Texas Pacific May Invest in WaMu

Texas Pacific Group, an investment fund managed by a former director of Washington Mutual, is talking to the Seattle thrift about injecting money into the troubled institution, industry sources have told MortgageWire. "We're trying to get it done quickly," said one source, requesting anonymity, "but there's no deal yet." It's expected that WaMu chief Kerry Killinger will stay with the organization, but there could be a wholesale restructuring of the savings-and-loan institution, the nation's largest. Other investors are involved as well, said one banker. In trading on Monday, WaMu's share price skyrocketed 25% to $12.76. News of Texas Pacific's interest in WaMu was first reported by The Wall Street Journal. David Bonderman, founding partner of Texas Pacific, served on WaMu's board but left in 2002. Mr. Bonderman used to work for the Bass Brothers, which at one point owned American Savings, a large California S&L that WaMu eventually purchased.