The Occasions-Picayune is marking the tricentennial of New Orleans with its ongoing 300 for 300 challenge, working by way of 2018 and highlighting 300 individuals who have made New Orleans New Orleans, that includes unique paintings commissioned by NOLA.com | The Occasions-Picayune with The place Y’Artwork gallery. At this time: investor Jim Coulter.
The legacy: Jim Coulter is not from New Orleans, however he married a New Orleans lady, Penny Saer — which, let’s be sincere, is the subsequent neatest thing. So, when the town lay in ruins following 2005’s Hurricane Katrina, he, like many individuals, needed to do one thing. In contrast to most individuals, although, he was in a novel place to take action, because the billionaire proprietor of the San Francisco-based TPG, one of many largest non-public fairness companies on the planet. Not solely did he quietly start investing within the storm-ravaged metropolis however actively researching the best way to greatest rebuild New Orleans’ enterprise infrastructure and inspiring different traders and entrepreneurs to wager on the Crescent Metropolis. He was, in different phrases, there when New Orleans wanted him most — and he nonetheless is.
The artist: Sean Randall.
The quote: “He dared to consider in us and adopted by way of with focus and dedication.” — Merritt Lane, on Jim Coulter
Discover extra of Sean Randall’s work on-line at WhereYart.internet and in individual on the The place Y’Artwork gallery, 1901 Royal St.
Coulter was born in 1959 in Buffalo, New York. He’s a 1982 Phi Beta Kappa, summa cum laude graduate of Dartmouth, and he acquired an MBA from the Stanford Faculty of Enterprise in 1986.
He co-founded TPG in 1992 with enterprise companion David Bonderman. TPG stands for “Texas Pacific Group.”
As of August 2017, TPG had $73 billion in property underneath administration, in keeping with Forbes journal. That ranks it as one of many world’s largest private-equity companies.
The corporate’s first large funding got here in 1993, within the type of a $66 million stake in Continental Airways, which on the time was going through chapter. It reportedly made TPG a $640 million revenue.
It has invested in a variety of enterprise sectors, together with healthcare, biotech, prescribed drugs, actual property, leisure and finance.
In 2000, it began the journey web site Hotwire, the primary firm it created. Others which have adopted embrace the movie studio STX Leisure.
Coulter comes at No. 371 on Forbes’ listing of U.S. billionaires.
After Hurricane Katrina, Coulter flew in a lot of Stanford MBAs to assist brainstorm methods to rebuild the town’s enterprise infrastructure. That effort grew into New Orleans Entrepreneur Week, an annual showcase of entrepreneurial expertise hosted by The Thought Village.
He funds and participates within the annual Coulter Problem pitch competitors, an Enterpreneur Week spotlight.
“At the hours of darkness days after Katrina, Jim instilled confidence in a nascent group of small, unknown corporations,” the Krewe of Nieux, made up of native businesspeople, wrote of Coulter. “He made us consider that we may rebuild and be an actual metropolis once more. That we may appeal to consideration and funding from individuals in Silicon Valley and New York. In brief, Jim gave us our swagger again.