TPG has reported 65 per cent year-on-year development in its property beneath administration (AUM) to $229bn (£180bn) within the second quarter, boosted by its acquisition of credit score and actual property supervisor Angelo Gordon final 12 months.
The choice asset supervisor’s credit score division noticed its AUM rise 10.1 per cent from $61.3m in the beginning of the quarter to $67.5m as of 30 June.
This was accompanied by extra marginal AUM development in different segments, reminiscent of capital and impression.
TPG acquired Angelo Gordon final 12 months, in a deal that was valued at $2.7bn. It was deemed a “strategic transaction” which strengthened TPG’s place as a diversified supervisor throughout non-public fairness, credit score, actual property and market options.
Learn extra: Abrdn sees non-public credit score property develop to £8.8bn in H1
TPG’s second-quarter figures confirmed that fee-related earnings elevated by 60 per cent year-on-year to $201m, whereas fee-earning AUM was up 74 per cent over the identical interval to $137bn.
Learn extra: L&G sees “good momentum” in non-public markets as AUM ticks as much as £52bn
“Our robust second quarter outcomes replicate the accelerating momentum in our enterprise as we proceed to efficiently scale and diversify,” mentioned chief govt Jon Winkelried.
“We completed the quarter with $229bn of AUM throughout greater than 30 differentiated funding methods in non-public fairness, credit score, and actual property. Over the previous 12 months, we drove a step-function change in our development profile and earnings energy because of each natural and inorganic exercise. Our agency is capitalising on our expanded breadth to ship robust funding efficiency for our purchasers and construct long run worth for our traders.”
Learn extra: Ex-TowerBrook and H/2 Capital veterans launch new agency