TPG reports record fundraising and investment activity in 2025

TPG Inc. achieved historic levels of capital raised and invested in 2025, with more than $51 billion collected and roughly $52 billion deployed across its investment strategies. These totals represent the highest annual figures in the firm’s history and contributed to assets under management exceeding $300 billion as it enters 2026 with significant investable capital.

Heightened capital flows and investment activity

In 2025, TPG saw substantial gains in raising new commitments from institutional investors, with total capital raised well above prior years. The firm attracted capital across its private equity, credit, and other alternative strategies, reflecting broad demand for diversified investment exposure.

Private equity fundraising in particular contributed a meaningful portion of the total, signaling that investors remain willing to commit funds to long‑term buyouts and growth strategies despite uneven conditions in some market segments. At the same time, the firm’s credit and alternative strategies also drew significant investor interest, demonstrating that demand for yield‑oriented and non‑traditional investments remains strong. This multi‑strategy approach helped TPG capture a wide range of capital flows, contributing to its record fundraising performance and providing a base for varied investment activity.

Alongside fundraising, TPG invested a record amount of capital in 2025, putting approximately $52 billion to work across deals and portfolio expansions. This deployment encompassed a mixture of traditional private equity buyouts, growth investments, and credit deals, underscoring TPG’s capacity to operate at scale and find opportunities across different segments.

The high deployment pace also supported growth in fee‑related revenue and earnings, as increased activity generates management fees and performance allocations when deals progress. The combined effect of strong fundraising and deployments contributed to an elevated revenue base and expanded fee‑earning assets. By year‑end 2025, TPG’s total assets under management had climbed past $300 billion, positioning the firm among the largest global alternative asset managers.

Market context and outlook for investment activity

TPG’s performance unfolded in a broader environment where fundraising and deal activity have varied across the private markets. Some firms, particularly those with narrower focus or less diversified offerings, have struggled to attract capital consistently. In contrast, larger, established managers with multi‑strategy platforms have generally maintained stronger fundraising momentum.

Institutional allocators appear to be increasingly allocating to alternative strategies, particularly where they see diversified exposure and experienced investment execution, a dynamic reflected in TPG’s fundraising success. Investors continue to seek long‑term returns that may be less correlated with public markets, particularly in a period of macroeconomic uncertainty.

At the same time, opportunities in the private markets have been influenced by sector‑specific pockets of activity, including technology, industrials, and credit‑related investments, which helped support TPG’s deployment pace.

With ample capital available through both committed and unspent funds, TPG is positioned to pursue new investments and follow‑on commitments in 2026. Significant investable capital provides flexibility to act when opportunities arise, whether in traditional buyouts, growth equity, credit, or other alternative areas.

TPG’s fundraising and investment results for 2025 reflect a year of notable capital formation and deployment, supported by broad investor interest and diversified strategy execution. According to its press release, the firm raised and deployed record volumes of capital, growing assets under management to more than $300 billion. As private funds encounter variable conditions in the wider fundraising environment, TPG’s multifaceted platform and strong fundraising performance may help sustain its momentum as it enters 2026 with significant capital ready for investment.