TPG Operating Group II L.P. - 6.95% NT REDEEM 15/03/2064 USD 25

Strong Earnings Growth: TPG reported after-tax distributable earnings of $282 million ($0.70 per share), reflecting a 46% year-over-year increase. Fee-related earnings grew 36% YOY, surpassing $1 billion in LTM for the first time in TPG's history, showcasing resilience amidst a complex macro backdrop.

Robust Capital Formation: TPG raised over $10 billion in the first quarter alone, up 75% YOY, with significant contributions from credit ($4.4 billion) and private equity ($4.9 billion). This capital influx positions TPG strongly for continued growth opportunities.

Active Deployment and Realizations: TPG invested over $14 billion this quarter, doubling YOY, with notable investments in credit and private equity. Nearly $9 billion in realizations were achieved, indicating strong asset performance and strategic exit opportunities.