TPG Inc.: Q1 FY2026 earnings call

What management said about Q1 FY2026, from the documents filed with the SEC on 1 May 2026: press release. Guidance figures: 1 lowered. The quarter’s numbers.

Key takeaways

Financial figures absent from release: The release says unaudited first quarter results were reported, but its text gives no revenue, earnings or margin figures. Source
Assets under management rose to $306 billion: Assets under management were $306 billion, up from $303 billion in the prior release. Source
Step-function growth described without figures: Management says the firm delivered step-function growth over the past year in capital formation, deployment and realizations; no figures for each are given. Source
Raised and deployed figures not restated: The prior release reported more than $51 billion raised and $52 billion deployed in 2025; this release gives no raised or deployed figure.
Quarterly dividend set at $0.59: Management declared a quarterly dividend of $0.59 per Class A share. Source
Uncertain macro environment named: Management says it delivered growth over the past year despite an uncertain macro environment, a condition it names directly. Source

“the significant momentum across our global platform, as the scale of our franchise and consistent execution continue to translate into powerful results.”
Jon Winkelried, Chief Executive Officer

Guidance

Area	Period	Figure	Against last quarter
Dividend Source	Quarterly dividend, record date May 11, 2026, payable May 26, 2026	$0.59 per share of Class A common stock	Lowered from $0.61 per share

Release scope and disclosures

Financial figures absent from release: The release says unaudited first quarter results were reported, but its text gives no revenue, earnings or margin figures. Source
Detailed presentation posted online: Management directs readers to a detailed presentation in the investor relations section of the company website. Source
Company profile and founding: The release describes the firm as a global alternative asset manager founded in San Francisco in 1992, datelined San Francisco and Fort Worth. Source

Assets under management and growth

Assets under management rose to $306 billion: Assets under management were $306 billion, up from $303 billion in the prior release. Source
Step-function growth described without figures: Management says the firm delivered step-function growth over the past year in capital formation, deployment and realizations; no figures for each are given. Source
Prior release cited value creation: The prior release cited double-digit value creation across nearly all platforms in 2025 as the company scaled.

“As our clients deepen their engagement with TPG, we are confident in our positioning and ability to deliver long-term growth and differentiated value for our stakeholders.”
Jon Winkelried, Chief Executive Officer

Capital formation and deployment

Raised and deployed figures not restated: The prior release reported more than $51 billion raised and $52 billion deployed in 2025; this release gives no raised or deployed figure.
Dry powder figure not repeated: The prior release cited $72 billion of dry powder; the first quarter release gives no current dry powder figure.
Prior release framed 2025 as record year: The prior release described 2025 as a year of new records across the global franchise.

Strategy and client engagement

Broad set of strategies listed: The release lists private equity, impact, credit, real estate and market solutions as the strategies TPG invests across. Source
Business model built for complexity: Management says the business model is intentionally built to handle complexity; the release gives no measures of that resilience. Source
Prior release cited 2026 momentum: The prior release said 2026 started with significant momentum and cited increased scale and diversification.

Capital returns and dividend

Quarterly dividend set at $0.59: Management declared a quarterly dividend of $0.59 per Class A share. Source
Dividend lower than prior release: The prior dividend was $0.61 per Class A share, so the declared amount is $0.02 lower.
Record and payment dates set: The dividend is payable to holders of record at the close of business on May 11, 2026, and paid on May 26, 2026. Source

Market conditions and framing

Uncertain macro environment named: Management says it delivered growth over the past year despite an uncertain macro environment, a condition it names directly. Source
Prior release framed market as evolving: The prior release said the firm was positioned to navigate an evolving market landscape.

Figures management reported

Figure	Reported
Assets under management Source	$306 billion

Risks management discussed

External: Management names an uncertain macro environment as a condition the firm operated through over the past year. Source

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.

As filed with the SEC

Open the filing on EDGAR

TPG Reports First Quarter 2026 Results

San Francisco and Fort Worth, Texas - May 1, 2026 - TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, today reported its unaudited results for the first quarter ended March 31, 2026. A detailed presentation is available through the Investor Relations section of TPG’s website at shareholders.tpg.com.

"TPG’s strong first quarter performance reflects the significant momentum across our global platform, as the scale of our franchise and consistent execution continue to translate into powerful results. Over the past year, despite an uncertain macro environment, we delivered step function growth across capital formation, deployment, and realizations,” said Jon Winkelried, Chief Executive Officer. “Our resilient business model is intentionally built to navigate complexity and capitalize on opportunity. As our clients deepen their engagement with TPG, we are confident in our positioning and ability to deliver long-term growth and differentiated value for our stakeholders."

Dividend

TPG has declared a quarterly dividend of $0.59 per share of Class A common stock to holders of record at the close of business on May 11, 2026, payable on May 26, 2026.

Conference Call

TPG will host a conference call and live webcast today at 10:00 am ET. It may be accessed by dialing (800) 343-4849 (US toll-free) or (203) 518-9848 (international), using the conference ID TPGQ126. The number should be dialed at least ten minutes prior to the start of the call. A simultaneous webcast will also be available and can be accessed through the Investor Relations section of TPG’s website at shareholders.tpg.com. A webcast replay will be made available on the Events page in the Investor Relations section of TPG’s website.

About TPG

TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $306 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.

Forward Looking Statements; No Offers

This document may contain “forward-looking” statements. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects” and similar references to future periods, or by the inclusion of forecasts or projections. Examples of forward-looking statements include, but are not limited to, statements we make regarding the outlook for our future business and financial performance, estimated operational metrics, business strategy and plans and objectives of management for future operations, including, among other things, statements regarding expected growth, future capital expenditures, fund performance, dividends and dividend policy, and debt service obligations.

Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by any forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the inability to recognize the anticipated benefits, or unexpected costs related to the integration, of acquired companies; our ability to manage growth and execute our business plan; and regional, national or global political, economic, business, competitive, market and regulatory conditions and uncertainties, among various other risks discussed in the Company’s SEC filings.

For the reasons described above, we caution you against relying on any forward-looking statements, which should be read in conjunction with the other cautionary statements included elsewhere in this document and risk factors discussed from time to time in the Company’s filings with the SEC, which can be found at the SEC’s website at http://www.sec.gov. Any forward-looking statement in this document speaks only as of the date of this document. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update or revise any forward-looking statement after the date of this document, whether as a result of new information, future developments or otherwise, except as may be required by law. No recipient should, therefore, rely on these forward-looking statements as representing the views of the Company or its management as of any date subsequent to the date of the document.

This document does not constitute an offer of any TPG fund.

Contacts
Shareholders · Gary Stein and Evanny Huang · shareholders@tpg.com
Media · Luke Barrett and Ethan Cherry · media@tpg.com