TPG Inc. (TPG) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

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 John Winkelried, Chief Executive Officer, and Jack Weingart, Chief Financial Officer. In addition, our executive chairman and co-founder, Jim Coulter, and our president, Todd Susitsky, 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 first quarter, we reported gap net income attributable to TPG Inc. of $25 million, and after-tax distributable earnings of $187 million, or 48 cents per share of Class A common stock. We declared a dividend of 41 cents per share of Class A common stock, which will be paid on June 2nd, 2025, to holders of record...