Private equity funds have not made a major foray into the financial services universe. They tend to stay away from highly regulated industries with capital requirements. Will the credit crunch change that? The TPG-Washington Mutual deal certainly is an eye-catcher. We'll see if TPG comes to rue the moment it signed on. Several sovereign wealth funds and other investors (notably Joseph Lewis) may be in that camp already. You have to wonder what operational and management support TPG will be able to offer. They apparently will get a seat on the board. Can it really do much beyond provide capital? You could argue WaMu is sorely in need of a new vision.  

For more:
- here's some background from MarketWatch

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