TPG Capital is reportedly nearing a deal to acquire Ellucian in a transaction that could value the company at $3.5 billion, including debt. Ellucian is a provider of software solutions and professional business services to higher education institutions. Its products and services help colleges and universities manage their core administrative functions such as finance, human resources, student information and fundraising. Current owners Hellman & Friedman and JMI Equity initially created the software company in 2012 after combining existing portfolio company Datatel (acquired in 2009) with the SunGard Higher Education business. According to reports, a deal could be announced later this month, pending negotiations.