$TPGXL
TPG Inc.
CIK:0001880661|SEC Filings
Condensed Consolidated Statements of Operations (unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Revenues | ||||
| Fees and other | $ 704,969 | $ 569,074 | $ 1,324,991 | $ 1,112,529 |
| Capital allocation-based income | 1,136,455 | 351,463 | 1,016,439 | 842,884 |
| Total revenues | 1,841,424 | 920,537 | 2,341,430 | 1,955,413 |
| Compensation and benefits: | ||||
| Cash-based compensation and benefits | 237,025 | 208,621 | 474,213 | 432,191 |
| Equity-based compensation | 231,730 | 209,622 | 486,866 | 415,454 |
| Performance allocation compensation | 776,665 | 233,437 | 710,517 | 532,142 |
| Total compensation and benefits | 1,245,420 | 651,680 | 1,671,596 | 1,379,787 |
| General, administrative and other | 174,357 | 182,335 | 322,298 | 346,646 |
| Depreciation and amortization | 41,342 | 30,808 | 83,093 | 62,190 |
| Interest expense | 36,219 | 25,308 | 68,957 | 49,368 |
| Total expenses | 1,497,338 | 890,131 | 2,145,944 | 1,837,991 |
| Investment income (loss) | ||||
| Net losses from investment activities | (9,053) | (791) | (10,184) | (2,878) |
| Interest, dividends and other | 20,981 | 9,722 | 29,989 | 18,970 |
| Total investment income | 11,928 | 8,931 | 19,805 | 16,092 |
| Income before income taxes | 356,014 | 39,337 | 215,291 | 133,514 |
| Income tax expense | 36,342 | 9,226 | 18,894 | 15,575 |
| Net income | 319,672 | 30,111 | 196,397 | 117,939 |
| Net income attributable to non-controlling interests | 226,246 | 15,170 | 104,424 | 77,605 |
| Net income attributable to TPG Inc. | $ 93,426 | $ 14,941 | $ 91,973 | $ 40,334 |
| Net income (loss) available to Class A common stock per share | ||||
| Basic (in usd per share) | $ 0.44 | $ 0.03 | $ 0.38 | $ 0.10 |
| Diluted (in usd per share) | $ 0.39 | $ (0.05) | $ 0.17 | $ (0.05) |
| Weighted-average shares of Class A common stock outstanding | ||||
| Basic (in shares) | 164,670,334 | 133,404,634 | 162,166,694 | 125,450,638 |
| Diluted (in shares) | 385,468,150 | 370,142,783 | 384,594,589 | 369,753,038 |
Condensed Consolidated Statements of Financial Condition (unaudited) - USD ($) $ in Thousands |
Jun. 30, 2026 |
Dec. 31, 2025 |
||
|---|---|---|---|---|
| Assets | ||||
| Cash and cash equivalents | $ 944,663 | $ 826,105 | ||
| Restricted cash | [1] | 13,164 | 13,166 | |
| Due from affiliates | $ 427,693 | $ 573,590 | ||
| Other Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration] | Related Party | Related Party | ||
| Investments (includes assets pledged of $— and $603,322 as of June 30, 2026 and December 31, 2025, respectively | [1] | $ 9,625,886 | $ 9,211,816 | |
| Intangible assets, net | 587,585 | 659,839 | ||
| Goodwill | 498,188 | 498,188 | ||
| Right-of-use assets | 566,441 | 552,254 | ||
| Deferred tax assets | 929,788 | 860,676 | ||
| Other assets | 434,486 | 297,301 | ||
| Total assets | 14,027,894 | 13,492,935 | ||
| Liabilities | ||||
| Accounts payable and accrued expenses | 366,394 | 230,523 | ||
| Due to affiliates | $ 686,245 | $ 694,632 | ||
| Accounts Payable, Related and Nonrelated Party Status [Extensible Enumeration] | Related Party | Related Party | ||
| Debt obligations | [1] | $ 2,343,695 | $ 1,722,547 | |
| Accrued performance allocation compensation | 5,631,012 | 5,399,750 | ||
| Operating lease liabilities | 644,947 | 604,593 | ||
| Other liabilities | 613,366 | 704,515 | ||
| Total liabilities | 10,285,659 | 9,356,560 | ||
| Commitments and contingencies (Note 12) | ||||
| Equity | ||||
| Preferred stock, $0.001 par value, 25,000,000 shares authorized (0 issued and outstanding as of June 30, 2026 and December 31, 2025) | 0 | 0 | ||
| Additional paid-in-capital | 1,642,331 | 1,476,444 | ||
| Accumulated deficit | (406,304) | (291,604) | ||
| Accumulated other comprehensive income, net of tax | (370) | 0 | ||
| Non-controlling interests | 2,506,194 | 2,951,158 | ||
| Total equity | 3,742,235 | 4,136,375 | ||
| Total liabilities and equity | 14,027,894 | 13,492,935 | ||
| Class A Common Stock | ||||
| Equity | ||||
| Common stock, value, issued | 166 | 153 | ||
| Common Class B | ||||
| Equity | ||||
| Common stock, value, issued | $ 218 | $ 224 | ||
| ||||