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TPG Inc. reported strong financial results for Q3 2022, with total assets under management reaching $135 billion, a 24% increase year-over-year. The company reported a GAAP net income of $37 million for the quarter and $69 million for the nine-month period. Fee-Related Earnings stood at $121 million for the quarter. TPG announced a quarterly dividend of $0.26 per share, payable on December 2, 2022. The results underline the firm's robust fundraising and operational performance amidst a challenging market.
Positive
Total assets under management increased 24% year-over-year to $135 billion.
GAAP net income of $37 million for Q3 2022.
Fee-Related Earnings of $121 million with a 43% margin for the quarter.
Quarterly dividend announced at $0.26 per share.
Negative
None.
Total assets under management of $135 billion as of September 30, 2022, an increase of 24% compared to $109 billion as of September 30, 2021
GAAP net income attributable to TPG Inc. of $37 million and $69 million for the three and nine months ended September 30, 2022, respectively
Fee-Related Earnings of $121 million and $315 million for the three and nine months ended September 30, 2022, resulting in Fee-Related Earnings margins of 43% and 40% over the same periods, respectively
After-tax Distributable Earnings of $113 million (or $0.30 per share of Class A common stock) for the quarter ended September 30, 2022
Announced dividend of $0.26 per share of Class A common stock for the quarter ended September 30, 2022
SAN FRANCISCO & FORT WORTH, Texas--(BUSINESS WIRE)--
TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, reported its unaudited third quarter 2022 results. TPG issued a full detailed presentation of its quarter ended September 30, 2022 results, which can be viewed through the Investor Relations section of TPG’s website at shareholders.tpg.com.
“Our financial results for the third quarter demonstrate the strength and resilience of our business amid the volatile market backdrop. We generated significant quarter-over-quarter growth in management fees, operating margins, and fee-related earnings,” said Jon Winkelried, Chief Executive Officer. “Our total AUM reached $135 billion at quarter end, an increase of 24% year-over-year, which was driven by strong fundraising activity across our business. Given the success of our ongoing fundraising campaigns, we had a record $46 billion of capital available for investment at the end of the third quarter and believe we are well-positioned to continue executing on high quality opportunities in our core thematic areas.”
Dividend
TPG has announced a quarterly dividend of $0.26 per share of Class A common stock to holders of record at the close of business on November 21, 2022, payable on December 2, 2022.
Conference Call
TPG will host a conference call and live webcast at 11:00 a.m. ET. It may be accessed by dialing (800) 343-4849 (US toll-free) or (203) 518-9856 (international), using the conference ID TPGQ322. The number should be dialed at least ten minutes prior to the start of the call. A simultaneous webcast will also be available and can be accessed through the Investor Relations section of TPG’s website at shareholders.tpg.com. A webcast replay will be made available on the Events page in the Investor Relations section of TPG’s website.
About TPG
TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $135 billion of assets under management and investment and operational teams in 12 offices globally. TPG invests across five multi-product platforms: Capital, Growth, Impact, Real Estate, and Market Solutions and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.
Forward Looking Statements
This press release contains “forward-looking” statements based on the Company’s beliefs and assumptions and on information currently available to the Company. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects” and similar references to future periods, or by the inclusion of forecasts or projections. Examples of forward-looking statements include, but are not limited to, statements we make regarding the outlook for our future business and financial performance, business strategy and plans and objectives of management for future operations, including, among other things, statements regarding expected growth, future capital expenditures, fund performance, dividends and dividend policy and debt service obligations.
Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by any forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, among various other risks.
For the reasons described above, we caution you against relying on any forward-looking statements, which should be read in conjunction with the other cautionary statements and risk factors discussed from time to time in the Company’s filings with the SEC, which can be found at the SEC’s website at http://www.sec.gov. Any forward-looking statement in this press release speaks only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update or revise any forward-looking statement after the date of this press release, whether as a result of new information, future developments or otherwise, except as may be required by law. No recipient should, therefore, rely on these forward-looking statements as representing the views of the Company or its management as of any date subsequent to the date of the press release.
This press release does not constitute an offer of any TPG Fund.
