TPG Inc. (NASDAQ:TPG) Q3 2024 Results Conference Call November 4, 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
Glenn Schorr - Evercore
Craig Siegenthaler - Bank of America
Ken Worthington - JPMorgan
Michael Cyprys - Morgan Stanley
Brennan Hawken - UBS
Kyle Boyd - KBW
Mike Brown - Wells Fargo Securities

Operator

Good morning, and welcome to the TPG's Third Quarter 2024 Earnings Conference Call. Currently, all callers have been placed on listen-only mode. And following management’s prepared remarks, the call will be open 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, operator, and welcome, everyone. Joining me this morning are Joh Wicklereed, Chief Executive Officer; and Jack Weingardt, Chief Financial Officer. In addition, our Executive Chairman and Co-Founder, Jim Colter; 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 third quarter, we reported GAAP net income attributable to TPG Inc. of $9 million and after-tax distributable earnings of $189 million or $0.45 per share of Class A common stock. We declared a dividend of $0.38 per share of Class A common stock, which will be paid on December 2, 2024, for holders of record as of November 14, 2024.