# TPG Inc.

Summary updated: 2026-10-02T10:22:57.81008Z
Canonical: https://finbar.com/research/companies/tpg

## Overview

TPG Inc. is a global alternative-asset management firm that invests and manages capital through funds and related vehicles. Its investment platforms include private equity, growth investing, impact and climate investing, credit, real estate and market solutions. Founded in San Francisco in 1992, the firm describes its approach as creating meaningful long-term value and helping companies become healthier, more strategic and more growth-oriented. [1](https://app.finbar.com/go?id=P120423123)[2](https://app.finbar.com/go?id=P49642018)[3](https://app.finbar.com/go?id=P4270589)[4](https://www.tpg.com/approach)[5](https://app.finbar.com/go?id=P54329591)

At December 31, 2025, TPG reported $303.0 billion in assets under management, more than 1,900 employees and offices in 16 countries. For the fiscal year ended December 31, 2025, it reported $4.670 billion in consolidated total revenue. These are FY2025 figures; the latest available filing in the reviewed materials covers the second quarter of 2026. [1](https://app.finbar.com/go?id=P120423123)[6](https://app.finbar.com/go?id=P26150198)[7](https://app.finbar.com/go?id=T7855441)[8](https://app.finbar.com/go?id=D352249)
[1](https://app.finbar.com/go?id=P120423123)[2](https://app.finbar.com/go?id=P49642018)[3](https://app.finbar.com/go?id=P4270589)[4](https://www.tpg.com/approach)[5](https://app.finbar.com/go?id=P54329591)[6](https://app.finbar.com/go?id=P26150198)[7](https://app.finbar.com/go?id=T7855441)[8](https://app.finbar.com/go?id=D352249)[4](https://www.tpg.com/approach)

## Products & services

TPG offers investment products through six platforms: Capital, Growth, Impact, Credit, Real Estate and Market Solutions. Its named offerings include TPG Capital and TPG Healthcare Partners; TPG Growth and TPG Tech Adjacencies; The Rise Funds and TPG Rise Climate; TPG Credit Solutions, TPG Direct Lending and TPG Asset Based Finance; TREP and TRECO; and TPG GP Solutions, TPG NewQuest and TPG Peppertree. As of June 30, 2026, reported assets under management by platform ranged from $20.1 billion in Market Solutions to $101.2 billion in Credit. [9](https://app.finbar.com/go?id=T16707735)

TPG Capital pursues large-scale, control-oriented investments, including buyouts, corporate carve-outs and growth equity, while TPG Healthcare Partners invests across healthcare providers, payors, pharmaceuticals, medical devices and healthcare technology. TPG Growth targets earlier-stage or smaller companies; TPG Tech Adjacencies makes minority and/or structured investments in internet, software and digital media businesses, including liquidity and growth capital. TPG Life Sciences Innovation invests in therapeutics, digital health, devices, diagnostics and technology-enabled services. [10](https://app.finbar.com/go?id=P28191422)[11](https://app.finbar.com/go?id=P65107506)[12](https://app.finbar.com/go?id=P76384924)[13](https://app.finbar.com/go?id=P36000985)[14](https://app.finbar.com/go?id=P119658830)[15](https://app.finbar.com/go?id=P7714745)

The Rise Funds invest in companies intended to combine financial returns with measurable societal impact, including in climate, education, financial inclusion, food and agriculture, and healthcare. TPG Rise Climate targets climate-related investment themes such as clean electrons, clean molecules and materials, and adaptation. TPG’s credit offerings span private and tradable corporate and asset-backed credit; TPG Direct Lending focuses on diversified senior-secured loans to lower-middle-market businesses, including first-lien loans and revolvers. [16](https://app.finbar.com/go?id=P81182213)[17](https://app.finbar.com/go?id=P72502850)[18](https://app.finbar.com/go?id=P24139666)[19](https://app.finbar.com/go?id=P121793337)[20](https://app.finbar.com/go?id=P87500347)

TPG’s real-estate offerings include TPG Real Estate Partners, TPG Real Estate Thematic Advantage Core-Plus, TPG AG U.S./Europe Real Estate, TPG Asia Real Estate, TPG Net Lease, TRTX and TRECO. Strategies include opportunistic or value-add investment in real estate across the U.S., Asia and Europe; TPG Net Lease focuses on single-tenant commercial properties, often acquired through sale-leasebacks. The firm also provides asset-management services: for the six months ended June 30, 2026, fee-related revenue comprised $992.0 million in management fees, $17.2 million in fee-related performance revenue, and $176.2 million in transaction, monitoring and other fees. These are firm-level categories rather than product-level revenue shares. [21](https://app.finbar.com/go?id=P9592631)[22](https://app.finbar.com/go?id=T16707748)
[9](https://app.finbar.com/go?id=T16707735)[10](https://app.finbar.com/go?id=P28191422)[11](https://app.finbar.com/go?id=P65107506)[12](https://app.finbar.com/go?id=P76384924)[13](https://app.finbar.com/go?id=P36000985)[14](https://app.finbar.com/go?id=P119658830)[15](https://app.finbar.com/go?id=P7714745)[16](https://app.finbar.com/go?id=P81182213)[17](https://app.finbar.com/go?id=P72502850)[18](https://app.finbar.com/go?id=P24139666)[19](https://app.finbar.com/go?id=P121793337)[20](https://app.finbar.com/go?id=P87500347)[21](https://app.finbar.com/go?id=P9592631)[22](https://app.finbar.com/go?id=T16707748)

## Geographic presence

TPG Inc.’s primary investment region is North America, which also generates the majority of its customer-contract revenue; the company does not disclose a regional revenue percentage. Its investment activity also spans Europe and Asia-Pacific. As of June 30, 2026, TPG reported $60.7 billion of AUM in TPG Capital, focused on North America and Europe; $23.6 billion in TPG Asia, focused on Asia-Pacific, including Australia, India, Korea and Southeast Asia; and $6.3 billion in TPG Asia Real Estate, with investments primarily in Japan, South Korea, Hong Kong, China and Singapore. These are strategy-level AUM figures, not a complete geographic allocation of firmwide AUM. [23](https://app.finbar.com/go?id=P145979898)[24](https://app.finbar.com/go?id=P145980395)[25](https://app.finbar.com/go?id=P145980401)[26](https://app.finbar.com/go?id=P145980470)

Other region-specific strategies include Multi-Asset Credit, with $2.5 billion of AUM and a U.S. and Western Europe focus, and CLOs, with $8.7 billion of AUM across U.S. and European vehicles. [27](https://app.finbar.com/go?id=P145980454)[28](https://app.finbar.com/go?id=P145980452) TPG’s principal executive office is in Fort Worth, Texas; its leased offices span 16 countries and include Amsterdam, Beijing, Chicago, Dubai, Frankfurt, Hong Kong, London, Los Angeles, Melbourne, Milan, Mumbai, New York, San Francisco, Seoul, Shanghai, Singapore, Tokyo and Washington, D.C., among other locations. At December 31, 2025, TPG employed more than 1,900 people, including approximately 690 investment and operations professionals; it does not report their geographic distribution. [29](https://app.finbar.com/go?id=P6517563)[6](https://app.finbar.com/go?id=P26150198)
[23](https://app.finbar.com/go?id=P145979898)[24](https://app.finbar.com/go?id=P145980395)[25](https://app.finbar.com/go?id=P145980401)[26](https://app.finbar.com/go?id=P145980470)[27](https://app.finbar.com/go?id=P145980454)[28](https://app.finbar.com/go?id=P145980452)[29](https://app.finbar.com/go?id=P6517563)[6](https://app.finbar.com/go?id=P26150198)

## Business segments

TPG Inc. reports one operating and reportable segment; it does not report separate GAAP segments for its investment platforms. The company also describes its operations through six platforms, whose relative size can be approximated using assets under management (AUM), rather than segment revenue or earnings. [30](https://app.finbar.com/go?id=P145979987)[31](https://app.finbar.com/go?id=P95552828)

As of June 30, 2026, the platform AUM mix was approximately: Credit, 31.0% ($101.2 billion); Capital, 28.8% ($94.1 billion); Real Estate, 12.8% ($41.9 billion); Impact, 10.7% ($34.9 billion); Growth, 10.6% ($34.6 billion); and Market Solutions, 6.2% ($20.1 billion), of $326.8 billion in total platform AUM. Percentages are calculated from reported AUM and are approximate. [9](https://app.finbar.com/go?id=T16707735)

The platforms focus on distinct investment activities: Capital pursues large-scale control, co-control and thematic investments; Growth invests flexibly in rapidly growing businesses; Impact targets societal benefits alongside financial returns; Credit offers diversified credit solutions; Real Estate invests across multiple real estate products; and Market Solutions uses TPG’s ecosystem to address market opportunities. These are platform descriptions, not separately reported financial segments. [9](https://app.finbar.com/go?id=T16707735)
[30](https://app.finbar.com/go?id=P145979987)[31](https://app.finbar.com/go?id=P95552828)[9](https://app.finbar.com/go?id=T16707735)

## Company history

TPG traces its origins to 1992, when former Bass Family Office colleagues Jim Coulter and David Bonderman left Bass. Following their successful bid for Continental Airlines in 1993, Coulter, Bonderman, and Bill Price founded TPG. [32](https://www.tpg.com/about-us)[33](https://www.tpg.com/news-and-insights/remembering-david-bonderman) The firm expanded into growth investing with TPG Growth in 2007 and established a real-estate investing practice in 2009. [34](https://www.tpg.com/platforms/growth/tpg-growth)[21](https://app.finbar.com/go?id=P9592631) In 2016, it launched The Rise Fund, extending its activities into impact investing. [35](https://www.tpg.com/platforms/impact/the-rise-funds)

Jon Winkelried joined as co-CEO in 2015; in 2021, he became sole CEO and Coulter became executive chairman. [36](https://www.tpg.com/news-and-insights/jon-winkelried-join-tpg-co-chief-executive-officer)[37](https://www.tpg.com/news-and-insights/tpg-announces-leadership-transition) TPG completed its initial public offering and began trading on Nasdaq under the ticker TPG on January 18, 2022. [38](https://www.tpg.com/news-and-insights/tpg-announces-closing-initial-public-offering) In 2023, it completed the acquisition of voting interests and significant economics in Angelo, Gordon & Co. and affiliated entities, expanding its credit and real-estate businesses. [39](https://app.finbar.com/go?id=P64448844)
[21](https://app.finbar.com/go?id=P9592631)[39](https://app.finbar.com/go?id=P64448844)[32](https://www.tpg.com/about-us)[33](https://www.tpg.com/news-and-insights/remembering-david-bonderman)[34](https://www.tpg.com/platforms/growth/tpg-growth)[35](https://www.tpg.com/platforms/impact/the-rise-funds)[36](https://www.tpg.com/news-and-insights/jon-winkelried-join-tpg-co-chief-executive-officer)[37](https://www.tpg.com/news-and-insights/tpg-announces-leadership-transition)[38](https://www.tpg.com/news-and-insights/tpg-announces-closing-initial-public-offering)

## Sources

1. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P120423123)
2. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P49642018)
3. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P4270589)
4. [www.tpg.com](https://www.tpg.com/approach)
5. [TPG Inc. — Press release (2025 Y)](https://app.finbar.com/go?id=P54329591)
6. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P26150198)
7. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T7855441)
8. [TPG Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=D352249)
9. [TPG Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16707735)
10. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P28191422)
11. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P65107506)
12. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P76384924)
13. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P36000985)
14. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P119658830)
15. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P7714745)
16. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P81182213)
17. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P72502850)
18. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P24139666)
19. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P121793337)
20. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P87500347)
21. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P9592631)
22. [TPG Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16707748)
23. [TPG Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P145979898)
24. [TPG Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P145980395)
25. [TPG Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P145980401)
26. [TPG Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P145980470)
27. [TPG Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P145980454)
28. [TPG Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P145980452)
29. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P6517563)
30. [TPG Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P145979987)
31. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P95552828)
32. [www.tpg.com](https://www.tpg.com/about-us)
33. [www.tpg.com](https://www.tpg.com/news-and-insights/remembering-david-bonderman)
34. [www.tpg.com](https://www.tpg.com/platforms/growth/tpg-growth)
35. [www.tpg.com](https://www.tpg.com/platforms/impact/the-rise-funds)
36. [www.tpg.com](https://www.tpg.com/news-and-insights/jon-winkelried-join-tpg-co-chief-executive-officer)
37. [www.tpg.com](https://www.tpg.com/news-and-insights/tpg-announces-leadership-transition)
38. [www.tpg.com](https://www.tpg.com/news-and-insights/tpg-announces-closing-initial-public-offering)
39. [TPG Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P64448844)

AI-generated summary; may contain errors. Not investment advice. Sign up to Finbar to view original document sources and access worldwide fundamental financial data and intelligence.