TPG raises $15 bln in Q3, expects to surpass $50 bln fundraising goal

Overview

• Alternative asset manager raised $15 bln in Q3, expects to exceed $50 bln fundraising target for 2026

• Q3 EPS was $0.41

• Company declared Q3 dividend of $0.55 per share

Outlook

• TPG expects to exceed its $50 bln fundraising target for 2026

• Company sees an attractive investment environment ahead with $86 bln of dry powder

Result Drivers

• FUNDRAISING MOMENTUM - Co said strong investment performance and client relationships supported $15 bln raised in the qtr and put it on track to exceed full-yr fundraising target

• DRY POWDER - Co reported record $86 bln of dry powder, citing an attractive investment environment

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the investment management & fund operators peer group is "buy"

• Wall Street's median 12-month price target for TPG Inc is $58.00, about 30.1% above its October 28 closing price of $44.59

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago

Reuters Recommended Reads

• Oct 29 - Ares raises $31 billion on private credit, real assets fundraising strength

• Oct 27 - Advent raises $30 billion for latest buyout, mid-market funds

• Oct 29 - CVC says next buyout fund might surpass latest, assets jump one-fourth

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)