TPG Reports Fourth Quarter and Full Year 2025 Results

Key Terms

alternative asset management financial

Alternative asset management is the business of selecting and overseeing investments that lie outside mainstream stocks and bonds — things like real estate, private companies, hedge funds, commodities, infrastructure, or collectibles. For investors it matters because these assets can behave differently than public markets, acting like a separate lane in a portfolio that can reduce overall risk, boost returns, or provide income, but they often come with higher fees, less transparency and lower liquidity (harder to sell quickly).

dry powder financial

Dry powder is the cash or liquid assets that investors or funds keep on hand and are ready to deploy into new investments or to cover obligations. Think of it like a firefighter’s reserve of water: it lets investors act quickly when bargains appear or when markets turn sour, so it influences a fund’s ability to buy assets, support portfolio companies, or weather losses.

SAN FRANCISCO & FORT WORTH, Texas--(BUSINESS WIRE)-- TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, today reported its unaudited results for the fourth quarter and full year ended December 31, 2025. A detailed presentation is available through the Investor Relations section of TPG’s website at shareholders.tpg.com.

"2025 was an outstanding year for TPG, marked by exceptional execution across our global franchise. We achieved new records, with more than $51 billion raised and $52 billion deployed, and these results – combined with the continued scaling of our business and double-digit value creation across nearly all our platforms – have driven our total AUM to more than $300 billion,” said Jon Winkelried, Chief Executive Officer. “We started 2026 with significant momentum and our increased scale and diversification, coupled with $72 billion in dry powder, position us well to navigate the evolving market landscape, while continuing to deliver sustained growth and differentiated value for our clients and shareholders."

Dividend
TPG has declared a quarterly dividend of $0.61 per share of Class A common stock to holders of record at the close of business on February 19, 2026, payable on March 5, 2026.

Conference Call
TPG will host a conference call and live webcast today at 12:00 pm ET. It may be accessed by dialing (800) 245-3047 (US toll-free) or (203) 518-9765 (international), using the conference ID TPGQ425. 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 $303 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, 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; No Offers
This document may contain “forward-looking” statements. 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, estimated operational metrics, 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 the inability to recognize the anticipated benefits, or unexpected costs related to the integration, of acquired companies; our ability to manage growth and execute our business plan; and regional, national or global political, economic, business, competitive, market and regulatory conditions and uncertainties, among various other risks discussed in the Company’s SEC filings.

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 included elsewhere in this document 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 document speaks only as of the date of this document. 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 document, 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 document.

This document does not constitute an offer of any TPG fund.

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Shareholders



Gary Stein and Evanny Huang

shareholders@tpg.com



Media



Luke Barrett and Julia Sottosanti

media@tpg.com

Source: TPG Inc.