格隆汇2月9日｜据路透，私募股权投资公司TPG已同意从黑石集团手中收购Sabre Industries的多数股 权。知情人士透露，该交易对这家电力基础设施公司的估值约为35亿美元。黑石集团将继续持有总部位 于德克萨斯州的Sabre公司的大量少数股权。Sabre的主要业务集中在公用事业领域，生产电力和通信基 础设施组件，拥有约2800名员工。 ...

Private markets firm TPG has agreed to buy a majority stake in Sabre Industries from Blackstone , the companies said on Friday, in a deal two people familiar with the matter said valued the power infr... ...

Fee-related earnings (FRE) were $326 million in the quarter and $953 million for the full year, up 25% from 2024. The fourth-quarter FRE margin reached a record 52% , while full-year FRE margin was 45% , representing a 340-basis-point expansion year-over-year.Transaction and monitoring fees were a major contributor to the quarter’s results. Weingart said fourth-quarter transaction and monitoring fees more than tripled year-over-year to $122 million , bringing full-year 2025 transaction and monitoring fees t ...

The private markets firm's chief executive said he sees opportunity in market turmoil. ...

Financial Data and Key Metrics Changes - TPG reported GAAP net income attributable to TPG Inc. of $77 billion and after-tax distributable earnings of $304 million, or $0.71 per share of Class A common stock [4] - Full-year fee-related revenue reached $2.1 billion, including $628 million for the fourth quarter, which grew 36% year-over-year [31] - After-tax distributable earnings increased 17% year-over-year to $304 million, marking the highest level since becoming a public company [35] - Total AUM increased 23% year-over-year to $303 billion, driven by $51 billion of capital raised and $24 billion of value creation [35] Business Line Data and Key Metrics Changes - Software represents 11% of total AUM, with 18% in private equity and approximately 2% in credit [8] - The credit platform raised a record $21 billion during the year, up 67% from 2024, with a record $9 billion raised in the fourth quarter alone [17] - Private equity fundraising grew over 80% to $28 billion in 2025, while overall industry fundraising for PE declined 11% [20] - The real estate platform appreciated 9% in 2025, with $6 billion of capital deployed [25] Market Data and Key Metrics Changes - The company experienced double-digit value creation across nearly all platforms in 2025, with private equity strategies appreciating 11% over the last twelve months [37] - The credit platform also appreciated 11% over the last twelve months, maintaining strong credit quality with non-accruals just over 1% [38] - The real estate portfolios appreciated more than 9% for the year, driven by robust value creation in data center holdings and other sectors [39] Company Strategy and Development Direction - TPG aims to continue driving outsized growth by scaling existing and newer strategies, deepening integration of capital markets capabilities, and selectively capitalizing on inorganic opportunities [28] - The company is focused on expanding its private wealth strategy and enhancing its insurance solutions business, with a strategic partnership with Jackson Financial expected to close soon [12][42] - TPG plans to begin fundraising for several new funds in 2026, including TPG Real Estate's next fund and various Asia-focused funds [41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the firm's ability to sustain growth and deliver differentiated value for stakeholders, citing a strong performance in 2025 as a foundation for future success [47] - The company anticipates another robust year of capital formation in 2026, expecting aggregate capital raising to exceed $50 billion [41] - Management highlighted the importance of maintaining strong relationships with borrowers and sponsors to ensure credit quality and performance [50][54] Other Important Information - TPG's new and emerging strategies attracted over $7 billion of commitments in 2025, indicating effective identification and scaling of high-potential opportunities [16] - The company ended 2025 with $72 billion of dry powder, representing 43% of fee-earning AUM, positioning it well for future investments [35] Q&A Session Summary Question: Concerns about direct lending performance sustainability - Management acknowledged the market's skepticism regarding direct lending performance but emphasized the unique characteristics of their lower middle market focus, which differs from upper middle market dynamics [50][51] Question: Inquiry about transaction fees and revenue outlook - Management noted that transaction fees in Q4 were driven by increased deployment and diversification across various platforms, indicating a long-term growth opportunity in capital markets [65][66] Question: Outlook for net deployment in credit business - Management highlighted the significant growth in the credit business and the expected upward trend in deployment opportunities due to increased capital formation and synergies from the Angelo Gordon acquisition [76][77]

Financial Data and Key Metrics Changes - TPG reported GAAP net income attributable to TPG Inc. of $77 billion and after-tax distributable earnings of $304 million, or $0.71 per share of Class A common stock [4][35] - Full-year fee-related revenue reached $2.1 billion, including $628 million for the fourth quarter, which grew 36% year-over-year [31] - The company finished 2025 with $303 billion of total AUM, up 23% from 2024, driven by $51 billion of capital raised and $24 billion of value creation [35] Business Line Data and Key Metrics Changes - In credit, TPG raised a record $21 billion of credit capital during the year, up 67% from 2024, with a record $9 billion raised in the fourth quarter alone [17] - Private equity fundraising grew over 80% to $28 billion in 2025, while overall industry fundraising for PE declined 11% [20] - The real estate platform appreciated 9% in 2025, with $6 billion of capital deployed [25] Market Data and Key Metrics Changes - Software represents 11% of total AUM, with 18% in private equity and approximately 2% in credit [8] - The company ended 2025 with $72 billion of dry powder, representing 43% of fee-earning AUM [35] Company Strategy and Development Direction - TPG aims to continue driving outsized growth by scaling existing and newer strategies, deepening integration of capital markets capabilities, and selectively capitalizing on inorganic opportunities [28][29] - The company is focused on expanding its private wealth strategy and enhancing its insurance solutions business [12][43] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to sustain growth and deliver differentiated value for stakeholders, expecting 2026 to be another robust year of capital formation with aggregate capital raising expected to exceed $50 billion [40][41] - The company highlighted the importance of avoiding capital loss and managing exposures in the lending markets, particularly in the lower middle market [56] Other Important Information - TPG announced a long-term strategic partnership with Jackson Financial, which is expected to provide predictable fee revenue and enhance credit capabilities [12] - The company launched several new products in 2025, including Tika, a growth equity strategy, and Advantage Direct Lending, a new core middle market direct lending strategy [15] Q&A Session Questions and Answers Question: Concerns about direct lending performance sustainability - Management emphasized the differences between lower middle market lending and upper middle market lending, highlighting their unique position and rigorous monitoring of borrower performance [50][51][54] Question: Inquiry about transaction fees and revenue outlook - Management noted that transaction fees in Q4 were driven by increased deployment and diversification across various platforms, indicating a long-term growth opportunity in capital markets [66][67] Question: Outlook for net deployment in credit business - Management discussed the significant growth in credit capital and the synergies from the TPG and Angelo Gordon collaboration, which are expected to enhance deployment opportunities [78]

Financial Data and Key Metrics Changes - TPG reported GAAP net income attributable to TPG Inc. of $77 billion and after-tax distributable earnings of $304 million, or $0.71 per share of Class A common stock [3] - Full-year fee-related revenue reached $2.1 billion, including $628 million for the fourth quarter, which grew 36% year-over-year [29] - The company finished 2025 with $303 billion of total AUM, up 23% from 2024, driven by $51 billion of capital raised and $24 billion of value creation [34] Business Line Data and Key Metrics Changes - Software represents 11% of total AUM, with 18% in private equity and approximately 2% in credit [6] - The credit platform raised a record $21 billion of credit capital during the year, up 67% from 2024 [16] - Private equity fundraising grew over 80% to $28 billion in 2025, while overall industry fundraising for PE declined 11% [19] Market Data and Key Metrics Changes - The company ended 2025 with $72 billion of dry powder, representing 43% of fee-earning AUM [34] - The private equity strategies appreciated 3% in the fourth quarter and 11% over the last twelve months [36] - The credit platform also appreciated 3% in the quarter and 11% over the last twelve months [36] Company Strategy and Development Direction - TPG aims to continue driving outsized growth by scaling existing and newer strategies, deepening integration of capital markets capabilities, and selectively capitalizing on inorganic opportunities [27] - The company is focused on expanding its private wealth strategy and enhancing its insurance solutions business [11][41] - TPG plans to begin fundraising for several new funds in real estate and credit, indicating a multiyear period of growth [40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of performance and the ability to maintain strong capital formation, expecting 2026 to exceed $50 billion in capital raising [39] - The company highlighted the importance of differentiating its offerings in the market, particularly in the lower middle market, which is less competitive than the upper middle market [50] - Management noted that the strong performance and disciplined investment approach position TPG well to capitalize on attractive investments [9] Other Important Information - TPG's new and emerging strategies attracted over $7 billion of commitments in 2025, underscoring the firm's ability to identify and scale high-potential opportunities [14] - The company reported a record FRE margin of 52% in the fourth quarter and a full-year FRE margin of 45%, reflecting significant capital markets revenue [32] Q&A Session Summary Question: Concerns about sustaining performance in direct lending - Management emphasized the unique dynamics of the lower middle market, where TPG operates as a primary lender with higher coverage ratios and disciplined lending practices [50][51] - They highlighted their rigorous monitoring processes and strong relationships with borrowers, which enhance their ability to value the portfolio accurately [52][54] Question: Inquiry about transaction fees and revenue outlook - Management noted that transaction fees in Q4 were driven by a broadening capital markets business and a significant increase in deployment activity [66] - They expect capital markets to be a long-term growth opportunity, despite some lumpiness in revenue [66] Question: Outlook for net deployment in credit - Management indicated that the credit business has seen substantial growth in capital formation and deployment, particularly in structured credit and new strategies like Advantage Direct Lending [78][79]

Core Viewpoint - TPG Inc. is preparing to release its quarterly earnings on February 5, 2026, with expectations of an EPS of $0.64 and revenue of approximately $547.9 million, which could significantly impact its stock price [1][6] Financial Performance - Analysts predict a year-over-year increase in earnings for the quarter ending December 2025, with a consensus estimate of $0.64 per share [2] - In the previous quarter, TPG reported earnings of $0.53 per share and revenue of $509 million, reflecting a 10.8% increase in revenue compared to the same quarter the previous year [3][6] - TPG achieved a net margin of 2.83% and a return on equity of 25.79% in the previous quarter [3] Valuation Metrics - TPG's price-to-earnings (P/E) ratio is approximately 70.09, indicating high investor confidence [4][6] - The price-to-sales ratio stands at 7.11, and the enterprise value to sales ratio is 7.58, reflecting the company's valuation [4] - The debt-to-equity ratio is 2.18, indicating significant debt usage compared to equity [4][6] Future Outlook - The upcoming earnings call is crucial for understanding TPG's future prospects and management's strategies for maintaining growth and managing financial metrics [5]

TPG Reports Fourth Quarter and Full Year 2025 Results San Francisco and Fort Worth, Texas – February 5, 2026 – TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, today reported its unaudited results for the fourth quarter and full year ended December 31, 2025. A detailed presentation is available through the Investor Relations section of TPG's website at shareholders.tpg.com. "2025 was an outstanding year for TPG, marked by exceptional execution across our global franchise. We achie ...

TPG Inc. (TPG) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of $0.64 per share. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +10.64%. A quarter ago, it was expected that this company would post earnings of $0.55 per share when it actually produced earnings of $0.53, delivering a surprise of -3.64%.Over the last four quarters, the company has sur ...