Private equity firm TPG Inc. said Monday its fourth-quarter pro forma GAAP earnings rose to $76.15 million, or 25 cents a share, from $74.4 million, or 24 cents a share, in the year-ago quarter. Fourth-quarter pro forma non-GAAP after-tax distributable earnings rose to $137 million from $102 million. Fourth-quarter pro forma non-GAAP fee-related revenue rose to $238 million from $201 million. Analysts expected TPG to earn 41 cents a share, according to a FactSet survey. Total fourth-quarter revenue fell to $1.08 billion from $1.55 billion. Adjusted fee related revenue rose to $239 million from $199 million. Net income attributable to controlling interests fell to $325.86 million from $608.16 million. Total assets under management ended the year at $114 billion, up 27%. After tax distributable earnings rose to $307.2 million from $246.4 million. Shares of TPG are down 11.8% so far in 2022, compared to a drop of 4.7% by the S&P 500. The stock rose 1.7% in premarket trades. TPG’s initial public offering debuted at $29.50 a share on Jan. 12.
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