TPG 3Q Net Up Amid New Wave of LBO Deals

Dow Jones
2025/11/04
 

By Rob Curran

 

TPG's third-quarter net income rose sharply amid a surge in revenue and assets under management, a sign that leveraged buyout deals are flourishing again.

The San Francisco investment firm's earnings rose to $67.1 million, or 20 cents of a share, from $9 million a year earlier. For third quarter of 2024, TPG logged a loss of 8 cents a share due to the effects of losses attributable to non-controlling interests.

Revenue rose 43% to $1.22 billion.

Fee-related earnings rose 18% to $225 million.

Total expenses rose 19% to $1.03 billion.

The buyout firm, which was formerly known as Texas Pacific Group and maintains a second headquarters in Fort Worth, said assets under management rose 20% to $286.4 billion. The company raised $18 billion of capital in the third quarter, with strong demand for its private-equity funds and credit investments.

In October, TPG and rival Blackstone teamed up to buy women's health firm Hologic for up to $18.3 billion, including debt.

After a lull in recent years, leveraged buyouts have regained popularity. Videogame maker Electronic Arts agreed to the largest LBO on record in September.

 

Write to Rob Curran at rob.curran@wsj.com

 

(END) Dow Jones Newswires

November 04, 2025 08:00 ET (13:00 GMT)

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