Marks Successful Culmination of AMG Partnership WEST PALM BEACH, Fla., May 06, 2025 (GLOBE NEWSWIRE) -- AMG, a strategic partner to leading independent investment management firms globally, today announced that it has entered into an agreement to sell its equity interest in Peppertree Capital Management, Inc. (“Peppertree”) as part of the announced acquisition of Peppertree by TPG Inc. Founded in 2004 by co-Presidents Ryan Lepene and Howard Mandel, Peppertree is a leading specialized digital infrastructure ...

Group 1: Didi's Safety Measures - Didi has implemented safety reminders for the upcoming "May Day" holiday travel peak, focusing on risk assessment, emergency drills, and driver training [1] - The company is enhancing safety protocols and increasing technical and human resources to ensure efficient responses to emergencies [1] - Didi is utilizing big data and smart technology to monitor orders in real-time and provide risk alerts during the holiday [1] Group 2: Adidas Financial Performance - Adidas reported a first-quarter net profit of €428 million, exceeding market expectations of €376.4 million [2] - The company's gross profit for the quarter was €3.21 billion, also above the market forecast of €3.16 billion [2] - Adidas maintains its full-year operating profit forecast between €1.7 billion and €1.8 billion, lower than the market estimate of €2.04 billion [2] Group 3: NXP Semiconductors Earnings - NXP Semiconductors announced first-quarter revenue of $2.84 billion, slightly above market expectations of $2.83 billion [2] - The company experienced a year-over-year revenue decline of 9% [2] - Adjusted EPS for the quarter was $2.64, surpassing the market forecast of $2.60 [2] Group 4: Sabre's Business Sale - Sabre has agreed to sell its Hospitality Solutions business to TPG for $1.1 billion in cash [2] - The transaction will allow Hospitality Solutions to operate as an independent entity while benefiting from TPG's resources for growth [2] - TPG manages assets totaling $246 billion and will conduct the investment through its private equity platform [2] Group 5: Domino's Sales Decline - Domino's Pizza reported a 0.5% year-over-year decline in same-store sales in the U.S., falling short of analyst expectations for a 0.5% increase [3] - The decline is attributed to high inflation and economic uncertainty affecting consumer demand [3] - The company's gross margin for U.S. stores decreased from 17.5% to 16% due to rising food ingredient costs [3] Group 6: Sony's Semiconductor Business Split - Sony is considering a spin-off of its semiconductor division, potentially completing the process within the year [3] - The move aims to streamline operations and refocus on the entertainment sector [3] - Discussions are ongoing, and plans may change due to market volatility influenced by U.S. tariffs [3] Group 7: Investment Activities - "Yinshi Robot" has completed nearly 100 million RMB in B3 round financing, focusing on advanced technology development and global market expansion [4] - Anhui Wanzhi Construction Engineering Co., Ltd. secured 26 million RMB in Pre-A round financing to advance smart construction technology and low-carbon materials [5] - "Zhijing Jinchian" has received angel round financing, specializing in artificial intelligence computing power through blockchain technology [6] Group 8: New Product Launches - Midea Air Conditioning held its first "2025 Midea AI Technology Day," launching several AI-driven air conditioning products [7] - iQOO introduced the new iQOO Z10 Turbo series smartphones, starting at a price of 1,099 RMB, highlighting performance and battery life [8] Group 9: Economic Insights - Hungary's economy minister stated that Hungary will not weaken its economic ties with China, citing a lack of comparable investment potential from the U.S. [9] - The Hong Kong Stock Exchange and Securities and Futures Commission are preparing to assist Chinese companies wishing to return to the Hong Kong market [9] - South Korea's retail sales increased by 9.2% year-over-year in March, driven by strong online demand for food and daily necessities [10]

Core Viewpoint - Sabre Corporation has signed a definitive agreement to sell its Hospitality Solutions business to TPG for $1.1 billion in cash, allowing Sabre to focus on its core airline IT and travel marketplace platforms while optimizing its financial structure and pursuing sustainable growth [1][4][3]. Group 1: Transaction Details - TPG will acquire Sabre's Hospitality Solutions business for $1.1 billion, with expected net cash proceeds to Sabre of approximately $960 million after taxes and fees [1][3]. - The transaction will establish Hospitality Solutions as an independent technology company dedicated to the hospitality industry, providing software and solutions to over 40% of the world's leading hotel brands [2][4]. - The deal is expected to close by the end of the third quarter of 2025, pending customary closing conditions and regulatory approvals [7]. Group 2: Strategic Implications - The proceeds from the sale will primarily be used to pay down debt, improving Sabre's balance sheet and enabling a focus on its core business [3][4]. - This divestiture is part of a series of strategic financial moves by Sabre, including recent debt refinancings, aimed at achieving a long-term net leverage target of 2.5x to 3.5x [3][4]. - TPG's investment approach is expected to drive significant value for Hospitality Solutions' customers, leveraging TPG's experience in growing mission-critical software businesses [5][6]. Group 3: Business Operations - Hospitality Solutions provides an integrated system of record for reservation and guest information, enhancing operational accuracy and efficiency for hoteliers [2]. - The platform has evolved significantly since Sabre's acquisition of SynXis in 2005, with ongoing investments in capabilities and solutions [4]. - TPG aims to enhance and expand the Hospitality Solutions platform, positioning it as a comprehensive technology provider for the hospitality industry [5].

Company Overview - TPG Inc. shares increased by 15.6% to close at $45.87, following a notable trading volume that exceeded typical levels, contrasting with an 18.4% loss over the previous four weeks [1] - The stock surge was influenced by a broader market rally, particularly due to President Trump's announcement of a 90-day tariff pause for non-retaliating nations, which positively impacted investor sentiment [2] Earnings Expectations - TPG Inc. is projected to report quarterly earnings of $0.54 per share, reflecting a year-over-year increase of 10.2% [2] - Expected revenues for TPG Inc. are $465.11 million, representing a 3.1% increase compared to the same quarter last year [2] Market Trends and Stock Performance - The consensus EPS estimate for TPG Inc. has remained unchanged over the last 30 days, indicating a lack of upward revisions in earnings estimates, which typically correlates with stock price movements [4] - The stock currently holds a Zacks Rank of 3 (Hold), suggesting a neutral outlook [4] - TPG Inc. is part of the Zacks Financial - Investment Management industry, which includes Ares Management (ARES), whose stock also saw a 15.6% increase, closing at $142.37, despite a -13.9% return over the past month [4]

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Core Viewpoint - TPG RE Finance Trust (NYSE: TRTX) has experienced a 12.8% increase over the past year, with its share price reaching $8.54, narrowing the gap to a book value of $11.27 per share [1] Group 1 - The equity market serves as a significant mechanism for wealth creation or destruction over the long term due to daily price fluctuations [1] - Pacifica Yield focuses on long-term wealth creation by targeting undervalued high-growth companies, high-dividend stocks, REITs, and green energy firms [1]

Core Insights - TPG Inc. has transitioned from a leading private equity firm to a fully diversified alternative asset manager with a total AUM of $246 billion and aims to double this figure [1] Company Overview - TPG Inc. is recognized for its rich history in private equity and has expanded its operations to encompass a broader range of alternative assets [1] Market Perspective - Joseph Jones, a professor with over fifteen years of market study experience, emphasizes portfolio construction from a dividend growth investor's viewpoint, although his insights are independent and do not reflect any employer's views [1]

Acquisition and Integration - TPG Inc. completed the acquisition of Angelo Gordon on November 1, 2023, with results included in consolidated operations from November 1, 2023, to December 31, 2024[13]. - The company faces risks related to the integration of Angelo Gordon and achieving anticipated benefits from the acquisition[14]. - TPG Inc. completed the acquisition of Angelo Gordon for a total purchase price of $1,143.4 million, which included $740.7 million in cash at closing[949]. - The acquisition included 9.2 million vested Common Units valued at approximately $233.9 million and 43.8 million unvested Common Units considered compensatory under U.S. GAAP[952]. - As of the acquisition date, the total identifiable assets acquired amounted to $2,334.3 million, while total liabilities assumed were $1,392.6 million, resulting in goodwill of $205.9 million[954]. - The Earnout Payment could total up to $400.0 million, contingent on achieving certain fee-related revenue targets during the measurement period from January 1, 2026, to December 31, 2026[952]. Financial Performance - Total revenues for 2024 reached $3,500,082, a 46.6% increase from $2,389,911 in 2023[812]. - Total expenses rose to $3,578,323, reflecting a 51.5% increase compared to $2,363,803 in 2023[812]. - Net loss attributable to TPG Inc. was $76,915, compared to a net income of $23,385 in 2023[812]. - Basic net income (loss) per share for Class A common stock was $0.00, down from $0.89 in 2023[812]. - Diluted net income (loss) per share was $(0.42), compared to $(0.04) in 2023[812]. - TPG Inc. reported a net income of $23,483,000 for the year ended December 31, 2024, compared to a net loss of $76,915,000 in 2023[821]. - The total cash provided by operating activities for 2024 was $532,146,000, a decrease from $720,518,000 in 2023[821]. - TPG Inc. had cash, cash equivalents, and restricted cash of $821,192,000 at the end of 2024, up from $678,371,000 at the end of 2023[823]. - The company experienced a net cash used in financing activities of $344,860,000 in 2024, compared to $789,234,000 in 2023[821]. Compensation and Expenses - Cash-based compensation and benefits increased to $835,328, a 52.5% rise from $547,377 in 2023[812]. - Equity-based compensation surged to $1,006,312, up 53.5% from $654,922 in 2023[812]. - The company reported a significant increase in performance allocation compensation to $930,053,000 in 2024 from $591,676,000 in 2023[821]. - Management fees increased to $1,637,990 in 2024, up 37.8% from $1,187,947 in 2023[860]. - Performance allocations rose to $1,301,766 in 2024, a significant increase of 61.0% compared to $808,248 in 2023[860]. - Monitoring fees surged to $29,625 in 2024, a 172.0% increase from $10,866 in 2023[860]. - Transaction fees increased to $140,599 in 2024, up 41.4% from $99,427 in 2023[860]. - Incentive fees saw a rise to $33,032 in 2024, compared to $2,815 in 2023, marking a substantial increase[860]. Assets and Liabilities - Total assets increased to $10,535.1 million as of December 31, 2024, up from $9,369.7 million as of December 31, 2023[807]. - Total liabilities increased to $6,943.1 million as of December 31, 2024, compared to $6,008.5 million as of December 31, 2023[807]. - Accrued performance allocation compensation rose to $4,376.5 million as of December 31, 2024, from $4,096.1 million as of December 31, 2023[807]. - Additional paid-in-capital increased to $970.7 million as of December 31, 2024, compared to $613.5 million as of December 31, 2023[807]. - The balance of total equity at December 31, 2024, was $3,591,989,000, up from $3,361,134,000 at the end of 2023[819]. Market and Regulatory Environment - The company acknowledges potential risks from changes in the U.S. political and financial regulatory environment[16]. - TPG's management fees and performance allocations are primarily influenced by the fair value of investments, which can fluctuate due to market conditions[24]. - The company is subject to scrutiny from fund investors and regulators regarding ESG matters and evolving regulatory requirements[14]. - TPG's investment strategy includes expansion into new markets and businesses, which may involve new types of investors[14]. - The company has no obligation to publicly update forward-looking statements, which are subject to inherent uncertainties and risks[12]. Accounting and Reporting - The preparation of the Consolidated Financial Statements requires management to make estimates and assumptions that could materially affect reported amounts[832]. - The Company accounts for business combinations using the acquisition method, allocating purchase price to assets and liabilities based on fair values determined at the acquisition date[917]. - The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense within the consolidated financial statements[939]. - The total Purchase Price allocated to the fair value of assets acquired and liabilities assumed was $205.9 million recorded as goodwill, which is not tax-deductible[961]. - The fair value of identifiable intangible assets acquired totaled $547.5 million, with management contracts valued at $287,000 and contractual performance fee allocations at $199,000[962].

Financial Data and Key Metrics Changes - TPG reported GAAP net income of $13 million and after-tax distributable earnings of $261 million, equating to $0.62 per share of Class A common stock, marking a 27% increase year-over-year [7][45] - The company declared a dividend of $0.53 per share of Class A common stock, payable on March 7, 2025 [7] - Total assets under management (AUM) reached $246 billion, an 11% increase year-over-year, driven by $30 billion in capital raised and $19 billion in value creation [46] - After-tax distributable earnings for the full year totaled $837 million, a 43% increase compared to the previous year [45] Business Line Data and Key Metrics Changes - Private equity and infrastructure fundraising grew year-over-year, raising $14 billion in 2024 [18] - Credit strategies raised over $12 billion in 2024, exceeding the $10 billion target [52] - The capital markets revenue saw significant growth, driven by the integration of the broker-dealer across platforms [26] Market Data and Key Metrics Changes - The company deployed $33 billion in capital for the full year 2024, with $10 billion deployed in the fourth quarter alone [28] - Realizations totaled $23 billion for the year, a 50% increase from 2023 [36] - The private equity portfolio appreciated more than 3% in the fourth quarter and 10% over the last twelve months [49] Company Strategy and Development Direction - TPG aims to double its AUM to $500 billion over the next several years, focusing on organic growth, innovation, and potential inorganic opportunities [39][84] - The company is expanding its client relationships and distribution channels, particularly in private wealth [16][80] - TPG is actively evaluating inorganic opportunities to enhance scale and diversification, particularly in infrastructure and digital assets [17][78] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about significant capital raising in 2025, expecting to exceed 2024 levels [15][53] - The company anticipates growth in management fees driven by credit deployment and fundraising for climate and transition infrastructure funds [64] - Management highlighted the importance of maintaining a balance sheet-light model while exploring partnerships and growth opportunities [91][96] Other Important Information - TPG successfully integrated Angelo Gordon, realizing revenue synergies and business-building opportunities [12][58] - The company launched several new funds, including a climate transition infrastructure strategy and a dedicated mid-cap strategy focused on Asia [21][24] - TPG's capital markets business is expected to be a significant contributor to revenue growth over time [26] Q&A Session Summary Question: TPG's annual partners meeting and insurance opportunities - Management discussed five core growth drivers for doubling AUM, including growing core strategies, organic innovation, inorganic additions, wealth penetration, and insurance partnerships [72][84] Question: Importance of balance sheet light model in insurance opportunities - Management emphasized the importance of finding the right partner while maintaining a balance sheet-light model, focusing on quality growth [91][96] Question: Doubling AUM timeframe and organic vs. inorganic growth - Management indicated that doubling AUM could occur in several years, with a mix of organic and inorganic growth strategies contributing to this goal [106][108] Question: Impact of partnership with Intersect Power and RISE Climate - Management highlighted the significance of the partnership with Google and Intersect Power, indicating strong activity in the climate impact sector [130][132]

TPG Reports Fourth Quarter and Full Year 2024 Financial Results Year Ended December 31, 2024 TPG Reports Fourth Quarter and Full Year 2024 Results San Francisco and Fort Worth, Texas – February 11, 2025 – TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, reported its unaudited fourth quarter and full year 2024 results. TPG issued a full detailed presentation of its fourth quarter and full year ended December 31, 2024 results, which can be viewed through the Investor Relations secti ...