TPG Inc. (NASDAQ:TPG) Q2 2024 Earnings Call August 6, 2024 11:00 AM ET

Company Participants

Gary Stein - Head, Investor Relations
Jon Winkelried - Chief Executive Officer
Jack Weingart - Chief Financial Officer
Jim Coulter - Executive Chairman and Co-Founder
Todd Sisitsky - President

Conference Call Participants

Alex Blostein - Goldman Sachs
Craig Siegenthaler - Bank of America
Michael Cyprys - Morgan Stanley
Ken Worthington - JPMorgan
Glenn Schorr - Evercore
Adam Beatty - UBS
Brian McKenna - Citizens JMP
Dan Fannon - Jefferies
Bill Katz - TD Cowen
Brian Bedell - Deutsche Bank

Operator

Good morning and welcome to the TPG Second Quarter 2024 Earnings Conference Call. [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 now begin.

Gary Stein

Thanks, operator and welcome everyone. Joining me this morning are Jon Winkelried, Chief Executive Officer and Jack Weingart, Chief Financial Officer. In addition, our Executive Chairman and Co-Founder, Jim Coulter; and our President, Todd Sisitsky, are also here and will be available for the Q&A portion of this morning’s call.

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’re presenting GAAP and non-GAAP measures, and we believe certain non-GAAP measures that we discuss on this call 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 second quarter we produced a GAAP net loss attributable to TPG, Inc. of $14 million and after-tax distributable earnings of $207 million or $0.49 per share of Class A common stock. We declared a dividend of $0.42 per share of Class A common stock which will be paid on August 30, 2024, to holders of record as of August 16, 2024.