TPG Results Presentation Deck
Fee-Related Earnings
Fee-Related Revenues increased 43% in 2Q'22 over pro forma 2Q'21, driven by an increase in Fee
Earning AUM of 28%, primarily in the Impact and Real Estate platforms
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Fee-Related Expenses increased 15% between 2Q'22 and pro forma 2Q'21 primarily due to headcount
growth driven by platform expansion and an increase in travel as COVID-19 restrictions ease
Fee-Related Earnings margin increased from 25% in pro forma 2Q'21 to 40% in 2Q'22; pro forma 2Q'22
LTM Fee-Related Earnings margin was 41%
$9
$45
Fee-Related Earnings
Actual
$102
($M)
Pro Forma
$43
$112
$194
Capital
$155
$12
$17
$16
$27
$82
Management Fees by Platform(1)
($M)
Growth Impact Real Estate
43%
$223
$18
$45
$43
$35
$81
$309
$25
$35
$33
$54
$163
37%
Market Solutions
$425
$37
$73
$85
$69
$162
2Q'22
2Q'21 YTD
2Q'22 YTD
2Q'21
2Q'22
2Q'21 YTD
2Q'22 YTD
2Q¹21
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.
1. There are no pro forma adjustments to management fees, and therefore the by-platform breakdown does not change between actual and pro forma figures.
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