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reaching out

TPG lending hand to DACA workers

A demonstrator holds a sign outside Federal Plaza in Chicago while protesting the end of the Deferred Action for Childhood Arrivals program last month.

TPG Capital LP is taking steps to support some portfolio company employees who could be affected by the recently rescinded Deferred Action for Childhood Arrivals program.

Jim Coulter and Jon Winkelried, co-CEOs based in the San Francisco office of private equity firm TPG, signed a Sept. 20 letter in support of DACA recipients, the second since August. Messrs Coulter and Winkelried are among more than 800 business leaders who have signed the letter asking congressional leaders to immediately pass a bill replacing the DACA program.

DACA gives roughly 800,000 young people who were brought to the U.S. without documentation as children the right to work and study in the U.S. legally. On Sept. 5, President Donald Trump rescinded DACA and urged Congress to advance immigration reform.

TPG also is partnering with its portfolio companies to help pay the application fee, and in some cases, legal fees, of DACA recipients whose legal status ends March 5, 2018, according to sources. Those DACA recipients face an Oct. 5, 2017, deadline to renew their status.

Among the other executives who signed the second letter are Jeremy Levine, partner at Bessemer Venture Partners; John Doerr, chairman, and Brook Byers, a founding member and adviser to venture capital firm Kleiner Perkins Caufield & Byers; Susan Lyne, president and founding partner of venture capital firm BBG Ventures LLC and Reid Hoffman, partner at venture capital firm Greylock Partners. Also signing the letter was John Atkinson, managing partner at consulting firm Willis Towers Watson PLC and Warren E. Buffett on his own behalf.