TPG Declares $0.55 Per-Share Distribution as Fee-Related Earnings Rise 43% in Third Quarter
Key Facts
On October 29, TPG declared a quarterly distribution of $0.55 per Class A common share, alongside results showing fee-related earnings rose 43% in the third quarter of 2026. Net income attributable to the company was $99.6 million, compared with $67.1 million in the same period a year earlier. After-tax distributable earnings also rose 24% to $264.8 million from $214.4 million. Both measures grew as total revenue edged down to $1,221.1 million from $1,223.5 million. According to EL7 data, the company's shares closed at $44.59 on October 28, before the results were announced.
Fee-related earnings were $321.4 million, compared with $225.0 million in the third quarter of 2025, according to the company's disclosure materials. The growth highlights the performance of its fee-based business in a quarter when total revenue did not rise, but instead recorded a slight year-over-year decline. After-tax distributable earnings were $264.8 million, up 24% from $214.4 million a year earlier. Net income attributable to TPG Inc. was $99.6 million, up from $67.1 million.
That represents a reduction from the previous quarterly distribution, despite growth in fee-related earnings and after-tax distributable earnings. Shareholders of record at the close of business on November 9 are eligible for the distribution. It is scheduled to be paid on November 23, 2026. These dates tie eligibility to the shareholder register on that date, while the announced distribution remains $0.55 per share.
TPG had $345.7 billion in assets under management as of September 30, 2026, up 21% over the previous 12 months. Fee-earning assets reached $189.5 billion, an annual increase of 16%. The difference between the growth rates reflects the expansion of the company's assets under management and fee-earning assets during the period, with fee-earning assets directly tied to the fee-related earnings measure. In the same quarter, the company raised $15 billion. Chief Executive John Winckelried said the total raised since the start of the year was about $42 billion.
Winckelried said the company expects to exceed its $50 billion fundraising target for 2026, after raising about $42 billion since the start of the year and $15 billion in the third quarter. He added that it has $86 billion of capital available to invest, describing it as a "record investable capital." That amount puts the financing available for investment alongside growth in assets under management and fee-earning assets. The current distribution is $0.55 per share and is to be paid on November 23 to shareholders of record on November 9. These developments follow the stock's close at $44.59 on October 28.