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Admiral William McRaven joins TPG (NASDAQ: TPG) board as independent director

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

TPG Inc. is adding Admiral William H. McRaven to its Board of Directors as an independent director, effective May 1, 2026, expanding the Board from thirteen to fourteen members. He will serve on the Compensation Committee and Conflicts Committee, and has been determined to meet all Nasdaq and Exchange Act independence standards.

TPG states there are no related‑party arrangements or transactions requiring disclosure in connection with his appointment. McRaven will receive the company’s standard independent director compensation and has signed its standard indemnification agreement. TPG describes itself as a global alternative asset manager with $303 billion of assets under management, investing across private equity, impact, credit, real estate, and market solutions strategies.

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Subordinated notes coupon 6.950% Subordinated Notes due 2064 listed as TPGXL
Subordinated notes maturity 2064 6.950% Subordinated Notes due 2064
Board size after appointment 14 members Board increased from thirteen to fourteen members
Effective date of McRaven appointment May 1, 2026 Independent director role and committee service effective date
Assets under management $303 billion TPG total assets under management across strategies
Year founded 1992 TPG founded in San Francisco in 1992
independent director financial
"appointed Admiral William H. McRaven as an independent director to fill the resulting vacancy"
An independent director is a member of a company's board of directors who is not involved in the company's day-to-day operations and has no significant relationships with the company that could influence their judgment. Their role is to provide unbiased oversight and ensure the company is managed in the best interests of all shareholders. This helps build trust and confidence among investors by promoting transparency and accountability.
Compensation Committee financial
"Mr. McRaven will serve as a member of the Compensation Committee and Conflicts Committee"
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
Conflicts Committee financial
"Mr. McRaven will serve as a member of the Compensation Committee and Conflicts Committee"
Regulation FD Disclosure regulatory
"Item 7.01 Regulation FD Disclosure. A copy of the Company’s press release..."
assets under management financial
"with $303 billion of assets under management and investment and operational teams around the world"
Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.
alternative asset management firm financial
"TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, today announced"
An alternative asset management firm is a company that manages investments outside of traditional assets like stocks and bonds, focusing instead on options such as real estate, private companies, or commodities. These firms help investors diversify their portfolios and seek higher returns by exploring different kinds of investments that are less common and often less liquid. Their role is important because they provide access to opportunities that can improve overall investment performance and reduce risk.
Understanding 8-K Material Events →
0001880661False00018806612026-04-082026-04-080001880661us-gaap:CommonClassAMember2026-04-082026-04-080001880661tpg:JuniorSubordinatedNotesDue2064Member2026-04-082026-04-08

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported):
April 8, 2026

TPG Inc.
(Exact name of registrant as specified in its charter)

 
Delaware001-4122287-2063362
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
301 Commerce Street, Suite 3300
 76102
Fort Worth,
TX(Zip Code)
(817) 871-4000
(Registrant’s telephone number, including area code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Class A common stockTPG
The Nasdaq Stock Market LLC
(Nasdaq Global Select Market)
6.950% Subordinated Notes due 2064 TPGXL
The Nasdaq Stock Market LLC
(Nasdaq Global Market)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐ 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As part of TPG Inc.’s (the “Company”) previously disclosed long-term corporate governance transition to oversight by a majority independent board, on April 8, 2026, the board of directors of the Company (the “Board”) increased the size of the Board from thirteen to fourteen members and appointed Admiral William H. McRaven as an independent director to fill the resulting vacancy, effective May 1, 2026. Mr. McRaven will serve as a member of the Compensation Committee and Conflicts Committee.

The Board has determined that Mr. McRaven satisfies all applicable requirements to serve on the Compensation Committee and Conflicts Committee, including, without limitation, the applicable independence requirements of the Nasdaq Stock Market LLC and the Securities Exchange Act of 1934, as amended.

There are no arrangements or understandings between Mr. McRaven and any other person pursuant to which he was appointed as a director of the Company. There are no current or proposed transactions between Mr. McRaven or any of his related persons and the Company for which disclosure is required under Item 404(a) of Regulation S-K.

Mr. McRaven will receive the standard compensation available to other independent directors of the Company in accordance with the Company’s Independent Director Compensation Policy filed as Exhibit 10.31 to the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on February 17, 2026. Mr. McRaven also entered into the Company’s standard indemnification agreement for independent directors.
Item 7.01 Regulation FD Disclosure.
A copy of the Company’s press release announcing the appointment of Mr. McRaven as a director of the Company is furnished as exhibit 99.1 to this Current Report on Form 8-K.
As provided in General Instruction B.2 of Form 8-K, the information in this Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall such information or Exhibit 99.1 be deemed to be incorporated by reference in any filing under the Securities Act or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits

Exhibit No.Description
99.1
Press Release of TPG Inc., dated April 9, 2026
104Cover Page Interactive Data File (embedded within the Inline XBRL document).




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereto duly authorized.

TPG INC.
By: 
/s/ Jennifer L. Chu
Name: 
Jennifer L. Chu
Title: 
Chief Legal Officer and General Counsel
Date: April 9, 2026






Exhibit 99.1
TPG Appoints Admiral William H. McRaven as Independent Director
SAN FRANCISCO & FORT WORTH, TX – April 9, 2026 – TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, today announced the appointment of Admiral William H. McRaven to its Board of Directors (the “Board”) as an independent director, effective May 1, 2026.
“On behalf of the Board and leadership team, we are pleased to welcome a leader of Bill’s caliber to the TPG Board,” said Jim Coulter, Founding Partner and Executive Chairman of TPG. “Bill brings distinct experience, a deep understanding of global and business affairs, and a differentiated skillset that will be valuable as we further our growth ambitions and advance toward a majority‑independent governance structure.”
“Bill is a proven leader whose career has been shaped by decades of experience leading through complexity and advising in consequential moments,” said Jon Winkelried, Chief Executive Officer of TPG. “His trusted judgment, global perspective, and strategic insight will be an asset as TPG continues to scale. We look forward to working alongside him as we execute on the firm’s strategic priorities and accelerate momentum across TPG.”
McRaven brings more than four decades of experience across the public and private sectors and is a widely recognized leader in foreign policy and geopolitical affairs. He currently serves as a Senior Advisor at Lazard, Inc. and as a Professor of National Security at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin. McRaven is a retired U.S. Navy Four-Star Admiral, and during his time in the military, commanded special operations forces at every level, eventually leading all U.S. Special Operations. McRaven is an authority on U.S. foreign policy and has advised Presidents George W. Bush, Barack Obama, and other senior U.S. leaders on international relations and security matters.
“TPG is experiencing a period of transformative growth as it diversifies its franchise and expands into new, high-conviction markets,” said McRaven. “Driving this growth is the firm’s entrepreneurial culture, thematic approach, and strong reputation for disciplined execution and investing excellence. These qualities position the firm for continued success, and I am thrilled to partner with the Board and leadership team to execute on the significant potential ahead.”
McRaven currently serves on the board of directors of ConocoPhillips and the advisory board of Haveli Investments. He also serves on several private and non-profit boards, including the Council on Foreign Relations, the National Football Foundation, the International Crisis Group, and The Mission Continues. He was formerly the Chancellor of the University of Texas System and previously served on the advisory board of Palantir Technologies Inc.
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.
Shareholders:
Gary Stein & Evanny Huang
shareholders@tpg.com
Media:
Luke Barrett & Ethan Cherry
media@tpg.com

Source: View Original Filing on SEC EDGAR

FAQ

What board change did TPG (TPG) announce in this 8-K filing?

TPG expanded its Board from thirteen to fourteen members and appointed Admiral William H. McRaven as an independent director, effective May 1, 2026. He will serve on the Compensation Committee and Conflicts Committee, supporting TPG’s move toward a majority‑independent governance structure.

Is Admiral William H. McRaven considered independent under TPG (TPG) governance rules?

Yes. TPG’s Board determined that Admiral McRaven meets all applicable independence requirements of Nasdaq and the Securities Exchange Act. This allows him to serve on key committees, including the Compensation Committee and Conflicts Committee, reinforcing independent oversight of management and potential conflicts.

Will Admiral McRaven receive special compensation for joining TPG (TPG)’s board?

No special package is described. TPG states McRaven will receive the standard compensation paid to its other independent directors under the Independent Director Compensation Policy, and he entered into the company’s standard indemnification agreement for independent directors, aligning his terms with existing independents.

Does TPG (TPG) disclose any related‑party transactions with Admiral McRaven?

No. TPG states there are no current or proposed transactions between Admiral McRaven or his related persons and the company that require disclosure under Item 404(a) of Regulation S‑K. The filing also notes there is no appointment arrangement with any other person.

How does TPG (TPG) describe its business and scale in this disclosure?

TPG describes itself as a leading global alternative asset management firm founded in 1992 in San Francisco. It reports $303 billion of assets under management and invests across private equity, impact, credit, real estate, and market solutions strategies through global investment and operational teams.

Filing Exhibits & Attachments

5 documents

Press Releases

Other Documents