Loading...
•
Mar 31, 2023
TPG Q1 2023 Earnings Report
Reported first quarter 2023 results, demonstrating the durability of their fee-related earnings-centric business model and announcing the strategic acquisition of Angelo Gordon.
Key Takeaways
TPG reported its first quarter 2023 results, with $137 billion in assets under management, a net income of $25 million, and Fee-Related Earnings of $99 million. They also announced the acquisition of Angelo Gordon.
Total assets under management of $137 billion as of March 31, 2023, an increase of 14% compared to March 31, 2022.
GAAP net income attributable to TPG Inc. of $25 million for the first quarter ended March 31, 2023, with basic net income per share to Class A common stock of $0.27
Fee-Related Earnings of $99 million for the first quarter ended March 31, 2023, resulting in a Fee-Related Earnings margin of 37%
After-tax Distributable Earnings of $88 million (or $0.24 per share of Class A common stock) for the first quarter ended March 31, 2023
Forward Guidance
TPG is well-positioned to deploy capital across its core sectors and themes in an increasingly favorable environment, with a near record $43 billion of dry powder and a growing pipeline of attractive investment opportunities. The acquisition of Angelo Gordon unlocks new avenues for growth, product innovation, and client engagement.
Challenges Ahead
- The inability to complete and recognize the anticipated benefits of the acquisition of Angelo Gordon on the anticipated timeline or at all.
- Purchase price adjustments
- Unexpected costs related to the transaction and the integration of the Angelo Gordon business and operations
- Our ability to manage growth and execute our business plan
- Regional, national or global political, economic, business, competitive, market and regulatory conditions, among various other risks.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...