TPG’s fourth-quarter after-tax distributable earnings rose 34% year-on-year, driven by strong asset sales across its portfolio of private equity, impact investment, growth equity, and real estate assets.
TPG said it generated $7bn from asset divestments across its portfolio in the quarter and spent $8bn for new acquisitions, mostly in its private equity and real estate businesses.
Under generally accepted accounting principles, TPG reported a 46% drop in net income to $326m, owing to a slowdown in revenue from capital allocation activities. TPG said it ended the quarter with $114bn in assets under management and $28bn in unspent capital.
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