v3.25.4
Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 826,105 $ 808,017
Restricted cash [1] 13,166 13,175
Due from affiliates $ 573,590 $ 447,012
Other Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration] Related Party Related Party
Investments (includes assets pledged of $603,322 and $720,933 as of December 31, 2025 and December 31, 2024, respectively(1)) [1] $ 9,211,816 $ 7,503,281
Intangible assets, net 659,839 533,707
Goodwill 498,188 436,079
Right-of-use assets 552,254 208,501
Deferred tax assets 860,676 352,951
Other assets 297,301 232,386
Total assets 13,492,935 10,535,109
Liabilities    
Accounts payable and accrued expenses 230,523 211,914
Due to affiliates $ 694,632 $ 465,137
Accounts Payable, Related and Nonrelated Party Status [Extensible Enumeration] Related Party Related Party
Debt obligations [1] $ 1,722,547 $ 1,281,984
Accrued performance allocation compensation 5,399,750 4,376,523
Operating lease liabilities 604,593 223,131
Other liabilities 704,515 384,431
Total liabilities 9,356,560 6,943,120
Commitments and contingencies (Note 16)
Equity    
Preferred stock, $0.001 par value, 25,000,000 shares authorized (0 issued and outstanding as of December 31, 2025 and December 31, 2024) 0 0
Additional paid-in-capital 1,476,444 970,719
Accumulated deficit (291,604) (186,983)
Non-controlling interests 2,951,158 2,807,888
Total equity 4,136,375 3,591,989
Total liabilities and equity 13,492,935 10,535,109
Class A Common Stock    
Equity    
Common stock, value, issued 153 109
Common Class B    
Equity    
Common stock, value, issued $ 224 $ 256
[1] The Company’s consolidated total assets and liabilities as of December 31, 2025 and December 31, 2024 include assets and liabilities of variable interest entities (“VIEs”). These assets can be used only to satisfy obligations of the VIEs, and the creditors of the VIEs have recourse only to these assets, and not to TPG Inc. See Notes 2, 10 and 11 to the Consolidated Financial Statements.