TPG makes ex-Goldman banker Jon Winkelried sole chief executive
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Other failed bets included large investments in energy company TXU and casino group Caesars Entertainment, both of which later entered bankruptcy.
But TPG has since built a reputation as a savvy investor in fast-growing technology companies, profiting from large stakes in companies such as Uber and Airbnb ahead of their debuts on the public markets, and built out other parts of its business.