TPG Inc. revenue by segment TPG

Annual Quarterly

TPG Inc. splits its revenue into 5 lines in its filings. The largest line in fiscal 2025, which ended Dec 31, 2025 was Management Fees at $1.8 billion, 75% of the total.

USD in millions. The percent under a figure is the change from the year before.

Line	FY 2026 Sep 30, 2026	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022
Revenue	2,753	2,424	2,087	1,535	1,247
Management Fees	2,059 +17.8% share 74.8%	1,826 +11.5% share 75.3%	1,638 +37.9% share 78.5%	1,188 +29.1% share 77.4%	920 share 73.8%
Expense Reimbursements And Other	270 -1.7% share 9.8%	288 +17.2% share 11.9%	246 +5.2% share 11.8%	234 +11.6% share 15.2%	209 share 16.8%
Transaction Fees	332 +135.5% share 12.1%	231 +64.6% share 9.5%	141 +41.4% share 6.7%	99 +1.6% share 6.5%	98 share 7.9%
Incentive Fees	57 +43.7% share 2.1%	49 +49.2% share 2.0%	33 +1073.4% share 1.6%	3 -45.7% share 0.2%	5 share 0.4%
Monitoring Fees	34 +6.6% share 1.2%	29 -2.1% share 1.2%	30 +172.6% share 1.4%	11 -24.2% share 0.7%	14 share 1.1%

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions. Each group is a separate split of total revenue, so the groups are not added together. Share of revenue is that line divided by total revenue. The first column adds the latest year-to-date segment amount to the last fiscal year and subtracts the year-ago year-to-date amount. More on our methodology.

Company profile

Industry: Investment Advice (SIC 6282)
Listed as: TPG (Nasdaq), TPGXL (Nasdaq)
Fiscal year ends: December 31
Incorporated in: DE
Headquarters: Fort Worth, TX
SEC filer status: Large accelerated filer
SEC CIK: 1880661
Former names: TPG Partners, LLC (until Jan 10, 2022)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.