Markets

TPG Stock Soars 8%, Adding $558 Million, As Firm Says It Will Top $50 Billion Fundraising Goal

The asset manager's biggest one-day gain since August followed third-quarter results and a record $86 billion of dry powder.

TPG, the alternative asset manager, saw its shares climb 7.51% to $47.94 at Thursday's close, adding $558 million in market value, after it said it expects to exceed its $50 billion fundraising target for 2026.

Record dry powder, $15 billion raised

In its third-quarter release on Thursday, TPG said it raised $15 billion in the quarter and nearly $42 billion so far this year. It reported record dry powder, the uninvested capital it can deploy, of $86 billion, and $346 billion of assets under management.

Quarterly revenue was $638.07 million, up from $509.4 million a year earlier, and adjusted earnings were $0.65 per share against $0.53, according to Zacks.

TPG declared a quarterly dividend of $0.55 per Class A share, payable on Nov. 23 to holders of record on Nov. 9.

A slice of a 30% slide

Thursday was TPG's biggest one-day gain since Aug. 13, when the stock rose 8.5%. Even so, the shares were down about 30% year to date at Wednesday's close, while the S&P 500 was up about 13%. That close sat 36% below the highest close of the past year, set on Jan. 6.

TPG invests money for clients, mainly in private equity, credit and real estate, across six platforms. Credit is the largest at $93.1 billion of assets under management, ahead of Capital at $90.9 billion, as of December 31, 2025, when the firm managed $303.0 billion in total.

Cautions from the earnings call

On the earnings call, management said proceeds from asset sales mostly returned cost and covered unrealized losses. Chief Executive Jon Winkelried flagged "Some Level Of Distress" coming in data center financing.

The dividend goes to holders of record on Nov. 9 and is payable on Nov. 23.