compliance standards and all political donations are subjected to compliance review and clearance, and in the case of federal officials are publicly disclosed through the Federal Election Commission. TPG responded in the ordinary course to due diligence questions posed by UC in connection with its investment.”
The University of California forwarded the regents’ conflict of interest policy and made no other comment. Senator Feinstein did not respond to a request for comment by press time.
“The decision by the UC regents to make an investment in a fund run by a close friend and business partner of Richard Blum raises potential issues of institutional corruption,” said Jay Youngdahl, an attorney and pension expert. “When money saved for workers’ retirement is placed into high-fee investments that benefit those close to politicians, questions need to be asked and answered. Investment funds in several states have suffered problems with similar practices.”
Blum, Bonderman and the UC system are no strangers to controversy surrounding their investment and business practices.
Blum in recent years has faced questions about his overlapping business and political interests. In 2013, he was lambasted by investigative journalist Peter Byrne when Blum’s real estate firm, CBRE, got a $118-plus million contract to sell and lease U.S. Postal Service property. In 2015, the Postal Service’s inspector general recommended that the contract be terminated. Blum was also criticized by Michael Hiltzik of the Los Angeles Times for his role in using CalPERS, the state employees’ retirement fund, to purchase the for-profit higher education firm ITT. At the same time he was investing in ITT, which has now been shut down (at a significant loss to CalPERS), Blum was voting to increase UC tuition by 32 percent.
More recently, Blum Capital was blamed by Payless ShoeSource’s creditors for bankrupting the chain to provide $350 million in dividends to Blum Capital and its business partner on the deal, Golden Gate Capital. In the Blum and Golden Gate-initiated bankruptcy, Payless closed 700 stores, laid off hundreds and sued former employees to repay for small signing and relocation bonuses the company had given out.
Similarly, the SEC fined TPG $13 million for misleading investors in December 2017. In June 2017, Bonderman resigned from Uber’s board after making a comment widely seen as offensive to women. And in 2015, TPG was sued by its former communications director, Adam Levine, who had also worked as deputy press secretary for George W. Bush. Levine claimed in legal filings that the firm “miss-billed [sic] expenses, flouted compliance rules, and gave inaccurate information about its investment team,” according to Reuters. The lawsuit was dropped later in the year, according to the firm.
Meanwhile, the UC Retirement Plan has lately been engulfed in scandal over pay-to-play allegations.
In early September, the pension trade publication Institutional Investor published a report showing that the retirement system’s chief investment officer faced “serious charges of mismanagement.” The report also highlighted allegations from an anonymous tipster with inside information that Bachher had placed $250 million in a fund run by a former UC regent, Paul Wachter, who had participated in Bachher’s hiring. The investment was opposed by other top investment staff at UC, the article said.
The folks at TPG will have to answer to my Whistleblower Complaints on the truly odd collection of RFPs emanating from companies connected to Richard Blum, William McGlashan, CBRE, Regency Centers, Trammel Crow, Lennar, Catellus.
My story is about witness murders, private equity, mergers and acquisitions linked back to the Matter of Bennett v. Southern Pacific lost in 1989. It was a winnable case as long the witnesses testified.
William McGlashan Founder / CEO / Arrested/Indicted/Wire Fraud
Tarrant Capital Advisors, Inc.
SuccessFactors, Inc. : Pursued Bennett for special project building an applet for MS Outlook. Time wasting proposal just like several others
Tarrant v. Bennett / beyond obvious
The folks at TPG will have to answer to my Whistleblower Complaints on the truly odd collection of RFPs emanating from companies connected to Richard Blum, William McGlashan, CBRE, Regency Centers, Trammell Crow, Lennar, Catellus. and PG&E?
My story is about witness murders, private equity, mergers and acquisitions linked back to the Matter of Bennett v. Southern Pacific lost in 1989. It was a winnable case as long the witnesses testified.
This will updated next week with better Graphics.
One leg of my long story
Rylan Fuchs Friends with my sons Murdered 2011 Danville Chief of Police: Chris Wenzel
Lisa Dickinson
Missing Person 1976
Walnut Creek CA
Sister of Kevin Dickinson
Harve and Keiko Ringheim
Valley View Veterinary
Pleasant Hill CA
Murdered in Dublin CA
1986
SEC Form 4
FORM 4
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
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3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. The Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock (collectively, the "Preferred Stock") was automatically converted into common stock, par value $0.001 per share (the "Common Stock"), of SuccessFactors, Inc. (the "Issuer") on a one-for-one basis in connection with the closing of the Issuer's initial underwritten public offering. The Preferred Stock had no expiration date.
2. David Bonderman and the Coulter 2006 Management Trust, of which James G. Coulter is the sole trustee, are the sole shareholders of Tarrant Capital Advisors, Inc., a Delaware corporation. Mr. Bonderman and Mr. Coulter are also officers and directors of Tarrant Capital Advisors, Inc., which is the sole shareholder of Tarrant Advisors, Inc., a Texas corporation, which is the general partner of TPG Ventures Professionals, L.P., a Delaware limited partnership, which is the general partner of TPG Ventures Partners, L.P., a Delaware limited partnership, which is the managing member of TPG Ventures Holdings, LLC, a Delaware limited liability company, which is the sole member of TPG Ventures Advisors, LLC, a Delaware limited liability company, which is the general partner of TPG Ventures GenPar, L.P., a Delaware limited partnership, which in turn is the general partner of TPG Ventures, L.P., a Delaware limited partnership, which directly holds the shares reported herein.
3. Because of the relationships of David Bonderman, James G. Coulter and Tarrant Capital Advisors, Inc. (together, the "Reporting Persons") to TPG Ventures, L.P., the Reporting Persons may be deemed to beneficially own the securities directly owned by TPG Ventures, L.P. The Reporting Persons may also be deemed to beneficially own such securities to the extent of the greater of their direct or indirect pecuniary interest in the profits or capital accounts of TPG Ventures, L.P. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), this filing shall not be deemed an admission that the Reporting Persons are, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owners of any securities beneficially owned in excess of such amounts.
Remarks:
(4) Mr. Bonderman, Mr. Coulter and Tarrant Capital Advisors, Inc. are jointly filing this Form 4 pursuant to Rule 16a-3(j) under the Exchange Act. Messrs Bonderman and Coulter and Tarrant Capital Advisors, Inc. have entered into an Agreement of Joint Filing, dated as of November 12, 2007, which was previously filed with the Securities and Exchange Commission (the "SEC") as Exhibit 1 to the Schedule 13D filed with the SEC on November 13, 2007 (SEC File No. 005-57845) by TPG Advisors III, Inc., TPG Advisors IV, Inc., T3 Advisors II, Inc., David Bonderman and James G. Coulter. (5) Clive D. Bode is signing on behalf of both Mr. Bonderman and Mr. Coulter pursuant to the authorization and designation letters dated August 31, 2006, which were previously filed with the SEC.
/s/ Clive D. Bode, Vice President and Secretary(4)
11/28/2007
/s/ Clive D. Bode, on behalf of David Bonderman(4)(5)
11/28/2007
/s/ Clive D. Bode, on behalf of James G. Coulter(4)(5)
11/28/2007
** Signature of Reporting Person
Date
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