)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
TPG (TPG) investor relations material
TPG Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Reported net income of $199.2M for Q3 2025, up from a net loss of $21.4M in Q3 2024, and after-tax attributable earnings of $214M ($0.53 per share).
Raised over $18B in capital in Q3, up 60% sequentially and 75% year-over-year, with $35B raised year-to-date, surpassing 2024's total.
Deployed nearly $15B in Q3, up more than 70% year-over-year, with diversified investment activity across asset classes.
Total AUM reached $286.4B as of September 30, 2025, up 20% year-over-year.
Declared a $0.45 per share dividend for Class A common stock, payable December 1, 2025.
Financial highlights
Total revenues for Q3 2025 were $1.22B, a 43% increase year-over-year, driven by higher management fees and performance allocations.
Management fees reached $470.5M in Q3, up 15% year-over-year, driven by new fund activations and acquisitions.
Fee-related earnings (FRE) were $225M, up 18% year-over-year, with a margin of 44%.
Distributable earnings (DE) for Q3 2025 were $229.7M, including $30M of realized performance allocations.
Cash and cash equivalents stood at $1.08B as of September 30, 2025.
Outlook and guidance
Management expects continued robust fundraising and AUM growth in Q4 and 2026, supported by new fund launches and recent acquisitions.
FRE margin expected to expand beyond mid-40s as business scales, with ongoing investments in growth initiatives.
Anticipate further growth in private wealth and insurance channels, and new product launches across asset classes.
Management remains optimistic but notes risks from market, operational, and regulatory uncertainties.
Capital formation drivers beyond PE/credit?
How was the $15B deployment diversified?
How does diversification drive future growth?
How does TPG leverage AI for portfolio growth?
Explain the "graduating companies" credit strategy.
What drives future PRE from recent monetizations?
Inorganic growth: What areas are you targeting?
Credit growth drivers beyond current momentum?
FRE margin: What drives expansion beyond mid-40s?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next TPG earnings date
Q4 202513 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
TPG Inc. is a global alternative asset management firm specializing in private equity, growth capital, real estate, impact investing, and public market strategies. The company manages a diversified portfolio of investments across industries such as technology, healthcare, consumer goods, and financial services. TPG provides capital and strategic expertise to support the growth and transformation of its portfolio companies. TPG is headquartered in Fort Worth, Texas, and San Francisco, California, and its shares are listed on the NASDAQ.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage