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TPG’s Q4 earnings down 26% on lower asset sales

TPG Inc has become the latest private equity firm to report a decline in fourth quarter income on the back of a fall in corporate valuations which is having a negative impact on asset sales, according to a report by Reuters.

TPG Inc has become the latest private equity firm to report a decline in fourth quarter income on the back of a fall in corporate valuations which is having a negative impact on asset sales, according to a report by Reuters.

In press statement on Wednesday, TPG said that its fourth-quarter distributable earnings fell 26% year-on-year as it divested fewer investments in its private equity, growth, impact and real estate portfolios.

The Texas-based firm’s after-tax distributable earnings – the cash used to pay dividends to shareholders – fell from $307 million a year ago, to to $227 million.

TPG joins a growing list PE firms to see a Q4 decline in earnings including Blackstone Inc, Carlyle Group Inc, KKR & Co Inc, and Apollo Global Management Inc.

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