TPG Results Presentation Deck
After-Tax Distributable Earnings
After-tax Distributable Earnings more than tripled from $65 million in pro forma 1Q'21 to $199 million for
1Q'22, primarily from realized performance allocations, net from the Capital and Impact platforms, with
additional expansion in Fee-Related Earnings which grew 38% over the same period
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As a percentage of After-tax Distributable Earnings, Fee-Related Earnings accounted for 52% in 1Q'22 LTM
on a pro forma basis
$99
1Q'21
$65
After-Tax DE
($M)
■Actual ■Pro Forma
$199
1Q'22
$1,339
$672
1Q'22 LTM
79%
After-Tax DE Mix
1Q'22 LTM
3%
18%
48%
Pro Forma 1Q'22 LTM
<1%
Fee-Related Earnings
Realized Performance Allocations, Net
Investment Income and Other
Note: Pro forma financial measures are on an adjusted basis, assuming the Reorganization and IPO occurred on January 1, 2020; see the Supplemental Details section of this presentation for a full reconciliation and description of adjustments.
52%
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