TPG Inc. (TPG) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

I will now turn the call over to Gary Stein, Head of Investor Relations at TPG. Thank you. You may begin. Great. Thanks, operator, and welcome, everyone. Joining me today 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 here with us for the Q&A portion of this call. Nihal Raj is also joining us today for the Q&A session, given his role leading the software sector at TPG. 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 fourth quarter, we reported gap net income attributable TPG Inc. of $77 million, and after-tax distributable earnings of $304 million, or 71 cents per share of Class A common stock. We declared a dividend of 61 cents per share of Class A common stock, which will be paid on March 5th, 2026, to holders of record as of February 19th, 2026. With that, I'll turn the call over to John. Good morning, everyone. Thank you for joining us. We look forward to discussing our strong results for the fourth quarter and full year. 2025 was a breakout year for TPG, and we entered 2026 with strong momentum. Before we turn to our results, I did want to briefly touch on a topic that has been top of mind for investors around the intersection of software and AI. This is an important question, but not a new one for us at TPG. As a firm who's been investing in AI solutions for over a decade, the question of where AI is an opportunity in technology and where it poses a risk is deeply embedded in our investment approach. Let me put our software investing activities in context and talk about our approach...