Seattle Kraken Owner Bonderman Mourned

SEATTLE’S BEST: Seattle Kraken President Tod Leiweke, from left, Amazon CEO Andy Jassey, Seattle Kraken Majority Owner David Bonderman, NHL Commissioner Gary Bettman, Seattle Mayor Jenny Durkan and Oak View Group CEO Tim Leiweke cut the ceremonial ribbon at Climate Pledge Arena in October 2021. (Courtesy venue)

Private Equity Pioneer Also Had Stake in the Celtics

David Bonderman, founding owner of the NHL Seattle Kraken who oversaw the transformation of KeyArena into Climate Pledge Arena is being mourned following his death on Dec. 11. Bonderman was 82.

A billionaire and businessman, Bonderman was founding partner of TPG Capital, and its Asian affiliate, Newbridge Capital.

He was also one of the minority owners of the NBA’s Boston Celtics as well as the co-founder and co-majority owner of the Kraken.

The New York Times, in its obituary on the Los Angeles native, called Bonderman a “globe-trotting lawyer turned investor” who helped transform the private equity business from “a cottage industry into a colossus with influence on Wall Street and beyond.”

Bonderman led the effort to bring the NHL’s 32nd franchise to Seattle and also co-led the effort to build Climate Pledge Arena, according to a statement by Oak View Group, parent company of VenuesNow, that called him a “friend and partner.”

“David’s legacy is one of brilliance at every stage of his remarkable career,” according to OVG. “His pursuit of knowledge and his passion for music, sports, adventure and conservation have left a mark on all who had the privilege to know him.”

Climate Pledge Arena is regarded as one of, if not the most sustainable venue of its kind.

A statement issued on behalf of the Bonderman family, TPG, Wildcat Capital Management and the Kraken said that “Bondo,” as he was known to friends and colleagues, was a devoted father of five and grandfather of three.

Bonderman graduated Phi Beta Kappa from the University of Washington in 1963 with a major in Russian studies, which is where he developed his love for Seattle.

He went to Harvard Law School where he was a member of the Harvard Law Review, and received a Sheldon Fellowship, which sponsored him to travel abroad for a year of research and discovery, before graduating Magna Cum Laude in 1966.

While abroad, he visited Egypt and the Middle East where he studied Islamic law and became fluent in Arabic, leading to his creation and endowment of the Bonderman Fellowships at the University of Washington.

Bonderman served briefly as an assistant professor at Tulane University School of Law before moving to Washington, D.C., to be Special Assistant to the U.S. Attorney General in the Civil Rights Division from 1968 to 1969 during the Johnson administration.

He litigated racial discrimination cases in the South before joining the law firm of Arnold & Porter in Washington, D.C., where he specialized in antitrust, securities law, corporate law, bankruptcy and historic preservation.

Bonderman later moved to Fort Worth, Texas to help manage the family investment business of Robert Bass, but eventually returned to Seattle.

He was a member of the board of directors and a financial supporter of the Rock and Roll Hall of Fame.

“Above all else, he valued his family and the time he spent with them,” according to the family’s statement. “He was a devoted father and grandfather to his five children and three grandchildren. He prioritized family trips, middle and high school sporting events, family card games, and weekly donut runs.”

A statement from his children said: “We are all grateful for having experienced his wisdom, wit, generosity, and love. His zest for life, and his passions, especially sports and music, were infectious. He was always there for his friends and family, and we will miss him greatly.”