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Jun 30, 2023
TPG Q2 2023 Earnings Report
Reported an increase in assets under management and fee-related earnings, demonstrating the strength of the business model.
Key Takeaways
TPG reported GAAP net income attributable to TPG Inc. of $27 million for the second quarter ended June 30, 2023. Fee-Related Earnings increased by 23% year-over-year to $125 million, resulting in a Fee-Related Earnings margin of 44%. Total assets under management reached $139 billion as of June 30, 2023, a 9% increase compared to the previous year.
Assets under management increased to $139 billion as of June 30, 2023, a 9% increase year-over-year.
GAAP net income attributable to TPG Inc. was $27 million for the second quarter ended June 30, 2023.
Fee-Related Earnings increased by 23% year-over-year to $125 million, with a Fee-Related Earnings margin of 44%.
After-tax Distributable Earnings were $96 million, or $0.26 per share of Class A common stock, for the second quarter ended June 30, 2023.
Forward Guidance
This press release contains forward-looking statements regarding the company's future business and financial performance, which are subject to risks and uncertainties.
Challenges Ahead
- The inability to complete and recognize the anticipated benefits of the acquisition of Angelo, Gordon & Co., L.P. and AG Funds L.P. 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
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Avg. Return Before/After Earnings
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