Financial PerformanceHigh quality and recurring fee-related earnings comprise over 85% of TPG's pretax income, versus the average alt asset manager peer at 70%.
Market PositionTPG is well positioned to penetrate the private credit and infrastructure growth opportunities, driven by recent acquisition of Angelo Gordon and a unique impact investing platform that's a differentiator versus peers.
Valuation And Growth PotentialModerate current valuation points to re-rating potential; TPG trades at a 5.5 turn discount to larger, balance sheet-light peers.