TPG INC Stock Price, News & Analysis

TPG RE Finance Trust (NYSE: TRTX) has announced its fourth quarter 2024 dividend. The company's Board of Directors declared a cash dividend of $0.24 per share of common stock. The dividend will be paid on January 24, 2025 to shareholders of record as of December 27, 2024.

TPG RE Finance Trust (NYSE: TRTX) has announced a quarterly cash dividend for its Series C Preferred Stock holders. The company's Board of Directors declared a dividend of $0.3906 per share of 6.25% Series C Cumulative Redeemable Preferred Stock for the fourth quarter of 2024. The dividend will be paid on December 30, 2024, to shareholders of record as of December 20, 2024.

Veeam Software, the global leader in Data Resilience, announced a $2 billion secondary equity offering led by TPG, valuing the company at $15 billion. The transaction includes participation from Temasek, Neuberger Berman Capital Solutions, and other investors.

The company has achieved $1.7 billion in annualized recurring revenue (ARR) with 18% year-over-year growth, including 31% growth in Software + SaaS subscriptions and 30% EBITDA margins. Veeam serves 77% of Fortune 500 companies and over 550,000 organizations globally with its data resilience solutions.

The company recently launched the Veeam Data Cloud (VDC), offering Backup-as-a-Service, and introduced the Veeam Data Cloud Vault in March 2024. The transaction is expected to close in Q1 2025, with Insight Partners remaining the largest shareholder.

TPG (NASDAQ: TPG), a global alternative asset management firm, has announced that CEO Jon Winkelried will present at the Goldman Sachs 2024 U.S. Financial Services Conference on December 10, 2024, at 1:40 p.m. ET.

The presentation will be accessible via live audio webcast on TPG's website in the Investor Relations section at shareholders.tpg.com/events-presentations/events. A replay of the presentation will be made available on the Events page shortly after the event for those unable to attend the live session.

Demopolis Equity Partners, a technology-focused growth and buyout firm, has announced a strategic minority investment agreement with TPG (NASDAQ: TPG) through TPG NEXT. Founded in 2022, Demopolis focuses on control and growth equity investments in lower middle market B2B software companies. The partnership will provide Demopolis access to TPG's strategic and operational capabilities, including capital formation, markets, investment sourcing, and diligence. The transaction is expected to close in Q4 2024.

TPG reported strong Q3 2024 results with total assets under management reaching $239 billion, up 76% year-over-year. The firm achieved GAAP net income of $9 million with EPS of $0.04, while Fee-Related Earnings grew 22% to $191 million with a 41% margin. After-tax Distributable Earnings were $189 million ($0.45 per share). The company declared a quarterly dividend of $0.38 per share. Through Q3, TPG deployed $23 billion of capital, generated $16 billion in realizations, and raised over $21 billion across strategies, marking successful integration with Angelo Gordon acquisition.

TPG RE Finance Trust (TRTX) reported strong Q3 2024 results with GAAP net income of $18.7 million ($0.23 per share) and Distributable Earnings of $23.0 million ($0.28 per share). The company originated three first mortgage loans totaling $204.0 million commitments with a weighted average interest rate of Term SOFR plus 3.17%. Book value per share was $11.41. The company maintained stable credit quality with an unchanged weighted average risk rating of 3.0 and reduced allowance for credit losses to $69.3 million. TRTX ended the quarter with $357.0 million in near-term liquidity and increased non-mark-to-market financings to 79.7% of total borrowings.

TPG has announced that its recently established entertainment company will be named Initial Group. The company has acquired Grandview, a leading Hollywood literary management firm, which will be combined with Untitled Entertainment, Initial Group's first investment in June 2024. This acquisition significantly enhances Untitled's capabilities in literary representation and expands Initial Group's global presence.

Untitled's Founding Partners, Jason Weinberg and Stephanie Simon, will be joined by Grandview co-founders Jeff Silver and Matt Rosen as Managing Partners. Several Grandview partners will also join Untitled's existing partners. Michel Pratte, Initial Group CEO, expressed excitement about the merger, highlighting the platform's growth and ability to attract top industry talent.

The transaction aims to expand client offerings and create new collaboration opportunities within the entertainment industry. Latham & Watkins LLP served as legal counsel to Initial Group, while Eisner LLP and Venable LLP advised Grandview. LionTree Advisors acted as Grandview's financial advisor.

TPG RE Finance Trust, Inc. (NYSE: TRTX) has announced the dates for its third quarter 2024 earnings release and conference call. The company will release its financial results and file its Form 10-Q and earnings supplemental after the market close on Tuesday, October 29, 2024. A conference call and webcast to review the financial results will be held at 9:00 a.m. ET on Wednesday, October 30, 2024.

Participants can join the call by dialing +1 (877) 407-9716 from the US and Canada, or +1 (201) 493-6779 internationally. The webcast will be accessible on the company's investor relations website. A replay of the call will be available from 12:00 p.m. ET on October 30, 2024, through 11:59 p.m. ET on November 13, 2024, using the passcode 13745416.