Financial Performance - TPG reported a net income of $199 million for Q3 2025, compared to a net loss of $21 million in Q3 2024[16] - Net income attributable to TPG Inc was $67 million for Q3 2025, compared to $9 million in Q3 2024[16] - After-tax Distributable Earnings (DE) increased from $189 million in Q3 2024 to $214 million in Q3 2025, primarily driven by Fee-Related Earnings (FRE)[27] - Fee-Related Earnings (FRE) increased 18% from $191 million in Q3 2024 to $225 million in Q3 2025, with the FRE margin increasing from 41% to 44%[22] - The company declared a dividend of $045 per share of Class A common stock, payable on December 1, 2025[5] Assets Under Management (AUM) - Total Assets Under Management (AUM) reached $2864 billion, up 20% in the last twelve months[17] - Fee-Earning Assets Under Management (FAUM) totaled $1630 billion, up 15% over the same period[17] - Capital raised in Q3 2025 amounted to $181 billion, compared to $104 billion in Q3 2024[17] - Capital invested in Q3 2025 was $149 billion, an increase of over 70% year-over-year[4] Fund Performance - Realized performance allocations, net were $30 million in Q3 2025, primarily driven by Asia VIII and Asia VII in the Capital platform, MMDL V and MMDL II in TPG AG Credit, and TTAD II in the Growth platform[32] - Realized performance allocations, net for Q3 2025 YTD were $157 million, primarily driven by TPG VII, TPG VIII, Asia VIII, and Asia VII in the Capital platform, Growth IV in the Growth platform, and Rise Climate I in the Impact platform[32]

Core Viewpoint - TPG Inc. reported quarterly earnings of $0.53 per share, missing the Zacks Consensus Estimate of $0.55 per share, but showing an increase from $0.45 per share a year ago, indicating a mixed performance in earnings expectations [1][2]. Financial Performance - TPG Inc. posted revenues of $509.4 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.10% and showing an increase from $459.84 million year-over-year [2]. - Over the last four quarters, TPG has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2]. Stock Performance - TPG Inc. shares have declined approximately 12.8% since the beginning of the year, contrasting with the S&P 500's gain of 16.5% [3]. - The current Zacks Rank for TPG Inc. is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6]. Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.73 on revenues of $550.61 million, and for the current fiscal year, it is $2.45 on revenues of $2.01 billion [7]. - The trend of estimate revisions for TPG Inc. was mixed ahead of the earnings release, which may change following the recent report [6]. Industry Context - The Financial - Investment Management industry, to which TPG belongs, is currently in the top 30% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8].

Capital Raising and Deployment - TPG raised more than $18 billion in capital during Q3 2025, marking a successful first close in private equity funds and strong credit fundraising[5] - Nearly $15 billion was deployed in Q3 2025, representing an increase of over 70% year-over-year[5] - Capital raised in 3Q25 amounted to $18.1 million, up from $10.4 million in 3Q24, contributing to a year-to-date total of $35.3 million[25] - The company invested approximately $42.9 billion over the last twelve months, with $72.9 billion of capital available for deployment at the end of Q3 2025[95] - The company has approximately $72.9 billion of capital available for deployment as of the end of 3Q'25, an increase from $58.4 billion at the end of 3Q'24[98] Financial Performance - Total revenues for Q3 2025 were $1.22 billion, up from $855 million in Q3 2024, reflecting a year-over-year growth of approximately 43%[21] - Net income for Q3 2025 was $199 million, compared to a net loss of $21 million in Q3 2024[22] - Net income attributable to TPG Inc. was $67 million for Q3 2025, compared to $9 million in Q3 2024[22] - The operating profit margin improved to 16.3% in Q3 2025, up from a negative margin of 2.5% in Q3 2024[23] - Total expenses for Q3 2025 were $1.03 billion in Q3 2025, an increase from $867 million in Q3 2024[21] Earnings and Dividends - TPG declared a quarterly dividend of $0.45 per share of Class A common stock, payable on December 1, 2025[6] - Fee-Related Earnings (FRE) rose 18% from $191 million in 3Q24 to $225 million in 3Q25, with a FRE margin improvement from 41% to 44%[29] - After-tax Distributable Earnings (DE) increased from $189 million in 3Q24 to $214 million in 3Q25, primarily driven by higher FRE[38] - After-tax distributable earnings for Q3 2025 were reported at $214,362, compared to $189,445 in 3Q24, reflecting a year-over-year increase of approximately 13.1%[147] Assets Under Management (AUM) - TPG manages $286 billion in assets, investing across various strategies including private equity, credit, and real estate[8] - Total Assets Under Management (AUM) reached $286 billion, reflecting a 20% increase year-over-year[25] - Fee-Earning Assets Under Management (FAUM) grew by 15% to $163 billion compared to $141.7 billion in 3Q24[25] - Performance Eligible AUM reached $242.0 billion, accounting for 84% of total AUM, while Performance Generating AUM was $188.9 billion, or 66% of total AUM[87] Investment Performance - The TPG VII fund reported a total value of $24,896 million, achieving a net IRR of 19% and a gross multiple of 2.4x[117] - TPG IX fund had a total value of $13,238 million, with a net IRR of 25% and a gross multiple of 1.4x[117] - The Asia Funds collectively reported a total value of $34,416 million, with a net IRR of 14% and a gross multiple of 2.0x[120] - TPG AAF fund reported a total value of $2,720 million, with a net IRR of 37% and a gross multiple of 2.1x[119] Market Solutions and Segment Performance - TPG Angelo Gordon's credit segment reported capital of $16,256 million in 3Q'25, up from $11,937 million in 3Q'24, reflecting a growth of 36%[98] - Market Solutions segment capital increased to $4,151 million in 3Q'25 from $2,739 million in 3Q'24, marking a growth of 51.7%[98] - The company’s market solutions segment raised $380 million in capital during the three months ended September 30, 2025, compared to $1.101 billion in the same period last year, reflecting a decrease in this segment[96] Realizations and Investment Returns - Realizations for the three months ended September 30, 2025, totaled $7.766 billion, compared to $2.554 billion in the previous quarter, indicating a significant increase in investment returns[89] - Realizations in 3Q'25 amounted to $2,554 million, up from $1,238 million in 3Q'24, representing a growth of 106.5%[98] - Changes in investment value and other factors contributed an increase of $8.799 billion to AUM during the three months ended September 30, 2025[89] Corporate Developments - The company plans to include amounts from TPG Peppertree starting July 1, 2025, following the acquisition[26] - The acquisition of Peppertree Capital Management was completed on July 1, enhancing the company's investment capabilities[154] - The reorganization will take effect on November 1, 2023, impacting the TPG Operating Group partnerships and their respective consolidated subsidiaries[182]

Core Insights - TPG RE Finance Trust (TRTX) is currently trading at a significant double-digit discount to its book value per share, indicating potential undervaluation in the market [1] - The preferred shares of TRTX are offering elevated yields compared to their levels from a year ago, suggesting an attractive income opportunity for investors [1] - The Federal Reserve is anticipated to further cut interest rates, which may positively impact the performance of REITs and other income-generating assets [1] Company Focus - Pacifica Yield is focused on long-term wealth creation by targeting undervalued yet high-growth companies, high-dividend stocks, REITs, and firms in the green energy sector [1]

Core Viewpoint - TPG RE Finance Trust, Inc. reported strong third-quarter results, highlighting continued investment momentum and a robust loan pipeline that is expected to drive future growth in earnings [2][3]. Financial Performance - The company recognized GAAP net income of $18.4 million, or $0.23 per common share, for the third quarter of 2025, with a book value per common share of $11.25, up from $11.20 at the end of the previous quarter [3]. - Distributable Earnings for the quarter were $19.9 million, or $0.25 per common share [3]. - A cash dividend of $0.24 per share was declared and paid to common stockholders, with preferred stockholders receiving a quarterly dividend of $0.3906 per share [3]. Share Repurchase and Capital Management - The company repurchased 1,117,024 shares of common stock for a total of $9.3 million, increasing book value per common share by $0.04 [3]. - A new share repurchase program was approved, allowing for the repurchase of up to $25.0 million of common stock [3]. Loan Activity - In the third quarter, the company originated $279.2 million in total loan commitments, maintaining a loan portfolio that is 100% performing [2][3]. - The weighted average interest rate for newly originated loans was Term SOFR plus 3.22%, with a loan-to-value ratio of 64.9% [3]. - Loan repayments totaled $415.8 million, with the majority coming from multifamily and hotel properties [3]. Liquidity and Financial Position - The company ended the quarter with $216.4 million in near-term liquidity, including $77.2 million in cash available for investment [3]. - An allowance for credit losses was recorded at $66.1 million, a decrease from the previous quarter [3]. Subsequent Events - The company closed three first mortgage loans with total commitments of $196.5 million and announced the pricing of a $1.1 billion managed Commercial Real Estate Collateralized Loan Obligation [11].

Core Insights - The article discusses the investment perspective of Joseph Jones, focusing on dividend growth investment strategies [1] Group 1: Company Insights - Joseph Jones is a professor at The University of Southern Mississippi, specializing in portfolio construction [1] Group 2: Industry Insights - The insights expressed in the research are solely those of Joseph Jones and may not represent the views of his employer [1]

Core Insights - TPG is a global alternative asset firm focusing on private equity, real estate, and public market investments, with a current stock price of $56.52 and a price target set by Morgan Stanley at $63, indicating a potential increase of approximately 11.47% [1][6] Company Overview - TPG has a market capitalization of approximately $21.03 billion, positioning it as a significant player in the financial sector [4] - The company's stock price has shown volatility, with a high of $72.98 and a low of $37.52 over the past year [3][6] Recent Developments - TPG, in collaboration with Blackstone, announced a significant acquisition of Hologic for up to $18.3 billion, which involves purchasing all outstanding shares at $76 each in cash [2][5] - This acquisition marks a strategic move into the healthcare sector, aligning with TPG's interest in diversifying and strengthening its investment portfolio [2][5] Market Activity - TPG's stock price currently stands at $56.58, reflecting a 1.35% increase or $0.76, with today's trading volume at 343,613 shares, indicating active investor interest [3][4]

Core Viewpoint - Private equity firms Blackstone and TPG are acquiring Hologic for over $13 billion, taking the company private with a share price of up to $79, representing a 46% premium from late May [1][2]. Deal Structure - The acquisition includes $76 in cash per share, with additional payments contingent on revenue goals from Hologic's breast health business, bringing the total deal value to $18.3 billion when factoring in Hologic's $2.2 billion in cash and short-term investments and $2.5 billion in debt [2]. Regulatory and Approval Status - The deal requires approval from regulators and Hologic shareholders, but has already received unanimous approval from Hologic's board. The transaction is expected to close in the first half of next year [3]. Market Reaction - Following the announcement, Hologic shares increased nearly 4% to $74.62, while broader market indexes showed mixed performance [5]. Post-Transaction Details - After the acquisition, Hologic will be delisted from the Nasdaq stock exchange but will retain its name and headquarters in Marlborough, Massachusetts [5].

Core Viewpoint - Halper Sadeh LLC is investigating the fairness of the proposed sale of Hologic, Inc. to funds managed by Blackstone and TPG for Hologic shareholders [1] Transaction Details - Hologic shareholders are set to receive $76.00 per share in cash [1] - Additionally, shareholders will receive a non-tradable contingent value right to receive up to $3.00 per share, payable in two installments of up to $1.50 each [1]

Core Viewpoint - Hologic has reached a final acquisition agreement with Blackstone and TPG, valuing the company at up to $79 per share and an enterprise value of up to $18.3 billion [1] Group 1: Acquisition Details - Blackstone and TPG will acquire all outstanding shares of Hologic at $76 per share in cash [1] - An additional non-tradable contingent value right allows shareholders to receive up to $3 per share in two installments, contingent on meeting specific revenue targets in Hologic's breast health business for fiscal years 2026 and 2027 [1]