TPG Inc., an alternative asset management company, announced a decrease in its earnings for the third quarter on Monday. For the three months ending September 30, the company reported a net income of $9 million, translating to $0.04 per basic Class A share. This compared to a net income of $15 million, or $0.14 per basic Class A share, reported for the same period the previous year.
The firm's after-tax distributable earnings decreased to $189 million or $0.45 per Class A share, down from $196 million or $0.56 per Class A share in the previous year. On a positive note, fee-related earnings rose to $191 million, surpassing the prior year's figure of $156 million.
As of September 30, the total assets under management reached $239 billion, marking a 76% increase from $136 billion in 2023. TPG has declared a quarterly dividend of $0.38 per Class A share, scheduled for distribution on December 2 to shareholders on record as of November 14, 2024.
