Washington Mutual is negotiating for a $5 billion infusion of capital from private-equity firm TPG and other investors, the Wall Street Journal reported Sunday evening on its web site.

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Washington Mutual is negotiating for a $5 billion infusion of capital from private-equity firm TPG and other investors, the Wall Street Journal reported Sunday evening on its Web site.

The reported deal as WaMu struggles with accumulating lending losses that have driven its shares down 75 percent in 12 months. Friday its shares fell 11.5 percent to $10.17, valuing the entire company at $8.97 billion.

The Journal said TPG is in talks to take “a substantial minority holding” in WaMu that would remain below 25 percent. Its investment would take the form of common and preferred stock.

Other investors in the group “include large current WaMu shareholders, and may also involve other buyout firms,” the Journal reported.

If the investment deal is finalized, WaMu CEO Kerry Killinger would retain the post he’s held since 1990.