TPG said on Tuesday its after-tax distributable earnings rose to $199 million in the first quarter, up from $65 million a year earlier, adding that its private equity and impact investing businesses had delivered strong growth in asset sales.
TPG’s result exceeded the average analyst estimate of $149 million calculated by financial data provider Refinitiv.
The performance was in line with Blackstone, KKR and Carlyle, which all reported bumper profits despite soaring inflation, rising interest rates and Russia’s invasion of Ukraine.
TPG said it generated $4.8 billion from cashing out its investments. That includes cybersecurity software provider McAfee, which TPG and Thoma Bravo sold to a consortium of investment firms in a $14 billion deal.
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