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1. Company Snapshot

1.a. Company Description

TPG Inc.operates as an alternative asset manager worldwide.It offers investment management services to unconsolidated funds, collateralized loan obligations, and other vehicles; monitoring services to portfolio companies; advisory services, debt and equity arrangements, and underwriting and placement services; and capital structuring and other advisory services to portfolio companies.


The company invests in private equity funds, real estate funds, fund of hedge funds, and credit funds.TPG Inc.was founded in 1992 and is headquartered in Fort Worth, Texas.


TPG Inc.operates as a subsidiary of TPG GP A, LLC.

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1.b. Last Insights on TPG

TPG Inc.'s recent performance was driven by strong Q2 2025 earnings, beating estimates with a reported EPS of $0.69 per share. The company's diversified business mix and solid backlog contributed to its outstanding results. The acquisition of Peppertree Capital Management added a differentiated investing strategy focused on wireless communications towers, delivering immediate scale in a core subsector. Additionally, TPG RE Finance Trust, a commercial real estate finance company, reported strong Q2 results, originating $695.6 million of total loan commitments and earning its common stock dividend.

1.c. Company Highlights

2. TPG's Strong Q3 2025 Earnings: A Closer Look

TPG reported a robust third quarter with total AUM growing 20% to $286 billion, driven by $44 billion of capital raised and $24 billion of value creation. Fee-related earnings (FRE) increased 18% year-over-year to $225 million, with a FRE margin of 44%, tracking well against the company's guidance of exiting the year with a margin in the mid-40s. The actual EPS came out at $0.53, slightly below estimates of $0.55.

Publication Date: Nov -11

📋 Highlights

Financial Performance Highlights

The company's distributable earnings for the third quarter were $230 million, including $30 million of realized performance allocations. The declared dividend of $0.45 per share of Class A common stock will be paid on December 1, 2025. TPG's credit platform appreciated 3% in the third quarter and 12% over the last 12 months, while the private equity portfolio appreciated 3% in the quarter and 11% over the last 12 months.

Fundraising and Deployment Success

TPG raised a near-record $18 billion of capital during the quarter, driven by a successful first close in its flagship private equity funds and strong credit fundraising. The company deployed a record $15 billion, up over 70% year-over-year, with its credit platform driving over half of the capital deployed. As Jon Winkelried mentioned, "Our fundraising success has been amplified by our increasing penetration into the fastest-growing distribution channels, including insurance and private wealth."

Valuation and Outlook

With a P/E Ratio of 142.14 and an EV/EBITDA of 64.65, the market is pricing in high expectations for TPG's future growth. Analysts estimate next year's revenue growth at 23.2%. The company's ROE is 3.51%, and the Dividend Yield is 3.47%. As TPG continues to execute on its growth strategy, its strong fundraising and deployment capabilities position it for continued success.

Growth Initiatives and Opportunities

TPG is focusing on diversifying its sources of capital and further penetrating the fastest-growing distribution channels. The company is also exploring opportunities in wealth and capital markets, with a growing presence in the private wealth space and an expanding distribution network. With a strong pipeline of realizations and a growing accrued but unrealized PRE performance allocation balance, TPG is well-positioned for future growth.

3. NewsRoom

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TPG to Present at the Goldman Sachs 2025 Financial Services Conference

Dec -02

Source: businesswire.com

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TPG Inc. $TPG Shares Purchased by Creative Planning

Dec -02

Source: defenseworld.net

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161,289 Shares in TPG Inc. $TPG Purchased by Boston Partners

Nov -29

Source: defenseworld.net

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TPG Inc. (NASDAQ:TPG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Nov -27

Source: defenseworld.net

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Australia's TPG Telecom says customer died after failed emergency call due to outdated software

Nov -17

Source: reuters.com

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TPG RE Finance Trust, Inc. Closes $1.1 Billion Commercial Real Estate CLO

Nov -17

Source: businesswire.com

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Pike Corporation to Accelerate Growth through Partnership with TPG, La Caisse and Management

Nov -17

Source: businesswire.com

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ABN Amro Investment Solutions Buys Shares of 61,579 TPG Inc. $TPG

Nov -14

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.90%)

6. Segments

Alternative Asset Management

Expected Growth: 9.9%

TPG's Alternative Asset Management growth of 9.9% is driven by increasing institutional investor demand for diversification, rising allocations to private equity and real assets, and the firm's expansion into new markets and strategies, such as impact investing and climate-focused funds.

7. Detailed Products

TPG Capital

TPG Capital is a private equity investment platform that manages multiple funds across various sectors, including healthcare, technology, and industrials.

TPG Rise Climate

TPG Rise Climate is a dedicated climate investing platform that focuses on investments in climate-positive companies and projects.

TPG Real Estate Partners

TPG Real Estate Partners is a real estate investment platform that focuses on opportunistic and value-add investments in various property types.

TPG Growth

TPG Growth is a middle-market investment platform that focuses on growth equity and minority investments in high-growth companies.

TPG Healthcare Partners

TPG Healthcare Partners is a healthcare-focused investment platform that invests in pharmaceuticals, biotechnology, and healthcare services.

8. TPG Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

TPG Inc. operates in a highly competitive industry, and there are many substitutes available to customers. However, the company's strong brand recognition and customer loyalty help to mitigate the threat of substitutes.

Bargaining Power Of Customers

TPG Inc. has a large customer base, and customers have significant bargaining power due to the availability of substitutes. The company needs to focus on customer retention and satisfaction to maintain its market share.

Bargaining Power Of Suppliers

TPG Inc. has a diversified supplier base, and suppliers have limited bargaining power. The company has a strong negotiating position, which helps to keep costs under control.

Threat Of New Entrants

The threat of new entrants is moderate, as there are barriers to entry in the industry. However, TPG Inc. needs to continuously innovate and improve its offerings to stay ahead of potential new entrants.

Intensity Of Rivalry

The industry in which TPG Inc. operates is highly competitive, with many players competing for market share. The company needs to focus on differentiating itself and improving its operational efficiency to stay competitive.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 64.92%
Debt Cost 10.90%
Equity Weight 35.08%
Equity Cost 11.85%
WACC 11.24%
Leverage 185.09%

11. Quality Control: TPG Inc. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Invesco

A-Score: 6.3/10

Value: 7.4

Growth: 2.9

Quality: 7.2

Yield: 7.0

Momentum: 7.5

Volatility: 5.7

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Franklin Resources

A-Score: 5.9/10

Value: 5.1

Growth: 3.4

Quality: 4.3

Yield: 8.0

Momentum: 6.5

Volatility: 8.0

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Affiliated Managers Group

A-Score: 5.7/10

Value: 5.8

Growth: 5.6

Quality: 6.8

Yield: 0.0

Momentum: 7.5

Volatility: 8.7

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Hamilton Lane

A-Score: 4.9/10

Value: 2.6

Growth: 6.1

Quality: 8.4

Yield: 4.0

Momentum: 2.0

Volatility: 6.0

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TPG

A-Score: 4.3/10

Value: 1.3

Growth: 1.6

Quality: 6.0

Yield: 7.0

Momentum: 4.0

Volatility: 6.0

1-Year Total Return ->

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StepStone Group

A-Score: 4.1/10

Value: 4.4

Growth: 2.0

Quality: 2.6

Yield: 4.0

Momentum: 6.0

Volatility: 5.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

61.69$

Current Price

61.69$

Potential

-0.00%

Expected Cash-Flows