TPG Inc. (NASDAQ:TPG) Q3 2023 Earnings Conference Call November 7, 2023 11:00 AM ET

Company Participants

Gary Stein - Head, Investor Relations

Jon Winkelried - Chief Executive Officer

Jack Weingart - Chief Financial Officer

Conference Call Participants

Alex Blostein - Goldman Sachs

Craig Siegenthaler - Bank of America

Ken Worthington - JPMorgan

Michael Cyprys - Morgan Stanley

Michael Brown - KBW

Brian Bedell - Deutsche Bank

Adam Beatty - UBS

Luke Mason - BNP Paribas

Operator

Good morning and welcome to TPG's Third Quarter 2023 Earnings Conference Call. Currently, all callers have been placed in a listen-only mode and following the management's prepared remarks, the call will be opened up for your questions. [Operator Instructions] Please be advised that today's call is being recorded. Please go to TPG's IR website to obtain the earnings materials.

I will now turn the call over to Gary Stein, Head of Investor Relations at TPG. Thank you. You may begin.

Gary Stein

Great. Thanks Angela and welcome everyone. Joining me this morning are Jon Winkelried, Chief Executive Officer; and Jack Weingart, Chief Financial Officer.

I'd like to remind you this call may include forward-looking statements that do not guarantee future events or performance. Please refer to TPG's earnings release and SEC filings for factors that could cause actual results to differ materially from these statements. TPG undertakes no obligation to revise or update any forward-looking statements except as required by law.

Within our discussion and earnings release, we'll be discussing certain non-GAAP measures on this call that we believe are relevant in assessing the financial performance of the business. These non-GAAP measures are reconciled to the nearest GAAP figures in TPG's earnings release, which is available on our website. Please note that nothing on this call constitutes an offer to sell or a solicitation of an offer to purchase an interest in any TPG fund.

Looking briefly at our results for the third quarter, we reported GAAP net income attributable to TPG Inc. of $15 million and after tax attributable earnings of $196 million or $0.56 per share of Class A common stock. We declared a dividend of $0.48 per share of Class A common stock which will be paid on December 1st to holders of record as of November 17th.

With that, I'll turn the call over to Jon.

Jon Winkelried

Thanks Gary. Good morning everyone. I want to start by acknowledging the recent tragic events and continued loss of life in the Middle East. We strongly condemn the terrorist attacks against Israel and are deeply saddened by the ongoing humanitarian crisis in the region. We're focused on supporting our colleagues and their families and our thoughts are with all who have been impacted by these terrific events.