TPG is a global alternative asset manager with $303B in AUM. TPG raises capital from institutional investors, sovereign wealth funds, pension funds, high-net-worth individuals, and insurance companies, then deploys it across private equity, credit, and real estate strategies. TPG earns management fees for managing assets and earns carried interest — typically 20% of net profits above a preferred return — when investments are realized. TPG operates six platforms: Capital (~$91B AUM, large buyout private equity); Credit (~$93B AUM, the largest platform, spanning direct lending, structured credit, CLOs, and asset-based finance); Real Estate (~$38B AUM, equity and credit across the U.S., Europe, and Asia); Growth (~$32B AUM, growth equity and middle market buyouts); Impact (~$31B AUM, climate and impact investing); and Market Solutions (~$17B AUM, GP-led secondaries and infrastructure). TPG also earns transaction and monitoring fees through its in-house capital markets team, which arranges financing and advisory services for portfolio companies. TPG's growth strategy focuses on scaling its credit platform (anchored by Twin Brook's lower middle market direct lending franchise, acquired via Angelo Gordon in 2023), expanding into the private wealth channel through products like T-POP and TCAP, and growing insurance capital partnerships, most recently through a deal with Jackson Financial targeting $12B in committed capital over five years.