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# TPG Expects To Beat Its $50 Billion Fundraising Target After Raising $15 Billion In The Quarter
- URL: https://www.bullished.co/tpg-expects-to-beat-its-50-billion-fundraising-target-after-raising-15-billion-in-the-108b7063/
- Published: 2026-10-29T11:42:22.000Z
- Updated: 2026-10-29T11:42:22.000Z
- Description: The alternative asset manager's fee-related earnings rose 43% to $321 million, and its quarterly dividend fell to $0.55 a share.
- Author: Matteo Parrino
- Tags: Earnings, TPG, Industry: Financials

TPG, the alternative asset manager, said Thursday it [expects to exceed](https://www.businesswire.com/news/home/20261028913763/en/TPG-Reports-Third-Quarter-2026-Results?ref=bullished.co) its $50 billion fundraising target for the year, with [$15 billion raised in the third quarter](https://www.sec.gov/Archives/edgar/data/0001880661/000188066126000054/tpg3q26pressrelease.htm?ref=bullished.co) and nearly $42 billion so far in 2026\. Net income rose to $264 million from $199 million a year earlier, according to its results.

## Fundraising and a $86 billion war chest

CEO Jon Winkelried said the firm's investment performance and client relationships support the forecast to top [$50 billion](https://www.businesswire.com/news/home/20261028913763/en/TPG-Reports-Third-Quarter-2026-Results?ref=bullished.co). He also cited what he called a record $86 billion of dry powder, meaning capital committed by investors but not yet invested.

Capital raised in the quarter was $15.2 billion, against $18.1 billion in the third quarter of 2025, the [earnings presentation](https://www.sec.gov/Archives/edgar/data/0001880661/000188066126000054/tpg3q26earningsrelease.htm?ref=bullished.co) shows. Year to date, it raised $41.6 billion, up from $35.3 billion. Credit led the quarter at $5.8 billion.

Assets under management reached $345.7 billion, up 21% from a year earlier.

## Fee earnings climb 43%

Fee-related earnings, which measure profit from management fees and other recurring revenue, rose 43% to $321 million from $225 million. The margin on that business widened to 50% from 44%, which the company attributed to management fees and its capital markets business.

Catch-up management fees, paid for earlier periods when new investors joined funds, totaled $62 million, against $4 million a year earlier. Management fees were $573 million, up from $461 million.

Net income attributable to TPG Inc. rose to $100 million from $67 million. After-tax distributable earnings, the measure that drives the dividend, rose 24% to $265 million. Total revenue was little changed at $1.22 billion, as capital allocation-based income fell to $508 million from $627 million.

## A smaller dividend

TPG declared a quarterly dividend of $0.55 per Class A share, payable November 23 to holders of record on November 9\. The second-quarter dividend was $0.59\. After-tax distributable earnings were $0.65 per share, down from $0.69 in the second quarter.

TPG, which invests in private equity, credit, real estate and other strategies, held its earnings call at 11:00 a.m. ET Thursday.

The company's debt obligations stood at $2.3 billion at quarter end, with $1.9 billion of available liquidity.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — TPG Inc. (TPG)](https://www.sec.gov/Archives/edgar/data/0001880661/000188066126000054/tpg-20261029.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit tpg3q26pressrelease.htm — TPG Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001880661/000188066126000054/tpg3q26pressrelease.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit tpg3q26earningsrelease.htm — TPG Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001880661/000188066126000054/tpg3q26earningsrelease.htm?ref=bullished.co) — SEC EDGAR
- [TPG Asia VII raises US$4.6b – exceeds target](https://theedgemalaysia.com/article/tpg-asia-vii-raises-us46b-%E2%80%93-exceeding-target?ref=bullished.co) — The Edge Malaysia
- [TPG pursues $5 billion acquisition of British data centre group Ark, FT reports - CNA](https://www.channelnewsasia.com/business/tpg-pursues-5-billion-acquisition-british-data-centre-group-ark-ft-reports-6499061?ref=bullished.co) — channelnewsasia.com
- [TPG Reports Third Quarter 2026 Results](https://www.businesswire.com/news/home/20261028913763/en/TPG-Reports-Third-Quarter-2026-Results?ref=bullished.co) — businesswire.com