TPG(TPG)

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TPG(TPG) - 2022 Q1 - Earnings Call Transcript
2022-05-14 20:17
Financial Data and Key Metrics Changes - As of March 31, total assets under management (AUM) exceeded $120 billion, reflecting a 6% increase quarter-over-quarter and a 26% increase year-over-year [11] - GAAP net income for Q1 was $163 million, with fee-related revenues of $241 million and fee-related earnings (FRE) of $92 million, representing a 38% growth compared to the pro forma year-ago quarter [37][39] - The company announced a quarterly cash dividend of $0.44 per share, representing 85% of after-tax distributable earnings [13][42] Business Line Data and Key Metrics Changes - The Capital platform had $57 billion in total AUM, with a value accretion of 11% during the quarter [16] - The Growth platform reported total AUM of $22 billion, with value creation of 1.5% in Q1 and 23% over the last 12 months [20] - The Impact platform had total AUM of $14 billion, with value creation of 1% in Q1 and 31% for the last 12 months [25] - The Real Estate platform ended Q1 with $18 billion in total AUM, increasing over 40% from the prior quarter [27] - The Market Solutions platform had $10 billion in total AUM, focusing on various public and private market strategies [29] Market Data and Key Metrics Changes - The geopolitical and economic landscape remains uncertain, influenced by the conflict in Ukraine, high inflation rates, and rising interest rates [14] - The company has a substantial amount of committed but uncalled capital available for investment, totaling $30 billion as of March 31 [15] Company Strategy and Development Direction - The company is focused on adhering to its investment strategy amid a volatile environment, proactively monetizing investments and returning capital to limited partners [14][15] - The company aims to diversify its product offerings and is in dialogue regarding potential M&A opportunities to grow its platform [54][55] - The company emphasizes retaining and recruiting talent as a strategic focus, with a recent promotion program highlighting diversity [30][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strategy and investment approach, noting that the current market reset presents new investment opportunities at more attractive valuations [15][60] - The company remains optimistic about growth in AUM and FRE due to ongoing fundraising campaigns [44] Other Important Information - The company raised $5 billion during the quarter, driven by strong demand for its opportunistic real estate fund [11][39] - The Rise Climate Fund closed at its hard cap of $7.3 billion, with over $2 billion already committed to catalyze climate action [25][40] Q&A Session Summary Question: Impact of fundraising timing and over-allocated verticals - Management noted that the traditional U.S. pension fund market is most over-allocated, affecting fundraising timing, but they expect growth in international segments [48][50] Question: Interest in M&A and market valuations - Management confirmed ongoing interest in diversifying the product base through M&A, while being cautious about valuation adjustments in the current market [54][55] Question: Valuation framework in volatile markets - Management expressed confidence in their growth and transformation investing strategy, noting that historical performance has been strong following public market resets [60][62] Question: Future monetization and performance allocations - Management indicated expectations for at least $125 million of additional performance allocations in future quarters, with ongoing monetization activity [66] Question: Building out the Impact platform - Management sees substantial opportunities to expand the Rise platform, with strong demand for impact-related investing [71][73] Question: Real estate platform growth - Management highlighted the successful raise of their opportunistic real estate fund and the potential for growth in the real estate sector amid inflationary pressures [104][105]
TPG(TPG) - 2022 Q1 - Quarterly Report
2022-05-11 16:00
Table of contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-04321 Indicate by check mark whether the registrant has submitted electronically and posted on its corporate w ...
TPG(TPG) - 2022 Q1 - Earnings Call Presentation
2022-05-11 11:21
TPG Reports First Quarter 2022 Financial Results Quarter Ended March 31, 2022 TPG Reports First Quarter 2022 Financial Results Shareholder contact: Media contact: Gary Stein Luke Barrett 212 601 4750 415 743 1550 shareholders@tpg.com media@tpg.com ▪ GAAP net income attributable to TPG Inc. of $41 million for the first quarter ended March 31, 2022 ▪ Announced first dividend as a public company of $0.44 per share of Class A common stock for the first quarter of 2022 ▪ After-tax Distributable Earnings of $199 ...
TPG(TPG) - 2021 Q4 - Earnings Call Transcript
2022-03-28 20:14
TPG, Inc. (NASDAQ:TPG) Q4 2021 Earnings Conference Call March 28, 2022 11:00 AM ET Company Participants Gary Stein - Head of Investor Relations Jon Winkelried - Chief Executive Officer Jack Weingart - Chief Financial Officer Todd Sisitsky - President Jim Coulter - Executive Chairman and Co-Founder Conference Call Participants Glenn Schorr - Evercore Craig Siegenthaler - Bank of America Ken Worthington - J.P. Morgan Alex Blostein - Goldman Sachs Robert Lee - KBW Bill Katz - Citigroup Brian Bedell - Deutsche ...
TPG(TPG) - 2021 Q4 - Annual Report
2022-03-28 16:00
Table of contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) TPG Inc. (Exact name of registrant as specified in its charter) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 301 Commerce Street, Suite 3300 76102 Fort Worth, TX (Zip Code) Delaware 87-2063362 OR ¨ TRANSITION REPORT ...
TPG(TPG) - 2021 Q4 - Earnings Call Presentation
2022-03-28 15:46
Science Applications International Corporation Fiscal Year 2022 Fourth Quarter Earnings Call Supplemental Financial Presentation March 28, 2022 SAIC. BRING ON TOMORROW. We're not just another company that solves problems. No, we're a company that never stops reaching. Never stops pushing beyond our limits. To rethink engineering n a digital world, we reached. To redefine space training through virtual reality, we reached. To redesign new combat vehicles for our troops, we reached. And what's the one thing w ...