TPG (TPG) 10-Q 15 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 10, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-04321
Entity Registrant Name	TPG Inc.
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	301 Commerce Street,
Entity Address, Address Line Two	Suite 3300
Entity Address, Postal Zip Code	76102
Entity Address, City or Town	Fort Worth,
Entity Address, State or Province	TX
Entity Tax Identification Number	87-2063362
City Area Code	817
Local Phone Number	871-4000
Title of 12(b) Security	Class A common stock
Trading Symbol	TPG
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001880661
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		72,252,574
Nonvoting Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		8,258,901
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		228,652,641

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents		$ 931,946
Restricted cash	[1]	13,277	$ 13,166
Due from affiliates		193,142	202,639
Investments (includes assets pledged)	[1]	5,530,841	5,329,868
Total assets		7,967,322	7,941,738
Liabilities
Accounts payable and accrued expenses		149,751	98,171
Due to affiliates		232,815	139,863
Debt obligations	[1]	444,733	444,566
Accrued performance allocation compensation		3,225,492	3,269,889
Total liabilities		4,309,531	4,202,232
Commitments and contingencies (Note 12)
Redeemable equity attributable to consolidated Public SPACs	[1]	656,347	653,635
Equity
Preferred stock, $0.001 par value, 25,000,000 shares authorized (0 issued and outstanding as of March 31, 2023 and December 31, 2022, respectively)		0	0
Additional paid-in-capital		522,888	506,639
Retained (deficit) earnings		(13,981)	2,724
Other non-controlling interests		2,492,228
Other non-controlling interests			2,576,199
Total equity		3,001,444	3,085,871
Total equity			3,085,871
Total liabilities, redeemable equity and equity		7,967,322	7,941,738
Consolidated Entity, Excluding VIE
Assets
Cash and cash equivalents		931,946	1,107,484
Other assets		637,007	629,392
Liabilities
Other liabilities		232,311	226,090
Variable Interest Entity, Not Primary Beneficiary
Assets
Cash and cash equivalents	[1]	4,375	5,097
Due from affiliates		88,687	88,847
Investments (includes assets pledged)		5,471,137	5,284,981
Other assets	[1]	387	457
Assets held in Trust Accounts	[1]	656,347	653,635
Liabilities
Due to affiliates		83,578	47,572
Other liabilities	[1]	262	236
Derivative liabilities	[1]	1,417	667
Deferred underwriting	[1]	22,750	22,750
Class A Common Stock
Equity
Common stock, value, issued		80	79
Class B Common Stock
Equity
Common stock, value, issued		$ 229	$ 230
[1]The Company’s consolidated total assets and liabilities as of March 31, 2023 and December 31, 2022 include assets and liabilities of variable interest entities (“VIEs”). The 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. These amounts include the assets and liabilities of consolidated Public SPACs, restricted cash, assets pledged of securitization vehicles, secured borrowings of securitization vehicles, and redeemable equity of consolidated Public SPACs. See Notes 2, 7 and 8 to the Condensed Consolidated Financial Statements

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Preferred stock, par or stated value per share (in usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Common Stock
Common stock, par or stated value per share (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized	2,340,000,000	2,340,000,000
Common stock, shares issued	80,492,727	79,240,058
Common shares outstanding	80,492,727	79,240,058
Class B Common Stock
Common stock, par or stated value per share (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	228,652,641	229,652,641
Common shares outstanding	228,652,641	229,652,641
Asset Pledged as Collateral
Proceeds receivable on sale of investments	$ 488,655	$ 475,110

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues
Fees and other	$ 311,471	$ 273,005
Capital allocation-based income	331,674	837,705
Total revenues	643,145	1,110,710
Compensation and benefits:
Cash-based compensation and benefits	120,451	116,359
Equity-based compensation	157,293	185,911
Performance allocation compensation	221,341	523,138
Total compensation and benefits	499,085	825,408
General, administrative and other	104,873	102,264
Depreciation and amortization	8,222	8,699
Total expenses	620,117	942,532
Income (loss) from investments:
Net gains (losses) from investment activities	14,816	6,643
Interest, dividends and other	100	100
Total investment income (loss)	24,749	9,630
Income (loss) before income taxes	47,777	177,808
Income tax expense	12,103	15,004
Net income (loss)	35,674	162,804
Net (loss) income attributable to redeemable equity in Public SPACs prior to Reorganization and IPO	1,529	1,823
Net income attributable to non-controlling interests in consolidated TPG funds prior to Reorganization and IPO	(25,492)	(4,912)
Net income attributable to TPG Group Holdings prior to Reorganization and IPO	34,582	118,904
Net income attributable to TPG Inc. subsequent to Reorganization and IPO	$ 25,055	$ 41,284
Net income (loss) per share data:
Basic (in usd per share)	$ 0.27	$ 0.52
Diluted (in usd per share)	$ (0.01)	$ 0.11
Weighted-average shares of Class A common stock outstanding
Basic (in shares)	79,499,319	79,240,057
Diluted (in shares)	309,140,849	308,892,698
Consolidated Entity, Excluding VIE
Compensation and benefits:
Interest expense	$ 7,418	$ 4,638
Income (loss) from investments:
Net gains (losses) from investment activities	14,816	6,643
Interest, dividends and other	7,971	204
Variable Interest Entity, Primary Beneficiary
Compensation and benefits:
Other	519	1,523
Income (loss) from investments:
Interest, dividends and other	2,712	126
Unrealized gains (losses) on derivative liabilities of Public SPACs	$ (750)	$ 2,657

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity (unaudited) - USD ($) $ in Thousands	Total	Partners' Capital	Class A Common Stock	Class B Common Stock	Total TPG Inc. Equity	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid-In Capital	Retained Earnings (Deficit)	Other Non-Controlling Interests
Beginning balance at Dec. 31, 2021		$ 1,606,593
Ending balance at Mar. 31, 2022		$ 0
Beginning balance (in shares) at Dec. 31, 2021						0	0
Beginning balance at Dec. 31, 2021	$ 6,261,414				$ 0	$ 0	$ 0	$ 0	$ 0	$ 4,654,821
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	162,804
Ending balance (in shares) at Mar. 31, 2022						79,070,565	229,652,641
Ending balance at Mar. 31, 2022	3,425,285				521,420	$ 79	$ 230	479,854	41,257	2,903,865
Beginning balance at Dec. 31, 2022	3,085,871
Increase (Decrease) in Partners' Capital [Roll Forward]
Noncontrolling interest, change in redemption value	(1,183)				(91)			(91)		(1,092)
Beginning balance (in shares) at Dec. 31, 2022			79,240,058	229,652,641		79,240,058	229,652,641
Beginning balance at Dec. 31, 2022	3,085,871				509,672	$ 79	$ 230	506,639	2,724	2,576,199
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	35,674
Equity reallocation between controlling and non-controlling interests prior to Reorganization and IPO	0				(7,481)			(7,481)		7,481
Shares issued for net settlement of equity-based awards						252,669
Shares issued for net settlement of equity-based awards	0					$ 0		0
Deferred tax effect resulting from purchase of Class A Units, net of amounts payable under Tax Receivable Agreement	(6,032)				(1,546)			(1,546)		(4,486)
Net income (loss) subsequent to Reorganization and IPO	34,145				25,055				25,055	9,090
Equity-based compensation subsequent to Reorganization and IPO	155,706				9,320			9,320		146,386
Capital contributions	2,791									2,791
Dividends/Distributions	(270,939)				(41,760)				(41,760)	(229,179)
Exchange of Common Units to TPG Inc. Class A Common stock (in shares)						1,000,000	(1,000,000)
Exchange of Common Units to TPG Inc. Class A Common stock	1,085				1,085	$ 1	$ (1)	1,085
Ending balance (in shares) at Mar. 31, 2023			80,492,727	228,652,641		80,492,727	228,652,641
Ending balance at Mar. 31, 2023	$ 3,001,444				$ 509,216	$ 80	$ 229	$ 522,888	$ (13,981)	$ 2,492,228

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (unaudited) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)		Mar. 31, 2022 USD ($)
Operating activities:
Net income	$ 35,674		$ 162,804
Adjustments to reconcile net income to net cash provided by operating activities:
Equity-based compensation	157,293		185,911
Performance allocation compensation	221,341		523,138
Net gains from investment activities	(14,816)		(6,643)
Capital allocation-based income	(331,674)		(837,705)
Other non-cash activities	17,829		16,565
Unrealized losses (gains) on derivative liabilities of Public SPACs	750		(2,657)
Changes in operating assets and liabilities:
Due from affiliates	3,253		(53,802)
Accounts payable and accrued expenses	51,580		74,402
Due to affiliates	29,104		37,420
Accrued performance allocation compensation	(265,738)		(2,599)
Net cash provided by operating activities	35,800		713,602
Investing activities:
Repayments of notes receivable from affiliates	0		14,616
Advances on notes receivable from affiliates	0		(14,000)
Purchases of fixed assets	(896)		(1,252)
Net cash used in investing activities	(896)		(636)
Financing activities:
Proceeds from issuance of common stock in IPO, net of underwriting and issuance costs	0		770,865
Proceeds from issuance of common stock from underwriters' exercise of over-allotment option, net of underwriting and issuance costs	0		49,756
Distributions to holders of non-controlling interests	0		(379,597)
Reorganization activities	0		2,124
Proceeds from Subordinated Credit Facility	0		30,000
Repayments of Subordinated Credit Facility	0		(30,000)
Withholding taxes paid on net settlement of equity-based awards	(6,032)		0
Dividends/Distributions	(207,090)		0
Distributions to partners prior to Reorganization and IPO	0		(355,282)
Net cash used in financing activities	(210,331)		(231,076)
Net change in cash, cash equivalents and restricted cash	(175,427)		481,890
Cash, cash equivalents and restricted cash, beginning of period	1,120,650		985,864
Cash, cash equivalents and restricted cash, end of period	945,223		1,467,754
Supplemental disclosures of other cash flow information
Cash paid for income taxes	1,895		1,039
Cash paid for interest	3,897		32
Supplemental disclosures of non-cash investing and financing activities:
Distributions payable to holders of other non-controlling interests	66,710		82,345
Reconciliation of cash, cash equivalents and restricted cash, end of period:
Cash and cash equivalents	931,946		1,454,619
Restricted cash	13,277	[1]	13,135
Cash, cash equivalents and restricted cash, end of period	945,223		1,467,754
Consolidated Entity, Excluding VIE
Adjustments to reconcile net income to net cash provided by operating activities:
Net gains from investment activities	(14,816)		(6,643)
Changes in operating assets and liabilities:
Purchases of investments	(21,113)		(25,297)
Proceeds from investments	172,602		662,481
Other assets	(14,855)		(25,514)
Other liabilities	(3,535)		(3,457)
Financing activities:
Distributions to holders of non-controlling interests	0		(318,942)
Contributions from holders of other non-controlling interests	2,791		0
Reconciliation of cash, cash equivalents and restricted cash, end of period:
Cash and cash equivalents	931,946
Variable Interest Entity, Not Primary Beneficiary
Changes in operating assets and liabilities:
Other assets	70		17,830
Other liabilities	25		(5,123)
Cash and cash equivalents	722		(4,123)
Assets held in Trust Accounts	(2,712)		(29)
Supplemental disclosures of non-cash investing and financing activities:
Deferred underwriting related to Public SPACs	0		$ 11,652
Reconciliation of cash, cash equivalents and restricted cash, end of period:
Cash and cash equivalents	$ 4,375	[1]
[1]The Company’s consolidated total assets and liabilities as of March 31, 2023 and December 31, 2022 include assets and liabilities of variable interest entities (“VIEs”). The 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. These amounts include the assets and liabilities of consolidated Public SPACs, restricted cash, assets pledged of securitization vehicles, secured borrowings of securitization vehicles, and redeemable equity of consolidated Public SPACs. See Notes 2, 7 and 8 to the Condensed Consolidated Financial Statements

Organization

Organization	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	TPG Inc., along with its consolidated subsidiaries (collectively “TPG,” or the “Company”) is a leading global alternative asset manager on behalf of third-party investors under the “TPG” brand name. TPG Inc. includes the consolidated accounts of management companies, general partners of pooled investment entities and Special Purpose Acquisition Companies (“Public SPACs” and/or “SPACs”), which are held in one of three holding companies (TPG Operating Group I, L.P., TPG Operating Group II, L.P. and TPG Operating Group III, L.P.) (collectively the “TPG Operating Group”). Reorganization and IPO The owners of TPG Group Holdings and the TPG Operating Group completed a series of actions on January 12, 2022 as part of a corporate reorganization (the “Reorganization”), in conjunction with an initial public offering (“IPO”) that was completed on January 18, 2022. TPG Partners, LLC was created on August 4, 2021 to effectuate the IPO and acquire Common Units of the TPG Operating Group on behalf of public investors. TPG Partners, LLC was designed as a holding company, and its only business was to act as the owner of the entities serving as the general partner of the TPG Operating Group partnerships. The TPG Operating Group (and the entities through which its direct and indirect partners held their interests) was restructured and recapitalized. On December 31, 2021, the TPG Operating Group transferred certain assets to RemainCo and distributed the interests in RemainCo to the owners of the TPG Operating Group. On January 12, 2022, the following steps were completed: • TPG Group Holdings, the TPG Operating Group, and TPG Partners, LLC completed the remaining steps of the planned Reorganization. The TPG Operating Group created Common Units and issued them to the Company and the other non-controlling interest holders of the TPG Operating Group. Immediately following the Reorganization, the TPG Operating Group and its subsidiaries were controlled by the same parties and as such, the Reorganization is a transfer of interests under common control. Accordingly, the Company will carry forward the existing value of the members’ interests in the assets and liabilities in these Condensed Consolidated Financial Statements prior to the IPO into the financial statements following the IPO. • TPG Partners, LLC changed its name to TPG Inc. and converted to a corporation. • TPG Inc. offered 33,900,000 shares of Class A common stock at a price of $29.50 per share, including 5,589,806 shares sold by a non-controlling interest holder of the TPG Operating Group, in the IPO. Additionally, certain Pre-IPO Investors exchanged their interests in the TPG Operating Group for interests in TPG Inc. totaling 35,136,254 Class A voting and 8,258,901 Class A non-voting common stock. The IPO closed on January 18, 2022, and TPG Inc. received proceeds totaling $770.9 million, net of $41.8 million in underwriting discounts and commissions, as well as $22.5 million of issuance costs. Proceeds of $379.6 million were used to repurchase Common Units of the TPG Operating Group from certain existing non-controlling interest holders, acquire newly issued Common Units of the TPG Operating Group and the remaining net proceeds are available for general corporate purposes. As a result of the Reorganization and IPO, TPG Inc. only holds Common Units of the TPG Operating Group. On February 9, 2022, the Company and the selling stockholder sold an additional 1,775,410 and 1,614,590 Class A common stock, respectively, at the initial public offering price pursuant to the underwriters’ exercise of their option to purchase additional shares. TPG Inc. received additional net proceeds totaling approximately $49.8 million. The underwriters’ exercise of their option in addition to the IPO related transactions resulted in a total of 70,811,664 and 8,258,901 of Class A voting and Class A non-voting common stock outstanding, respectively.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Basis of Presentation The accompanying condensed consolidated financial statements (the “Condensed Consolidated Financial Statements”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the Company’s Condensed Consolidated Financial Statements. All dollar amounts are stated in thousands unless otherwise indicated. These interim Condensed Consolidated Financial Statements should be read in conjunction with the Company’s Form 10-K for the year ended December 31, 2022. All intercompany transactions and balances have been eliminated. These interim Condensed Consolidated Financial Statements are unaudited and have been prepared on a basis consistent with that used to prepare the audited Consolidated Financial Statements. The operating results presented for interim periods are not necessarily indicative of the results expected for the full year ending December 31, 2023. The Condensed Consolidated Financial Statements include the accounts of TPG Inc., TPG Operating Group and their consolidated subsidiaries, TPG’s management companies, the general partners of TPG funds and entities that meet the definition of a variable interest entity (“VIE”) for which the Company is considered the primary beneficiary. All of the management fees and other amounts earned from the consolidated Public SPACs are eliminated in consolidation. In addition, the equivalent expense amounts recorded by the consolidated Public SPACs are also eliminated, with such reduction of expenses allocated to controlling interest holders. Accordingly, the consolidation of these entities has no net effect on net income attributable to TPG Inc. or net income attributable to other non-controlling interests. The TPG funds make investments into portfolio companies which are considered affiliates due to the nature of the Company’s ownership interests. Use of Estimates The preparation of the Condensed Consolidated Financial Statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements, and the reported amounts of revenues, expenses, and investment income during the reporting periods. Actual results could differ from those estimates and such differences could be material to the Condensed Consolidated Financial Statements. Principles of Consolidation The types of entities TPG assesses for consolidation include subsidiaries, management companies, broker-dealers, general partners of investment funds, investment funds, SPACs and other entities. Each of these entities is assessed for consolidation on a case by case basis depending on the specific facts and circumstances surrounding that entity. TPG first considers whether an entity is considered a VIE and therefore whether to apply the consolidation guidance under the VIE model. Entities that do not qualify as VIEs are assessed for consolidation as voting interest entities (“VOE”) under the voting interest model. An entity is considered to be a VIE if any of the following conditions exist: (i) the equity investment at risk is not sufficient to finance the activities of the entity without additional subordinated financial support, (ii) as a group, the holders of the equity investment at risk lack the power to direct the activities that most significantly impact the entity’s economic performance or the obligation to absorb the expected losses or right to receive the expected residual returns, and (iii) the voting rights of some holders of the equity investment at risk are disproportionate to their obligation to absorb losses or right to receive returns, and substantially all of the activities are conducted on behalf of the holder of equity investment at risk with disproportionately few voting rights. For limited partnerships, partners lack power if neither (i) a simple majority or lower threshold (including a single limited partner) with equity at risk is able to exercise substantive kick-out rights through voting interests over the general partner, nor (ii) limited partners with equity at risk are able to exercise substantive participating rights over the general partners. TPG consolidates all VIEs in which it is the primary beneficiary. An entity is determined to be the primary beneficiary if it holds a controlling financial interest in a VIE. A controlling financial interest is defined as (i) the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. The consolidation guidance requires an analysis to determine (i) whether an entity in which TPG holds a variable interest is a VIE and (ii) whether TPG’s involvement, through holding interest directly or indirectly in the entity or contractually through other variable interests, would give it a controlling financial interest. Performance of that analysis requires judgment. The analysis can generally be performed qualitatively; however, if it is not readily apparent that TPG is not the primary beneficiary, a quantitative analysis may also be performed. TPG factors in all economic interests including interests held through related parties, to determine if it holds a variable interest. Fees earned by TPG that are customary and commensurate with the level of effort required for the services provided, and where TPG does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, would not be considered variable interests. TPG determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and continuously reconsiders that conclusion when facts and circumstances change. Entities that are determined not to be VIEs are generally considered to be VOEs and are evaluated under the voting interest model. TPG consolidates VOEs that it controls through a majority voting interest or through other means. Investments Investments consist of investments in private equity funds, real estate funds, hedge funds and credit funds, including our share of any performance allocations and equity method and other proprietary investments. Investments denominated in currencies other than the U.S. dollar are valued based on the spot rate of the respective currency at the end of the reporting period with changes related to exchange rate movements reflected in the Condensed Consolidated Financial Statements. Equity Method – Performance Allocations and Capital Interests Investments in which the Company is deemed to have significant influence, but not control, are accounted for using the equity method of accounting except in cases where the fair value option has been elected. The Company as general partner has significant influence over the TPG funds in which it invests but does not consolidate. The Company uses the equity method of accounting for these interests whereby it records both its proportionate and disproportionate allocation of the underlying profits or losses of these entities in revenues in the accompanying Condensed Consolidated Financial Statements. The carrying amounts of equity method investments are included in investments in the Condensed Consolidated Financial Statements. The Company evaluates its equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. The difference between the carrying value and its estimated fair value is recognized as an impairment when the loss is deemed other than temporary. The TPG funds are considered investment companies under Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies (“ASC 946”). The Company, along with the TPG funds, applies the specialized accounting promulgated in ASC 946 and, as such, neither the Company nor the TPG funds consolidate wholly-owned, majority-owned and/or controlled portfolio companies. The TPG funds record all investments in the portfolio companies at fair value. Investments in publicly traded securities are generally valued at quoted market prices based upon the last sales price on the measurement date. Discounts are applied, where appropriate, to reflect restrictions on the marketability of the investment. When observable prices are not available for investments, the general partners use the market and income approaches to determine fair value. The market approach consists of utilizing observable market data, such as current trading or acquisition multiples of comparable companies, and applying it to key financial metrics, such as earnings before interest, depreciation and taxes, of the portfolio company. The comparability of the identified set of comparable companies to the portfolio company, among other factors, is considered in the application of the market approach. The general partners, depending on the type of investment or stage of the portfolio company’s lifecycle, may also utilize a discounted cash flow analysis, an income approach, in combination with the market approach in determining fair value of investments. The income approach involves discounting projected cash flows of the portfolio company at a rate commensurate with the level of risk associated with those cash flows. In accordance with ASC Topic 820, Fair Value Measurement (“ASC 820”) market participant assumptions are used in the determination of the discount rate. In applying valuation techniques used in the determination of fair value, the general partners assume a reasonable period of time for liquidation of the investment and take into consideration the financial condition and operating results of the underlying portfolio company, the nature of the investment, restrictions on marketability, market conditions, foreign currency exposures and other factors. In determining the fair value of investments, the general partners exercise significant judgment and use the best information available as of the measurement date. Due to the inherent uncertainty of valuations, the fair values reflected in the accompanying Condensed Consolidated Financial Statements may differ materially from values that would have been used had a readily available market existed for such investments and may differ materially from the values that may ultimately be realized. Equity Method Investments – Other The Company holds non-controlling, limited partnership interests in certain other partnerships in which it has significant influence over their operations. The Company uses the equity method of accounting for these interests whereby it records its proportionate share of the underlying income or losses of these entities in net gains (losses) from investment activities in the accompanying Condensed Consolidated Financial Statements. The carrying amounts of equity method investments are included in investments in the Condensed Consolidated Financial Statements. The Company evaluates its equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. The difference between the carrying value and its estimated fair value is recognized as an impairment when the loss is deemed other than temporary and recorded in net gains (losses) from investment activities within the Condensed Consolidated Financial Statements. Equity Method – Fair Value Option The Company elects the fair value option for certain investments that would otherwise be accounted for using the equity method of accounting. Such election is irrevocable and is applied on an investment-by-investment basis at initial recognition. The fair value of such investments is based on quoted prices in an active market. Changes in the fair value of these equity method investments are recognized in net gains (losses) from investment activities in the Condensed Consolidated Financial Statements. Equity Investments The Company holds non-controlling ownership interests in which it does not have significant influence over their operations. The Company records such investments at fair value when there is a readily determinable fair value. For certain nonpublic partnerships without readily determinable fair values, the Company has elected to measure those investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Impairment is evaluated when significant changes occur that may impact the investee in an adverse manner. Impairment, if any, is recognized in net gains (losses) from investment activities in the Condensed Consolidated Financial Statements. Non-Controlling Interests Non-controlling interests consists of ownership interests held by third-party investors in certain entities that are consolidated, but not 100% owned. The aggregate of the income or loss and corresponding equity that is not owned by the Company is included in non-controlling interests in the Condensed Consolidated Financial Statements. Allocation of income to non-controlling interest holders is based on the respective entities’ governing documents. Revenues Revenues consisted of the following (in thousands): Three Months Ended March 31, 2023 2022 Management fees $ 250,559 $ 204,808 Fee Credits (559) (8,328) Monitoring fees 2,756 4,001 Transaction fees 2,473 29,209 Expense reimbursements and other 56,242 43,315 Total fees and other 311,471 273,005 Performance allocations 315,707 799,958 Capital interests 15,967 37,747 Total capital allocation-based income 331,674 837,705 Total revenues $ 643,145 $ 1,110,710 Fees and Other Fees and other are accounted for as contracts with customers under ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). The guidance for contracts with customers provides a five-step framework that requires the Company to (i) identify the contract with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when the Company satisfies its performance obligations. In determining the transaction price, the Company includes variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. Revenue Streams Customer Performance Obligations satisfied over time or point in time (a) Variable or Fixed Consideration Revenue Recognition Classification of Uncollected Amounts (b) Management Fees TPG funds, limited partners and other vehicles Asset management services are satisfied over time (daily) because the customer receives and consumes the benefits of the advisory services daily Consideration is variable since over time the management fee varies based on fluctuations in the basis of the calculation of the fee Management fees are recognized each reporting period based on the value provided to the customer for that reporting period Due from affiliates – unconsolidated VIEs Monitoring Fees Portfolio companies In connection with the investment advisory services provided, the Company earns monitoring fees for providing oversight and advisory services to certain portfolio companies over time Consideration is variable when based on fluctuations in the basis of the calculation of the fee Consideration is fixed when based on a fixed agreed-upon amount Monitoring fees are recognized each reporting period based on the value provided to the customer for that reporting period Due from affiliates – portfolio companies Transaction Fees Portfolio companies, third-parties and other vehicles The company provides advisory services, debt and equity arrangements, and underwriting and placement services for a fee at a point in time Consideration is fixed and is based on a point in time Transaction fees are recognized on or shortly after the transaction is completed Due from affiliates – portfolio companies Other assets - other Incentive Fees TPG funds and other vehicles Investment management services performed over a period of time that result in achievement of minimum investment return levels Consideration is variable since incentive fees are contingent upon the TPG Fund or vehicles achieving more than the stipulated investment threshold return Incentive fees are recognized at the end of the performance measurement period if the investment performance is achieved Due from affiliates – unconsolidated VIEs Expense Reimbursements and other TPG funds, portfolio companies and third-parties Expense reimbursements incurred at a point in time relate to providing investment, management and monitoring services. Other revenue is performed over time. Expense reimbursements and other are fixed consideration Expense reimbursements and other are recognized as the expenses are incurred or services are rendered Due from affiliates – portfolio companies and unconsolidated VIEs Other assets – other _________________ (a) There were no significant judgments made in evaluating when a customer obtains control of the promised service for performance obligations satisfied at a point in time. (b) See Note 1 Management Fees The Company provides investment management services to the TPG funds, limited partners and other vehicles in exchange for a management fee. Management fees are determined quarterly based on an annual rate and are generally based upon a percentage of the capital committed or capital invested during the investment period. Thereafter, management fees are generally based on a percentage of actively invested capital or as otherwise defined in the respective management agreements. Since some of the factors that cause management fees to fluctuate are outside of the Company’s control, management fees are considered constrained and are not included in the transaction price until the uncertainty relating to the constraint is subsequently resolved. After the contract is established, management does not make any significant judgments in determining the transaction price. Management fees earned generally range from 0.50% to 2.00% of committed capital during the commitment period and from 0.25% to 2.00% of actively invested capital after the commitment period or at an annual rate of fund gross assets, as defined in the respective partnership agreements of the TPG funds. Management fees charged to consolidated Public SPACs are eliminated in consolidation. Monitoring Fees The Company provides monitoring services to certain portfolio companies in exchange for a fee, which is recognized over time as services are rendered. After the monitoring contract is established, there are no significant judgments made in determining the transaction price. Transaction Fees The Company provides capital structuring and other advice to portfolio companies, third parties and other vehicles generally in connection with debt and equity arrangements, as well as underwriting and placement services for a fee at a point in time when the underlying advisory services rendered are complete. Transaction fees are separately negotiated for each transaction and are generally based on the underlying transaction value. After the contract is established, management makes no significant judgements when determining the transaction price. Fee Credits Under the terms of the management agreements with certain TPG funds, the Company is required to reduce management fees payable by funds by an agreed upon percentage of certain fees, including monitoring and transaction fees earned from portfolio companies (“Fee Credits”). Investment funds receive the benefit of Fee Credits only with respect to monitoring and transaction fees that are allocable to the fund’s investment in the portfolio company and not, for example, any fees allocable to capital invested through co-investment vehicles. Fee Credits are calculated after deducting certain costs incurred in connection with reimbursements of specialized operational services associated with providing specialized operations and consulting services to the funds and portfolio companies. Fee Credits are recognized by investment funds concurrently with the recognition of monitoring fees and transaction fees. Since Fee Credits are payable to investment funds, amounts of Fee Credits are generally applied as a reduction of the management fee that is otherwise billed to the investment fund. Fee Credits are recorded as a reduction of revenues in the Condensed Consolidated Statement of Operations. Fee Credits payable to investment funds are recorded in due to affiliates in the Condensed Consolidated Financial Statements. See Note 1 0 Incentive Fees The Company provides investment management services to certain TPG funds and other vehicles in exchange for a management fee as discussed above and, in some cases, an incentive fee when the Company is not entitled to performance allocations, as further discussed below. Incentive fees are considered variable consideration as these fees are subject to reversal, and therefore the recognition of such fees is deferred until the end of the measurement period when the performance-based incentive fees become fixed and determinable. After the contract is established, there are no significant judgments made when determining the transaction price. During the three months ended March 31, 2023 and 2022, the Company did not earn any incentive fees. Expense Reimbursements and Other In providing investment management and advisory services to TPG funds and monitoring services to the portfolio companies, TPG routinely contracts for services from third parties. In situations where the Company is viewed, for accounting purposes only, as having incurred these third-party costs on behalf of the TPG funds or portfolio companies, the cost of such services is presented net as a reduction of the Company’s revenues. In all other situations, the expenses and related reimbursements associated with these services are presented on a gross basis, which are classified as part of the Company’s expenses, and reimbursements of such costs are classified as expense reimbursements within revenues in the Condensed Consolidated Financial Statements. After the contract is established, there are no significant judgments made when determining the transaction price. Capital Allocation-Based Income (Loss) Capital allocation-based income (loss) is earned from the TPG funds when the Company has a general partner’s capital interest and is entitled to a disproportionate allocation of investment income (referred to hereafter as “performance allocations”). The Company records capital allocation-based income (loss) under the equity method of accounting assuming the fund was liquidated as of each reporting date pursuant to each TPG fund’s governing agreements. Accordingly, these general partner interests are accounted for outside of the scope of ASC 606. Other arrangements surrounding contractual incentive fees through an advisory contract are separate and distinct and accounted for in accordance with ASC 606. In these incentive fee arrangements, the Company’s economics in the entity do not involve an allocation of capital. See discussion above regarding “Incentive Fees”. Performance allocations are allocated to the general partners based on cumulative fund performance as of each reporting date, and after specified investment returns to the funds’ limited partners are achieved. At the end of each reporting period, the TPG funds calculate and allocate the performance allocations that would then be due to the general partner for each TPG fund, pursuant to the TPG fund governing agreements, as if the fair value of the underlying investments were realized as of such date, irrespective of whether such amounts have been realized. As the fair value of underlying investments (and the investment returns to the funds’ limited partners) varies between reporting periods, it is necessary to make adjustments to amounts recorded as performance allocations to reflect either (i) positive performance resulting in an increase in the performance allocations allocated to the general partner or (ii) negative performance that would cause the amount due to the general partner to be less than the amount previously recognized, resulting in a negative adjustment to performance allocations allocated to the general partner. In each case, performance allocations are calculated on a cumulative basis and cumulative results are compared to amounts previously recorded with a current period adjustment, positive or negative, recorded. The Company ceases to record negative performance allocations once previously recognized performance allocations for a TPG fund have been fully reversed, including realized performance allocations. The general partner is not obligated to make payments for guaranteed returns or hurdles of a fund and, therefore, cannot have negative performance allocations over the life of a fund. Accrued but unpaid performance allocations as of the reporting date are reflected in investments in the Company’s Condensed Consolidated Financial Statements. Performance allocations received by the general partners of the respective TPG funds are subject to clawback to the extent the performance allocations received by the general partner exceed the amount the general partner is ultimately entitled to receive based on cumulative fund results. Generally, the actual clawback liability does not become due until eighteen months after the realized loss is incurred; however, individual fund terms vary. For disclosures at March 31, 2023 related to clawback, see Note 12 The Company earns management fees, incentive fees and capital allocation-based income (loss) from investment funds and other vehicles whose primary focus is making investments in specified geographical locations and earns transaction and monitoring fees from portfolio companies located in varying geographies. Investment Income Income from equity method investments The carrying value of equity method investments in proprietary investments where the Company exerts significant influence is generally determined based on the amounts invested, adjusted for the equity in earnings or losses of the investee allocated based on the Company’s ownership percentage, less distributions and any impairment. The Company records its proportionate share of investee’s equity in earnings or losses based on the most recently available financial information, which in certain cases may lag the date of TPG’s financial statements by up to three calendar months. Income from equity method investments is recorded in net gains (losses) from investment activities on the Condensed Consolidated Financial Statements. Income from equity method investments for which the fair value option was elected Income from equity method investments for which the fair value option was elected includes realized gains and losses from the sale of investments, and unrealized gains and losses from changes in the fair value during the period as a result of quoted prices in an active market. Discounts are applied, where appropriate, to reflect restrictions on the marketability of the investment. Income from equity method investments for which the fair value option was elected is recorded in net gains (losses) from investment activities on the Condensed Consolidated Financial Statements. Income from equity investments Income from equity investments, which represent investments held through equity securities of an investee that the Company does not hold significant influence over, includes realized gains from the sale of investments and unrealized gains and losses result from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Income from equity investments is recorded in net gains (losses) from investment activities on the Condensed Consolidated Financial Statements. Unrealized gains (losses) from derivative liabilities of Public SPACs Unrealized gains (losses) from derivative liabilities of Public SPACs includes unrealized gains and losses from changes in fair value of warrants and forward purchase agreements (“FPAs”). Interest, dividends and other Interest income is recognized as earned. Dividend income is recognized by the Company on the ex-dividend date, or in the absence of a formal declaration, on the date it is received. Compensation and Benefits Cash-based compensation and benefits includes (i) salaries and wages, (ii) benefits and (iii) discretionary cash bonuses. Bonuses are accrued over the service period to which they relate. Compensation expense related to the issuance of equity-based awards is measured at grant-date fair value. Compensation expense for awards that vest over a future service period is recognized over the relevant service period on a straight-line basis. Compensation expense for awards that do not require future service is recognized immediately. Compensation expense for awards that contain market and service conditions is based on grant-date fair value that factors in the probability that the market conditions will be achieved and is recognized on a tranche by tranche basis using the accelerated attribution method. The requisite service period for those awards is the longer of the explicit service period and the derived service period. The Company recognizes equity-based award forfeitures in the period they occur as a reversal of previously recognized compensation expense. Prior to the IPO, all performance allocation payments in the form of legal form equity made to the Company’s partners were paid pro rata based on ownership percentages in the underlying investment partnership and accounted for as distributions on the equity held by such partners during such period. For the period in 2022 prior to the IPO, there were no performance allocations earned, allocated or distributed with respect to partnership interests. Performance allocation compensation expense and accrued performance allocation compensation is the portion of performance allocations that TPG allocates to certain of its employees and certain other advisors of the Company. Performance allocations due to our partners and professionals are accounted for as compensation expense in conjunction with the recognition of the related performance allocations and, until paid, are recognized as accrued performance allocation compensation. Accordingly, upon a reversal of performance allocations, the related compensation expense, if any, is also reversed. Net Income (Loss) Per Share of Class A Common Stock Basic income (loss) per share of Class A common stock is calculated by dividing net income (loss) attributable to TPG Inc. by the weighted-average shares of Class A common stock, unvested participating shares of Class A common stock outstanding for the period and vested deferred restricted shares of Class A common stock that have been earned for which issuance of the related shares of Class A common stock is deferred until future periods. Diluted income (loss) per share of Class A Common Stock reflects the impact of all dilutive securities. Unvested participating shares of common stock are excluded from the computation in periods of loss as they are not contractually obligated to share in losses. The Company applies the treasury stock method to determine the dilutive weighted-average common shares represented by the unvested restricted stock units. The Company applies the if-converted method to the TPG Operating Group partnership units to determine the dilutive impact, if any, of the exchange right included in the TPG Operating Group partnership units. Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents include cash on deposit with banks and other short-term investments with an initial maturity of 90 days or less. Restricted cash balances relate to cash balances reserved for the payment of interest on the Company’s secured borrowings. Cash and Cash Equivalents Held by Consolidated Public SPACs Cash and cash equivalents held by consolidated Public SPACs represent cash and cash e

Acquisition

Acquisition	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisition	In January 2022, the Company completed its acquisition of the remaining 33.3% interest in NewQuest Holdings (Cayman) Limited (“NQ Manager”) in exchange for equity interests in the Company, which consisted of 1,638,866 shares of Class A common stock and 1,072,998 Common Units of the TPG Operating Group. All of the granted equity interests are subject to a three-year service vesting condition and as such, will be recognized on a straight-line basis as post-combination compensation expense. The effect of the acquisition was a reallocation of equity between controlling and non-controlling interest of $33.6 million. This transaction was an acquisition under common control in which no gain or loss was recognized. For additional information on the Acquisition, see Note 3 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.

Investments

Investments	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	Investments consist of the following (in thousands): March 31, 2023 December 31, 2022 Equity method - performance allocations $ 4,839,966 $ 4,677,017 Equity method - capital interests (includes assets pledged of $488,655 and $475,110) 631,171 607,964 Equity method - fair value option 38,281 20,907 Equity method - other 11,638 11,908 Equity investments 9,785 12,072 Total investments $ 5,530,841 $ 5,329,868 Net gains (losses) from performance allocations and capital interests are disclosed in the Revenue section of Note 2 t o the Condensed Consolidated Statements of Operations. The following table summarizes net gains from investment activities (in thousands): Three Months Ended March 31, 2023 2022 Net gains (losses) from investment activities Net gains of equity method investments, fair value option $ 17,375 $ 7,888 Net (losses) gains of equity method investments - other (271) 228 Net losses from equity investments (2,288) (1,473) Total net gains from investment activities $ 14,816 $ 6,643 Equity Method Investments, Fair Value Option As of March 31, 2023 and December 31, 2022, the Company held a 8.9% and 9.0% beneficial ownership interest in Nerdy Inc. (“NRDY”), respectively, consisting of 7.7 million shares of Class A common stock, 4.0 million earnout shares and 4.9 million earnout warrants, with an aggregate fair value of $38.3 million and $20.9 million, respectively. The warrants entitle the Company to acquire one share of Class A common stock at a price of $11.50 per share and expire on September 20, 2026. The earnout shares and warrants are contingent upon NRDY achieving certain market share price milestones or in the event of a change of control, within five years after September 20, 2021.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	The consolidated Public SPACs enter into derivative contracts in connection with their proprietary trading activities, including warrants and FPAs, which meet the definition of a derivative in accordance with ASC Topic 815, Derivatives and Hedging (“ASC 815”). As a result of the use of derivative contracts, the consolidated Public SPACs are exposed to the risk that counterparties will fail to fulfill their contractual obligations and are exposed to the volatility of the underlying instruments. These warrants and FPAs are included in derivative liabilities of Public SPACs on the Condensed Consolidated Statements of Financial Condition. As of March 31, 2023 and December 31, 2022, the Company did not hold any FPAs. As of March 31, 2023 and December 31, 2022, the fair value of the warrants totaled $1.4 million and $0.7 million, respectively. There were no related offsets or cash collateral pledged or received for the warrants as of March 31, 2023 and December 31, 2022. For the three months ended March 31, 2023, the Company recorded unrealized losses on warrants totaling $0.8 million. For the three months ended March 31, 2022, the Company recorded unrealized gains on warrants and FPAs totaling $2.7 million. Net gains (losses) on derivative instruments are included in the Condensed Consolidated Statements of Operations as unrealized gains (losses) on derivative liabilities of Public SPACs. The following are net (losses) gains recognized on derivative instruments of Public SPACs (in thousands): Three Months Ended March 31, 2023 2022 Unrealized (losses) gains, net on public warrants $ (750) $ 3,682 Unrealized losses, net on forward purchase agreements — (1,025) Net (losses) gains on derivative instruments $ (750) $ 2,657

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurement	The following tables summarize the valuation of the Company’s Level I financial assets and liabilities that fall within the fair value hierarchy (in thousands): March 31, 2023 December 31, 2022 Assets Equity method investments - fair value option $ 38,281 $ 20,907 Equity investments 9,785 12,072 Total assets $ 48,066 $ 32,979 Liabilities Liabilities of consolidated Public SPACs: Public warrants $ 1,417 $ 667 Total liabilities $ 1,417 $ 667 As of March 31, 2023 and December 31, 2022, the Company did not hold any Level II or Level III financial instruments. The valuation methodology used in the determination of the changes in fair value of financial instruments for which Level III inputs were used at March 31, 2022 included a combination of the market approach and income approach. The following tables summarize the changes in the fair value of financial instruments for which the Company has used Level III inputs to determine fair value (in thousands): Three Months Ended March 31, 2023 2022 Derivative liabilities Balance, beginning of period $ — $ 1,386 Unrealized losses, net — 1,025 Balance, end of period $ — $ 2,411 Total realized and unrealized gains and losses recorded for Level III investments are reported in unrealized gains (losses) on derivative liabilities of Public SPACs in the Condensed Consolidated Statements of Operations.

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	TPG consolidates VIEs in which it is considered the primary beneficiary as described in Note 2 The assets of consolidated VIEs may only be used to settle obligations of these consolidated VIEs. In addition, there is no recourse to the Company for the consolidated VIEs’ liabilities. The Company holds variable interests in certain VIEs which are not consolidated as it is determined that the Company is not the primary beneficiary. The Company’s involvement with such entities is in the form of direct equity interests and fee arrangements. The fundamental risks have similar characteristics, including loss of invested capital and loss of management fees and performance allocations. Accordingly, disaggregation of TPG’s involvement by type of VIE would not provide more useful information. TPG may have an obligation as general partner to provide commitments to unconsolidated VIEs. For the three months ended March 31, 2023 and 2022, TPG did not provide any amounts to unconsolidated VIEs other than its obligated commitments. The maximum exposure to loss represents the loss of assets recognized by TPG relating to non-consolidated entities and any amounts due to non-consolidated entities. The assets and liabilities recognized in the Company’s Condensed Consolidated Statements of Financial Condition related to its interest in these non-consolidated VIEs and its maximum exposure to loss relating to non-consolidated VIEs were as follows (in thousands): March 31, 2023 December 31, 2022 Investments (includes assets pledged of $488,655 and $475,110) $ 5,471,137 $ 5,284,981 Due from affiliates 88,687 88,847 VIE-related assets 5,559,824 5,373,828 Potential clawback obligation 1,861,049 1,869,395 Due to affiliates 83,578 47,572 Maximum exposure to loss $ 7,504,451 $ 7,290,795 RemainCo In conjunction with the Reorganization described in Note 1 RemainCo Administrative Services Agreement The TPG Operating Group has entered into an administrative services agreement with RemainCo whereby the TPG Operating Group provides RemainCo with certain administrative services, including maintaining RemainCo’s books and records, tax and financial reporting and similar support which began on January 1, 2022. In exchange for these services, RemainCo pays the TPG Operating Group an annual administration fee in the amount of 1% per annum of the net asset value of RemainCo’s assets, with such amount payable quarterly in advance and recorded in expense reimbursements and other within revenues in the Condensed Consolidated Statements of Operations.. Securitization Vehicles Certain subsidiaries of the Company issued $250.0 million in privately placed securitization notes. The Company used one or more special purpose entities that are considered VIEs to issue notes to third-party investors in the securitization transactions. As of March 31, 2023 and December 31, 2022, the carrying amount of secured notes issued by the VIEs was $245.3 million, and is shown in the Company’s Condensed Consolidated Statements of Financial Condition as debt obligations, net of unamortized issuance costs of $4.7 million. The following table depicts the total assets and liabilities related to VIE securitization transactions included in the Company’s Condensed Consolidated Statements of Financial Condition (in thousands): March 31, 2023 December 31, 2022 Cash and cash equivalents $ 44,515 $ 33,612 Restricted cash 13,277 13,166 Participation rights receivable (a) 488,655 475,110 Due from affiliates 1,039 436 Total assets $ 547,486 $ 522,324 Accrued interest $ 3,450 $ 191 Due to affiliates and other 588 280 Secured borrowings, net 245,336 245,259 Total liabilities $ 249,374 $ 245,730 _______________ (a) Participation rights receivable related to VIE securitization transactions are included in investments in the Company’s Condensed Consolidated Statements of Financial Condition .

Debt Obligations

Debt Obligations	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt Obligations	The following table summarizes the Company’s and its subsidiaries’ debt obligations (in thousands): As of March 31, 2023 As of December 31, 2022 Debt Origination Date Maturity Date Borrowing Capacity Carrying Value Interest Rate Carrying Value Interest Rate Senior Unsecured Revolving Credit Facility (a) March 2011 July 2027 $ 700,000 $ — 5.90 % $ — 5.46 % Subordinated Credit Facility (b) August 2014 August 2024 30,000 — 7.15 % — 6.71 % Senior Unsecured Term Loan (c) December 2021 December 2024 200,000 199,397 5.90 % 199,307 5.46 % Secured Borrowings - Tranche A (d) May 2018 June 2038 200,000 196,248 5.33 % 196,186 5.33 % Secured Borrowings - Tranche B (d) October 2019 June 2038 50,000 49,088 4.75 % 49,073 4.75 % Total debt obligations $ 1,180,000 $ 444,733 $ 444,566 _______________ (a) In July 2022, TPG Operating Group II, L.P., as borrower, entered into a fifth amendment and restatement of its senior unsecured revolving credit facility (the “Amended Senior Unsecured Revolving Credit Facility”) to among other things, (i) extend the maturity date of the revolving credit facility from November 2025 to July 2027, (ii) increase the aggregate revolving commitments thereunder from $300.0 million to $700.0 million and (iii) replace the London Interbank Offered Rate (“LIBOR”) as the applicable reference rate with the Secured Overnight Financing Rate (“SOFR”) and otherwise conform the credit facility to accommodate SOFR as the reference rate. Dollar-denominated principal amounts outstanding under the Amended Senior Unsecured Revolving Credit Facility accrue interest, at the option of the applicable borrower, either (i) at a base rate plus applicable margin not to exceed 0.25% per annum or (ii) at a term SOFR rate plus a 0.10% per annum adjustment and an applicable margin not to exceed 1.25%. The Company is also required to pay a quarterly commitment fee on the unused commitments under the Amended Senior Unsecured Revolving Credit Facility not to exceed 0.15% per annum, as well as certain customary fees for any issued letters of credit. In August 2022, the Company entered into a first amendment to the Amended Senior Unsecured Revolving Credit Facility, which provides that if the Company is not publicly rated, the applicable margin for borrowings under the facility may be determined using the Company’s leverage ratio. (b) A consolidated subsidiary of the Company entered into two $15.0 million subordinated revolving credit facilities (collectively, the “Subordinated Credit Facility”), for a total commitment of $30.0 million. The Subordinated Credit Facility is available for direct borrowings and is guaranteed by certain members of the TPG Operating Group. In August 2022, the subsidiary extended the maturity date of the Subordinated Credit Facility from August 2023 to August 2024 and replaced LIBOR as the applicable reference rate with SOFR, and otherwise conforms the agreements to accommodate SOFR as the reference rate. (c) In December 2021, the Company entered into a credit agreement (the “Senior Unsecured Term Loan Agreement”). In July 2022, the Company entered into an amended and restated term loan agreement (the “Amended Senior Unsecured Term Loan Agreement”). The Amended Senior Unsecured Term Loan Agreement, among other things, replaces LIBOR as the applicable reference rate with SOFR, and otherwise conforms the term loan agreement to accommodate SOFR as the reference rate. Principal amounts outstanding under the Amended Senior Unsecured Term Loan Agreement accrue interest, at the option of the borrower, either (i) at a base rate plus an applicable margin of 0.00% or (ii) at a term SOFR rate plus a 0.10% per annum adjustment and an applicable margin of 1.00%. (d) The Company’s secured borrowings are issued using on-balance sheet securitization vehicles, as further discussed in Note 7 During the three months ended March 31, 2023 and 2022, the Company incurred interest expense of $6.2 million and $4.0 million, respectively, on its debt obligations. At March 31, 2023 and December 31, 2022, the fair value of the Company’s senior unsecured term loan was $199.3 million and $199.2 million, respectively, which approximates its carrying amount represented in the Condensed Consolidated Statements of Financial Condition due to its variable rate nature. At March 31, 2023 and December 31, 2022, the estimated fair value of the secured borrowings based on current market rates and credit spreads for debt with similar maturities was $237.4 million and $231.5 million, respectively, and the carrying value, excluding unamortized issuance costs, was $250.0 million at March 31, 2023 and December 31, 2022. On April 14, 2023, a consolidated subsidiary of the Company entered into a 364-day revolving credit facility (the “364-Day Credit Facility”), providing the subsidiary with revolving borrowings of up to $150.0 million. The Company entered into an equity commitment letter in connection with the 364-Day Credit Facility, committing to provide capital contributions to the consolidated subsidiary throughout the life of the facility.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	As a result of the Reorganization, the Company is treated as a corporation for U.S. federal and state income tax purposes. The Company is subject to U.S. federal and state income taxes, in addition to local and foreign income taxes, with respect to its allocable share of taxable income generated by the TPG Operating Group partnerships. Prior to the Reorganization, the Company was treated as a partnership for U.S. federal income tax purposes and therefore was not subject to U.S. federal and state income taxes except for certain consolidated subsidiaries that were subject to taxation in the U.S. (federal, state and local) and foreign jurisdictions as a result of their entity classification for tax reporting purposes.As of March 31, 2023, the Company has recognized net deferred tax assets before the considerations of valuation allowances in the amount of $118.1 million which primarily relate to excess income tax basis versus book basis differences in connection with the Company’s investment in the TPG Operating Group partnerships. The excess of income tax basis in the TPG Operating Group partnerships was primarily due to the Reorganization which resulted in a step-up in the tax basis of certain assets to the Company that will be recovered as those underlying assets are sold or the tax basis is amortized. A portion of the excess income tax basis in the TPG Operating Group partnerships will only reverse upon a sale of the Company’s interest in the TPG Operating Group partnerships which is not expected to occur in the foreseeable future. As a result, the Company has recognized a valuation allowance in the amount of $79.9 million against its net deferred tax assets of $118.1 million (resulting in net deferred tax assets after valuation allowance of $38.2 million) as of March 31, 2023, as it is more-likely-than not that this portion of our deferred tax assets is not realizable. The Company evaluates the realizability of its deferred tax asset on a quarterly basis and adjusts the valuation allowance when it is more-likely-than-not that all or a portion of the deferred tax asset may not be realized. Additionally, the Company recorded a payable pursuant to the Tax Receivable Agreement within other liabilities in the Condensed Consolidated Statements of Financial Condition of $26.4 million, related to the Reorganization and subsequent exchanges of TPG Operating Group partnership units for common stock. The Company’s effective tax rate was 25.3% and 8.4% for the three months ended March 31, 2023 and 2022, respectively. The Company’s effective tax rate is dependent on many factors, including the estimated amount of income subject to tax. Consequently, the effective tax rate can vary from period to period. The Company’s overall effective tax rate in each of the periods described above deviates from the statutory rate primarily because a portion of income and losses are allocated to non-controlling interests, and the tax liability on such income or loss is borne by the holders of such non-controlling interests. Applicable accounting standards provide that the Company may estimate an annual effective tax rate and apply that rate to year-to-date income for each interim period. However, because the Company’s forecast of income before taxes is highly variable due to changes in market conditions, the actual effective income tax rate for the year-to-date period represents a better estimate of the consolidated annual effective income tax rate. Accordingly, for the three months ended March 31, 2023 and 2022, the actual consolidated effective income tax rate was used to determine the Company’s income tax provision. During the three months ended March 31, 2023 and 2022, there were no material changes to the uncertain tax positions and the Company does not expect there to be any material changes to uncertain tax positions within the next twelve months. The Company files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by U.S. federal, state, local and foreign tax authorities. Although the outcome of tax audits is always uncertain, the Company does not believe the outcome of any future audit will have a material adverse effect on the Company’s Condensed Consolidated Financial Statements.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Due from and Due to Affiliates Due from affiliates and due to affiliates consist of the following (in thousands): March 31, 2023 December 31, 2022 Portfolio companies $ 58,189 $ 57,492 Partners and employees 2,535 2,270 Other related entities 43,731 54,030 Unconsolidated VIEs 88,687 88,847 Due from affiliates $ 193,142 $ 202,639 Portfolio companies $ 8,811 $ 10,367 Partners and employees 60,892 60,309 Other related entities 79,534 21,615 Unconsolidated VIEs 83,578 47,572 Due to affiliates $ 232,815 $ 139,863 Affiliate receivables and payables historically have been settled in the normal course of business without formal payment terms, generally do not require any form of collateral and do not bear interest. Fund Investments Certain of the Company’s investment professionals and other individuals have made discretionary investments of their own capital in the TPG funds. These investments are generally not subject to management fees or performance allocations at the discretion of the general partner. Investments made by these individuals during the three months ended March 31, 2023 and 2022 totaled $13.1 million and $30.8 million, respectively. Fee Income from Affiliates Substantially all revenues are generated from TPG funds, limited partners of TPG funds, or portfolio companies. The Company disclosed revenues in Note 2 Notes Receivable from Affiliates From time to time, the Company makes loans to its employees and other affiliates. Certain of these loans are collateralized by underlying investment interests of the borrowers. The outstanding balance of these notes was $1.6 million as of March 31, 2023 and December 31, 2022, which is included in other assets in the Condensed Consolidated Statements of Financial Condition. These notes generally incur interest at floating rates, and such interest, which is included in interest, dividends and other in the Condensed Consolidated Statements of Operations, totaled less than $0.1 million for each of the three months ended March 31, 2023 and 2022 . Aircraft Services The Company terminated its leases of aircraft owned by entities controlled by certain partners of the Company in January 2022. The termination of the leases resulted in the derecognition of a right-of-use asset and a corresponding lease liability of $13.6 million. RemainCo Administrative Services Agreement In exchange for services provided by TPG Operating Group, RemainCo pays TPG Operating Group an annual administration fee in the amount of 1% per annum of the net asset value of RemainCo’s assets, with such amount payable quarterly in advance. The fees earned by the Company for the three months ended March 31, 2023 and 2022 were $4.6 million and $5.1 million, respectively, and recorded in expense reimbursements and other within revenues in the Condensed Consolidated Statements of Operations. Other Related Party Transactions The Company has entered into contracts to provide services or facilities for a fee with certain related parties. A portion of these fees are recognized as expense reimbursements and other within revenues in the Condensed Consolidated Statements of Operations in the amount of $7.4 million and $5.5 million for the three months ended March 31, 2023 and 2022, respectively. During the three months ended March 31, 2023 and 2022, these related parties have made payments associated with these arrangements of $8.9 million and $7.4 million, respectively. Investments in SPACs The Company invests in and sponsors SPACs that are formed for the purposes of effecting a merger, asset acquisition, stock purchase, reorganization or other business combination. In the IPO of each of these SPACs, either common shares or units (which include one Class A ordinary share and, in some cases, a fraction of a redeemable public warrant which entitles the holder to purchase one share of Class A ordinary shares at a fixed exercise price) are sold to investors. Each SPAC provides its public shareholders the option to redeem their shares either (i) in connection with a shareholder meeting to approve the business combination or (ii) by means of a tender offer. Assets held in Trust Accounts relate to gross proceeds received from the IPO and can only be used for the initial business combination and any possible investor redemptions. If the SPAC is unable to complete a business combination within a specified time frame, typically within 24 months of the IPO close date, the SPACs will redeem all public shares. The ownership interest in each SPAC which is not owned by the Company is reflected as redeemable equity attributable to Public SPACs in the accompanying Condensed Consolidated Statements of Financial Condition. The Company consolidates these SPACs during the period before the initial business combination, and therefore the Class F ordinary shares, Class G ordinary shares, private placement shares, private placement warrants and FPAs with consolidated related parties are eliminated in consolidation. In August 2021, AFTR, a SPAC, completed an initial public offering. AFTR sold 25,000,000 units at a price of $10.00 per unit for total IPO proceeds of $250.0 million. Each unit consists of one Class A ordinary share of AFTR at $0.0001 par value and one-third of one warrant. In April 2021, YTPG, a SPAC, completed an initial public offering. YTPG sold 40,000,000 shares at a price of $10.00 per share for total IPO proceeds of $400.0 million. Each share consists of one Class A ordinary share of YTPG at $0.0001 par value. Prior to the IPO, YTPG entered into FPAs for an aggregate purchase price of $175.0 million, of which the Company is responsible for $24.9 million as of March 31, 2023. As of March 31, 2023, YTPG held cash in trust in non-interest-bearing U.S. based account of $400.0 million, which was available for distribution to the shareholders. On April 17, 2023, YTPG redeemed all of its Class A Shares at a per-share redemption price of approximately $10.00, because YTPG did not consummate an initial business combination within the time period required by its Amended and Restated Memorandum and Articles of Association. As of April 17, 2023, the Class A Shares were deemed cancelled and represented only the right to receive the Redemption Amount. FPAs entered into by YTPG at the time of its IPO were terminated on April 17, 2023. After April 17, 2023, YTPG ceased all operations except for those required to wind up its business.

Operating Leases

Operating Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Operating Leases	The following tables summarize the Company’s lease cost, cash flows, and other supplemental information related to its operating leases. The components of lease expense were as follows (in thousands): Three Months Ended March 31, 2023 2022 Lease cost (a) : Operating lease cost $ 6,631 $ 6,476 Short-term lease costs 133 205 Variable lease cost 1,791 1,171 Sublease income (816) (1,532) Total lease cost $ 7,739 $ 6,320 Weighted-average remaining lease term 6.7 7.2 Weighted-average discount rate 4.16 % 4.09 % ___________ (a) Office rent expense for the three months ended March 31, 2023 and 2022 was $6.6 million and $6.4 million, respectively. Supplemental Condensed Consolidated Statements of Cash Flows information related to leases were as follows (in thousands): Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities $ 7,523 $ 6,667 Non-cash right-of-use assets obtained in exchange for new operating lease liabilities 216 2,124 Non-cash right-of-use assets and lease liability termination — (13,554) The following table shows the undiscounted cash flows on an annual basis for operating lease liabilities as of March 31, 2023 (in thousands): Year Due Lease Amount Remainder of 2023 $ 13,464 2024 24,002 2025 28,098 2026 19,971 2027 18,556 Thereafter 63,362 Total future undiscounted operating lease payments 167,453 Less: imputed interest (25,284) Present value of operating lease liabilities $ 142,169

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Guarantees Certain of the Company’s consolidated entities have guaranteed debt or obligations. At March 31, 2023 and December 31, 2022, the maximum obligations guaranteed under these agreements totaled $1,131.1 million and $1,120.8 million, respectively. At March 31, 2023, the guarantees had expiration dates as follows (in thousands): Maturity Date Guarantee Amount August 2024 $ 30,000 December 2024 200,000 June 2026 60,000 December 2026 105,363 July 2027 700,000 June 2030 35,784 Total $ 1,131,147 At March 31, 2023 and December 31, 2022, the outstanding amount of debt on obligations related to these guarantees was $276.7 million and $327.8 million, respectively. Letters of Credit The Company had $0.5 million in letters of credit outstanding at March 31, 2023 and December 31, 2022. Commitments At March 31, 2023, the third party investors of the consolidated Public SPACs had unfunded capital commitments of $150.1 million to the consolidated Public SPACs. At March 31, 2023, the TPG Operating Group had unfunded investment commitments of $339.3 million to the TPG funds, consolidated Public SPACs and other strategic investments. Contingent Obligations (Clawback) With Affiliates The governing agreements of the TPG funds that pay performance allocations generally include a clawback provision that, if triggered, may give rise to a contingent obligation requiring the general partner to return amounts to the fund for distribution to the fund investors at the end of the life of the fund. Performance allocations received by the general partners of the respective TPG funds are subject to clawback to the extent the performance allocations received by the general partners exceeds the amount the general partners are ultimately entitled to receive based on cumulative fund results. At March 31, 2023, if all investments held by the TPG funds were liquidated at their current unrealized fair value, there would be clawback of $58.3 million, net of tax, for which a performance fee reserve was recorded within other liabilities in the Condensed Consolidated Statements of Financial Condition. At March 31, 2023, if all remaining investments were deemed worthless, a possibility management views as remote, the amount of performance allocations subject to potential clawback would be $1,861.0 million. During the three months ended March 31, 2023, the general partners made no payments on the clawback liability. Legal Actions and Other Proceedings From time to time, the Company is involved in legal proceedings, litigation and claims incidental to the conduct of our business, including with respect to acquisitions, bankruptcy, insolvency and other types of proceedings. Such lawsuits may involve claims against our portfolio companies that adversely affect the value of certain investments owned by TPG’s funds. The Company’s business is also subject to extensive regulation, which has and may result in the Company becoming subject to examinations, inquiries and investigations by various U.S. and non-U.S. governmental and regulatory agencies, including but not limited to the SEC, Department of Justice, state attorneys general, Financial Industry Regulatory Authority and the U.K. Financial Conduct Authority. Such examinations, inquiries and investigations may result in the commencement of civil, criminal or administrative proceedings or fines against the Company or its personnel. The Company accrues a liability for legal proceedings in accordance with U.S. GAAP, in particular, the Company establishes an accrued liability for loss contingencies when a settlement arising from a legal proceeding is both probable and reasonably estimable. If the matter is not probable or reasonably estimable, no such liability is recorded. Examples of this include: (i) the proceedings may be in early stages; (ii) damages sought may be unspecified, unsupportable, unexplained or uncertain; (iii) discovery may not have been started or is incomplete; (iv) there may be uncertainty as to the outcome of pending appeals or motions; (v) there may be significant factual issues to be resolved or (vi) there may be novel legal issues or unsettled legal theories to be presented or a large number of parties. Consequently, management is unable to estimate a range of potential loss, if any, related to such matters. Even when the Company accrues a liability for a loss contingency such cases, there may be an exposure to loss in excess of any amounts accrued. Loss contingencies may be, in part or in whole, subject to insurance or other payments such as contributions and/or indemnity, which may reduce any ultimate loss. Based on information presently known by management, the Company has not recorded a potential liability related to any pending legal proceeding and is not subject to any legal proceedings that we expect to have a material impact on our operations, financial positions or cash flows. It is not possible, however, to predict the ultimate outcome of all pending legal proceedings, and the claimants in the matter discussed below seek potentially large and indeterminate amounts. As such, although we do not consider such an outcome likely, given the inherent unpredictability of legal proceedings, it is possible that an adverse outcome in the matter described below or certain other matters could have a material effect on the Company’s financial results in any particular period. Since 2011, a number of TPG-related entities and individuals, including David Bonderman and Jim Coulter, have been named as defendants/respondents in a series of lawsuits in the United States, United Kingdom, and Luxembourg concerning an investment TPG held from 2005-2007 in a Greek telecommunications company, known then as TIM Hellas (“Hellas”). Entities and individuals related to Apax Partners, a London based investment firm also invested in Hellas at the time, are named in the suits as well. The cases all allege generally that a late 2006 refinancing of the Hellas group of companies was improper. To date, most of the lawsuits filed in New York Federal and State courts against TPG and Apax-related defendants have been dismissed, with those dismissals upheld on appeal, or the appeal period has passed. A lawsuit pending in the District Court of Luxembourg against two former TPG partners and two individuals related to Apax involved in the investment has been decided after trial in their favor on all claims and is now on appeal. In February 2018, a High Court case in London against a number of TPG and Apax related parties and individuals was abandoned by the claimants in the early days of a scheduled six-week trial with costs of $9.5 million awarded to the TPG and Apax-related parties, of which $3.4 million was awarded to TPG. In addition to the Luxembourg appeal, two cases in New York state court are active against TPG and Apax-related parties concerning the Hellas investment. Motions to dismiss by all defendants were made in both actions with the Court now having granted and denied in part those motions, paring back the parties, claims and amounts at issue. Appeals are pending as to the dismissal ruling in one matter (with immediate appeals possible as to the dismissal ruling in the other). The court has ruled on summary judgment motions in one case, further paring back the parties and claims in the case. Appeals are pending as to those summary judgment rulings as well. No trial date has been set in either of the two active actions. The prior noted stayed federal actions have now been dismissed by court order and stipulation. The Company believes that the suits related to the Hellas investment are without merit and intends to continue to defend them vigorously. In October 2022, the Company received a document request from the SEC focusing on the use and retention of business-related electronic communications, which, as has been publicly reported, is part of an industry-wide review. The Company is cooperating with the SEC’s request. Indemnifications

Net Income (Loss) Per Class A C

Net Income (Loss) Per Class A Common Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Income (Loss) Per Class A Common Share	The Company calculates its basic and diluted income (loss) per share using the two-class method for all periods presented, which defines unvested share-based payment awards that contain nonforfeitable rights to dividends as participating securities. The two-class method is an allocation formula that determines income per share for each share of common stock and participating securities according to dividends declared and participation rights in undistributed earnings. Under this method, all income (distributed and undistributed) is allocated to common shares and participating securities based on their respective rights to receive dividends. In computing the dilutive effect that the exchange of TPG Operating Group partnership units would have on net income available to Class A common stock per share, TPG considered that net income (loss) available to holders of shares of Class A common stock would increase due to the elimination of non-controlling interests in the TPG Operating Group, inclusive of any tax impact. The hypothetical conversion may be dilutive to the extent there is activity at the TPG Inc. level that has not previously been attributed to the non-controlling interests or if there is a change in tax rate as a result of a hypothetical conversion. Basic and diluted net income (loss) per share of Class A common stock for the three months ended March 31, 2022 is presented from January 13, 2022 through March 31, 2022, the period following the Reorganization and IPO. There were no shares of Class A common stock outstanding prior to January 13, 2022, therefore no income per share information has been presented for any period prior to that date. The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted net income (loss) per share of Class A common stock (in thousands, except share and per share data): Three Months Ended March 31, 2023 2022 Numerator: Net income $ 35,674 $ 162,804 Less: Net loss attributable to redeemable equity in Public SPACs prior to IPO — (517) Net income attributable to other non-controlling interests prior to Reorganization and IPO — 966 Net income attributable to TPG Group Holdings prior to Reorganization and IPO — 5,256 Net income subsequent to IPO 35,674 157,099 Less: Net income attributable to participating securities — 4,770 Net income attributable to redeemable equity in Public SPACs subsequent to IPO 1,529 1,823 Net loss attributable to non-controlling interests in TPG Operating Group subsequent to IPO (25,492) (9,721) Net income attributable to other non-controlling interests subsequent to IPO 34,582 118,904 Net income attributable to Class A Common Stockholders prior to distributions 25,055 41,323 Reallocation of earnings to unvested participating restricted stock units (3,888) — Net income attributable to Class A Common Stockholders - Basic 21,167 41,323 Net loss attributable to non-controlling interests in TPG Operating Group subsequent to IPO — (8,095) Net loss assuming exchange of non-controlling interest (23,424) — Reallocation of income from participating securities assuming exchange of Common Units — 1,093 Net (loss) income attributable to Class A Common Stockholders - Diluted $ (2,257) $ 34,321 Denominator: Weighted-Average Shares of Common Stock Outstanding - Basic 79,499,319 79,240,057 Exchange of Common Units to Class A Common Stock 229,641,530 229,652,641 Weighted-Average Shares of Common Stock Outstanding - Diluted 309,140,849 308,892,698 Net income (loss) available to Class A common stock per share Basic $ 0.27 $ 0.52 Diluted $ (0.01) $ 0.11 Dividends declared per share of Class A Common Stock (a) $ 0.50 $ — ___________ (a) Dividends declared reflects the calendar date of the declaration for each distribution.

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Equity-Based Compensation	Restricted Stock Awards Under the Company’s 2021 Omnibus Equity Incentive Plan (the “Omnibus Plan”), the Company is permitted to grant equity awards representing ownership interests in TPG Inc.’s Class A common stock. On January 13, 2022, the Omnibus Plan became effective and the Company authorized for issuance 30,694,780 shares of TPG Inc.’s Class A common stock. On January 6, 2023, additional 12,797,983 shares of Class A common stock were registered, increasing the share reserve to 30,889,270 of which 27,383,102 may be issued as of March 31, 2023. In conjunction with the IPO in 2022, TPG employees, certain of the Company’s executives and certain non-employees received one-time grants of equity-based awards in the form of restricted stock units which entitle the holder to one share of Class A common stock upon vesting. Further, in the ordinary course of business the Company also grants equity awards that are subject to either service conditions (“Ordinary Service-Vesting Awards”) or a combination of service and performance conditions (“Ordinary Performance-Vesting Awards”). The following table summarizes the outstanding restricted stock unit awards as of March 31, 2023 (in millions, including share data): Units Outstanding as of Compensation Expense for the three months ended March 31, 2023 Compensation Expense for the three months ended March 31, 2022 Unrecognized Compensation Expense as of March 31, 2023 Restricted Stock Units IPO Service-Vesting Awards 8.8 $ 14.5 $ 18.0 $ 195.6 IPO Executive Service-Vesting Awards 1.1 1.6 1.4 24.6 IPO Executive Performance Condition Awards 1.1 1.3 1.1 11.7 Ordinary Service-Vesting Awards 4.4 10.0 — 132.3 Ordinary Performance-Vesting Awards 0.1 0.2 — 2.8 Total Restricted Stock Units 15.5 $ 27.6 $ 20.5 $ 367.0 For the three months ended March 31, 2023 and 2022, the Company recorded total restricted stock units compensation expense o f $27.6 million and $20.5 million, respectively. The expense associated with awards granted to certain non-employees of the Company is recognized in general, administrative and other in our Condensed Consolidated Statements of Operations and totaled $0.7 million and $5.4 million for the three months ended March 31, 2023 and 2022 . For the three months ended March 31, 2023, the Company had 430,617 restricted stock units vest at a fair value of $14.6 million. The restricted stock units were settled by issuing 252,669 shares of TPG Inc. Class A Common stock, net of withholding tax of $6.0 million. IPO and Ordinary Service-Vesting Awards For the three months ended March 31, 2023, the Company issued 3.7 million of Ordinary Service-Vesting Awards. The grant date fair value of the Ordinary Service-Vesting Awards considers the public share price of the Company’s Class A common stock. The following table presents the rollforward of the Company’s unvested Service-Vesting Awards for the three months ended March 31, 2023 (awards in millions): Service-Vesting Awards Weighted-Average Grant Date Fair Value Balance at December 31, 2022 10.1 $ 29.41 Granted 3.7 34.29 Vested, settled (0.4) 29.73 Forfeited (0.2) 29.25 Balance at March 31, 2023 13.2 $ 30.78 As of March 31, 2023, there was approximately $327.9 million of total estimated unrecognized compensation expense related to unvested Service-Vesting Awards, which is expected to be recognized over the weighted average remaining requisite service period of 3.2 years. Ordinary Performance-Vesting Awards In 2022 the Company also granted 0.1 million of Ordinary Performance-Vesting Awards. The weighted-average grant date fair value per share was $26.93 for these awards. For the three months ended March 31, 2023, the Company recorded equity-based compensation expense of $0.2 million. For the three months ended March 31, 2022, the Company recorded no equity-based compensation expense. Further, as of March 31, 2023, there was approximately $2.8 million of total estimated unrecognized compensation expense related to unvested Ordinary Performance-Vesting Awards, which is expected to be recognized over the weighted average remaining requisite service period of 2.9 years. IPO Executive Awards Under the Omnibus Plan, the Company also granted 2.2 million million of Executive Awards in order to incentivize and retain key members of management and further their alignment with our shareholders in conjunction with the IPO. The Executive Awards include awards of (i) 1.1 million restricted stock units subject to service-based vesting over a five-year service period beginning with the second anniversary of the grant date (“Executive Service-Vesting Awards”) and (ii) 1.1 million market and service based restricted stock units (“Executive Performance Condition Awards”). Each Executive Performance Condition Award is comprised of two parts: (i) a time-based component requiring a five-year service period (“Type I”) and (ii) a market price component with a target Class A common stock share price at either $44.25 within five years or $59.00 within eight years (“Type II”). Dividend equivalents are paid on vested and unvested Executive Service-Vesting Awards when the dividend occurs. Dividend equivalents accrue for vested and unvested Executive Performance Condition Awards and are paid only when both the applicable service and performance conditions are satisfied. Compensation expense for Executive Service-Vesting Awards is recognized on a straight-line basis and for the Executive Performance Condition Awards using the accelerated attribution method on a tranche by tranche basis. The following table presents the rollforwards of the Company’s unvested Executive Awards for the three months ended March 31, 2023 (awards in millions): Executive Service-Vesting Awards Grant Date Fair Value Executive Performance Condition Awards Weighted Average Grant Date Fair Value Balance at December 31, 2022 1.1 $ 29.50 1.1 $ 16.58 Granted — — — — Vested — — — — Forfeited — — — — Balance at March 31, 2023 1.1 $ 29.50 1.1 $ 16.58

Equity

Equity	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Equity	The Company has two classes of common stock outstanding, Class A common stock and Class B common stock. Class A common stock is traded on the Nasdaq Global Select Market. The Company is authorized to issue 2,240,000,000 shares of Class A common stock with a par value of $0.001 per share, 100,000,000 shares of nonvoting Class A common stock, 750,000,000 shares of Class B common stock with a par value of $0.001 per share, and 25,000,000 shares of preferred stock, with a par value of $0.001 per share. Each share of the Company’s Class A common stock entitles its holder to one vote, and each share of our Class B common stock entitles its holder to ten votes. Holders of Class A common stock and Class B common stock generally vote together as a single class on all matters presented to the Company’s stockholders for their vote or approval. The nonvoting Class A common stock have the same rights and privileges as, rank equally and share ratably with, and are identical in all respects as to all matters to, the Class A common stock, except that the nonvoting Class A common stock have no voting rights other than such rights as may be required by law. Holders of Class A common stock are entitled to receive dividends when and if declared by the board of directors. Holders of the Class B common stock are not entitled to dividends in respect of their shares of Class B common stock. As of March 31, 2023, 80,492,727 shares of Class A common stock were outstanding, 228,652,641 shares of Class B common stock were outstanding, and there were no shares of preferred stock outstanding. Dividends and distributions are reflected in the Condensed Consolidated Statements of Changes in Equity when declared by the board of directors. Dividends are made to Class A common stockholders and distributions are made to holders of non-controlling interests in subsidiaries. The table below presents information regarding the quarterly dividends on the Class A common stock, which were made at the sole discretion of the Board of Directors of the Company. Date Declared Record Date Payment date Dividend per Class A Common Share May 10, 2022 May 20, 2022 June 3, 2022 $ 0.44 August 9, 2022 August 19, 2022 September 2, 2022 0.39 November 9, 2022 November 21, 2022 December 2, 2022 0.26 February 15, 2023 February 27, 2023 March 10, 2023 0.50 Total 2022 Dividend Year $ 1.59 May 15, 2023 May 25, 2023 June 5, 2023 $ 0.20 Total 2023 Dividend Year (through Q1 2023) $ 0.20 Exchange of Common Units Pursuant to the exchange agreement entered into at the time of our IPO (the “Exchange Agreement”), on March 30, 2023 a pre-IPO Investor exchanged 1,000,000 Common Units of each TPG Operating Group partnership for 1,000,000

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	On May 15, 2023, the Company and Angelo, Gordon & Co., L.P. announced a strategic transaction whereby the Company will acquire Angelo, Gordon & Co., L.P. and AG Funds L.P. (collectively, “Angelo Gordon”) and certain of their affiliated entities (the “Angelo Gordon Parties”), an alternative investment firm focused on credit and real estate investing for estimated closing consideration to be paid of $970.0 million in cash (based on an assumed level of net cash and current assets of Angelo Gordon), and up to an aggregate of approximately 62.5 million Common Units of the TPG Operating Group II, L.P., an indirect subsidiary of the Company (including an equal number of shares of Class B common stock of the Company), and restricted stock units of the Company, in each case, subject to the adjustments set forth in the transaction agreement. In addition, upon the satisfaction of certain fee-related revenue targets by the Angelo Gordon Parties during the period beginning on January 1, 2026 and ending on December 31, 2026, the Angelo Gordon Parties will be entitled to an earnout payment of up to $400.0 million. The transaction is subject to required regulatory approvals and certain other customary closing conditions. Other than the events noted above and in Notes 8, 10 and 15 to the Condensed Consolidated Financial Statements, there have been no additional events since March 31, 2023 that require recognition or disclosure in the Condensed Consolidated Financial Statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements (the “Condensed Consolidated Financial Statements”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the Company’s Condensed Consolidated Financial Statements. All dollar amounts are stated in thousands unless otherwise indicated. These interim Condensed Consolidated Financial Statements should be read in conjunction with the Company’s Form 10-K for the year ended December 31, 2022. All intercompany transactions and balances have been eliminated. These interim Condensed Consolidated Financial Statements are unaudited and have been prepared on a basis consistent with that used to prepare the audited Consolidated Financial Statements. The operating results presented for interim periods are not necessarily indicative of the results expected for the full year ending December 31, 2023. The Condensed Consolidated Financial Statements include the accounts of TPG Inc., TPG Operating Group and their consolidated subsidiaries, TPG’s management companies, the general partners of TPG funds and entities that meet the definition of a variable interest entity (“VIE”) for which the Company is considered the primary beneficiary. All of the management fees and other amounts earned from the consolidated Public SPACs are eliminated in consolidation. In addition, the equivalent expense amounts recorded by the consolidated Public SPACs are also eliminated, with such reduction of expenses allocated to controlling interest holders. Accordingly, the consolidation of these entities has no net effect on net income attributable to TPG Inc. or net income attributable to other non-controlling interests. The TPG funds make investments into portfolio companies which are considered affiliates due to the nature of the Company’s ownership interests.
Use of Estimates	Use of EstimatesThe preparation of the Condensed Consolidated Financial Statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements, and the reported amounts of revenues, expenses, and investment income during the reporting periods. Actual results could differ from those estimates and such differences could be material to the Condensed Consolidated Financial Statements.
Principles of Consolidation	Principles of Consolidation The types of entities TPG assesses for consolidation include subsidiaries, management companies, broker-dealers, general partners of investment funds, investment funds, SPACs and other entities. Each of these entities is assessed for consolidation on a case by case basis depending on the specific facts and circumstances surrounding that entity. TPG first considers whether an entity is considered a VIE and therefore whether to apply the consolidation guidance under the VIE model. Entities that do not qualify as VIEs are assessed for consolidation as voting interest entities (“VOE”) under the voting interest model. An entity is considered to be a VIE if any of the following conditions exist: (i) the equity investment at risk is not sufficient to finance the activities of the entity without additional subordinated financial support, (ii) as a group, the holders of the equity investment at risk lack the power to direct the activities that most significantly impact the entity’s economic performance or the obligation to absorb the expected losses or right to receive the expected residual returns, and (iii) the voting rights of some holders of the equity investment at risk are disproportionate to their obligation to absorb losses or right to receive returns, and substantially all of the activities are conducted on behalf of the holder of equity investment at risk with disproportionately few voting rights. For limited partnerships, partners lack power if neither (i) a simple majority or lower threshold (including a single limited partner) with equity at risk is able to exercise substantive kick-out rights through voting interests over the general partner, nor (ii) limited partners with equity at risk are able to exercise substantive participating rights over the general partners. TPG consolidates all VIEs in which it is the primary beneficiary. An entity is determined to be the primary beneficiary if it holds a controlling financial interest in a VIE. A controlling financial interest is defined as (i) the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. The consolidation guidance requires an analysis to determine (i) whether an entity in which TPG holds a variable interest is a VIE and (ii) whether TPG’s involvement, through holding interest directly or indirectly in the entity or contractually through other variable interests, would give it a controlling financial interest. Performance of that analysis requires judgment. The analysis can generally be performed qualitatively; however, if it is not readily apparent that TPG is not the primary beneficiary, a quantitative analysis may also be performed. TPG factors in all economic interests including interests held through related parties, to determine if it holds a variable interest. Fees earned by TPG that are customary and commensurate with the level of effort required for the services provided, and where TPG does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, would not be considered variable interests. TPG determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and continuously reconsiders that conclusion when facts and circumstances change. Entities that are determined not to be VIEs are generally considered to be VOEs and are evaluated under the voting interest model. TPG consolidates VOEs that it controls through a majority voting interest or through other means.
Investments	Investments Investments consist of investments in private equity funds, real estate funds, hedge funds and credit funds, including our share of any performance allocations and equity method and other proprietary investments. Investments denominated in currencies other than the U.S. dollar are valued based on the spot rate of the respective currency at the end of the reporting period with changes related to exchange rate movements reflected in the Condensed Consolidated Financial Statements. Equity Method – Performance Allocations and Capital Interests Investments in which the Company is deemed to have significant influence, but not control, are accounted for using the equity method of accounting except in cases where the fair value option has been elected. The Company as general partner has significant influence over the TPG funds in which it invests but does not consolidate. The Company uses the equity method of accounting for these interests whereby it records both its proportionate and disproportionate allocation of the underlying profits or losses of these entities in revenues in the accompanying Condensed Consolidated Financial Statements. The carrying amounts of equity method investments are included in investments in the Condensed Consolidated Financial Statements. The Company evaluates its equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. The difference between the carrying value and its estimated fair value is recognized as an impairment when the loss is deemed other than temporary. The TPG funds are considered investment companies under Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies (“ASC 946”). The Company, along with the TPG funds, applies the specialized accounting promulgated in ASC 946 and, as such, neither the Company nor the TPG funds consolidate wholly-owned, majority-owned and/or controlled portfolio companies. The TPG funds record all investments in the portfolio companies at fair value. Investments in publicly traded securities are generally valued at quoted market prices based upon the last sales price on the measurement date. Discounts are applied, where appropriate, to reflect restrictions on the marketability of the investment. When observable prices are not available for investments, the general partners use the market and income approaches to determine fair value. The market approach consists of utilizing observable market data, such as current trading or acquisition multiples of comparable companies, and applying it to key financial metrics, such as earnings before interest, depreciation and taxes, of the portfolio company. The comparability of the identified set of comparable companies to the portfolio company, among other factors, is considered in the application of the market approach. The general partners, depending on the type of investment or stage of the portfolio company’s lifecycle, may also utilize a discounted cash flow analysis, an income approach, in combination with the market approach in determining fair value of investments. The income approach involves discounting projected cash flows of the portfolio company at a rate commensurate with the level of risk associated with those cash flows. In accordance with ASC Topic 820, Fair Value Measurement (“ASC 820”) market participant assumptions are used in the determination of the discount rate. In applying valuation techniques used in the determination of fair value, the general partners assume a reasonable period of time for liquidation of the investment and take into consideration the financial condition and operating results of the underlying portfolio company, the nature of the investment, restrictions on marketability, market conditions, foreign currency exposures and other factors. In determining the fair value of investments, the general partners exercise significant judgment and use the best information available as of the measurement date. Due to the inherent uncertainty of valuations, the fair values reflected in the accompanying Condensed Consolidated Financial Statements may differ materially from values that would have been used had a readily available market existed for such investments and may differ materially from the values that may ultimately be realized. Equity Method Investments – Other The Company holds non-controlling, limited partnership interests in certain other partnerships in which it has significant influence over their operations. The Company uses the equity method of accounting for these interests whereby it records its proportionate share of the underlying income or losses of these entities in net gains (losses) from investment activities in the accompanying Condensed Consolidated Financial Statements. The carrying amounts of equity method investments are included in investments in the Condensed Consolidated Financial Statements. The Company evaluates its equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. The difference between the carrying value and its estimated fair value is recognized as an impairment when the loss is deemed other than temporary and recorded in net gains (losses) from investment activities within the Condensed Consolidated Financial Statements. Equity Method – Fair Value Option The Company elects the fair value option for certain investments that would otherwise be accounted for using the equity method of accounting. Such election is irrevocable and is applied on an investment-by-investment basis at initial recognition. The fair value of such investments is based on quoted prices in an active market. Changes in the fair value of these equity method investments are recognized in net gains (losses) from investment activities in the Condensed Consolidated Financial Statements.
Equity Investments	Equity Investments The Company holds non-controlling ownership interests in which it does not have significant influence over their operations. The Company records such investments at fair value when there is a readily determinable fair value. For certain nonpublic partnerships without readily determinable fair values, the Company has elected to measure those investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Impairment is evaluated when significant changes occur that may impact the investee in an adverse manner. Impairment, if any, is recognized in net gains (losses) from investment activities in the Condensed Consolidated Financial Statements.
Non-Controlling Interests	Non-Controlling InterestsNon-controlling interests consists of ownership interests held by third-party investors in certain entities that are consolidated, but not 100% owned. The aggregate of the income or loss and corresponding equity that is not owned by the Company is included in non-controlling interests in the Condensed Consolidated Financial Statements. Allocation of income to non-controlling interest holders is based on the respective entities’ governing documents.
Revenues	Revenues Revenues consisted of the following (in thousands): Three Months Ended March 31, 2023 2022 Management fees $ 250,559 $ 204,808 Fee Credits (559) (8,328) Monitoring fees 2,756 4,001 Transaction fees 2,473 29,209 Expense reimbursements and other 56,242 43,315 Total fees and other 311,471 273,005 Performance allocations 315,707 799,958 Capital interests 15,967 37,747 Total capital allocation-based income 331,674 837,705 Total revenues $ 643,145 $ 1,110,710 Fees and Other Fees and other are accounted for as contracts with customers under ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). The guidance for contracts with customers provides a five-step framework that requires the Company to (i) identify the contract with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when the Company satisfies its performance obligations. In determining the transaction price, the Company includes variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. Revenue Streams Customer Performance Obligations satisfied over time or point in time (a) Variable or Fixed Consideration Revenue Recognition Classification of Uncollected Amounts (b) Management Fees TPG funds, limited partners and other vehicles Asset management services are satisfied over time (daily) because the customer receives and consumes the benefits of the advisory services daily Consideration is variable since over time the management fee varies based on fluctuations in the basis of the calculation of the fee Management fees are recognized each reporting period based on the value provided to the customer for that reporting period Due from affiliates – unconsolidated VIEs Monitoring Fees Portfolio companies In connection with the investment advisory services provided, the Company earns monitoring fees for providing oversight and advisory services to certain portfolio companies over time Consideration is variable when based on fluctuations in the basis of the calculation of the fee Consideration is fixed when based on a fixed agreed-upon amount Monitoring fees are recognized each reporting period based on the value provided to the customer for that reporting period Due from affiliates – portfolio companies Transaction Fees Portfolio companies, third-parties and other vehicles The company provides advisory services, debt and equity arrangements, and underwriting and placement services for a fee at a point in time Consideration is fixed and is based on a point in time Transaction fees are recognized on or shortly after the transaction is completed Due from affiliates – portfolio companies Other assets - other Incentive Fees TPG funds and other vehicles Investment management services performed over a period of time that result in achievement of minimum investment return levels Consideration is variable since incentive fees are contingent upon the TPG Fund or vehicles achieving more than the stipulated investment threshold return Incentive fees are recognized at the end of the performance measurement period if the investment performance is achieved Due from affiliates – unconsolidated VIEs Expense Reimbursements and other TPG funds, portfolio companies and third-parties Expense reimbursements incurred at a point in time relate to providing investment, management and monitoring services. Other revenue is performed over time. Expense reimbursements and other are fixed consideration Expense reimbursements and other are recognized as the expenses are incurred or services are rendered Due from affiliates – portfolio companies and unconsolidated VIEs Other assets – other _________________ (a) There were no significant judgments made in evaluating when a customer obtains control of the promised service for performance obligations satisfied at a point in time. (b) See Note 1 Management Fees The Company provides investment management services to the TPG funds, limited partners and other vehicles in exchange for a management fee. Management fees are determined quarterly based on an annual rate and are generally based upon a percentage of the capital committed or capital invested during the investment period. Thereafter, management fees are generally based on a percentage of actively invested capital or as otherwise defined in the respective management agreements. Since some of the factors that cause management fees to fluctuate are outside of the Company’s control, management fees are considered constrained and are not included in the transaction price until the uncertainty relating to the constraint is subsequently resolved. After the contract is established, management does not make any significant judgments in determining the transaction price. Management fees earned generally range from 0.50% to 2.00% of committed capital during the commitment period and from 0.25% to 2.00% of actively invested capital after the commitment period or at an annual rate of fund gross assets, as defined in the respective partnership agreements of the TPG funds. Management fees charged to consolidated Public SPACs are eliminated in consolidation. Monitoring Fees The Company provides monitoring services to certain portfolio companies in exchange for a fee, which is recognized over time as services are rendered. After the monitoring contract is established, there are no significant judgments made in determining the transaction price. Transaction Fees The Company provides capital structuring and other advice to portfolio companies, third parties and other vehicles generally in connection with debt and equity arrangements, as well as underwriting and placement services for a fee at a point in time when the underlying advisory services rendered are complete. Transaction fees are separately negotiated for each transaction and are generally based on the underlying transaction value. After the contract is established, management makes no significant judgements when determining the transaction price. Fee Credits Under the terms of the management agreements with certain TPG funds, the Company is required to reduce management fees payable by funds by an agreed upon percentage of certain fees, including monitoring and transaction fees earned from portfolio companies (“Fee Credits”). Investment funds receive the benefit of Fee Credits only with respect to monitoring and transaction fees that are allocable to the fund’s investment in the portfolio company and not, for example, any fees allocable to capital invested through co-investment vehicles. Fee Credits are calculated after deducting certain costs incurred in connection with reimbursements of specialized operational services associated with providing specialized operations and consulting services to the funds and portfolio companies. Fee Credits are recognized by investment funds concurrently with the recognition of monitoring fees and transaction fees. Since Fee Credits are payable to investment funds, amounts of Fee Credits are generally applied as a reduction of the management fee that is otherwise billed to the investment fund. Fee Credits are recorded as a reduction of revenues in the Condensed Consolidated Statement of Operations. Fee Credits payable to investment funds are recorded in due to affiliates in the Condensed Consolidated Financial Statements. See Note 1 0 Incentive Fees The Company provides investment management services to certain TPG funds and other vehicles in exchange for a management fee as discussed above and, in some cases, an incentive fee when the Company is not entitled to performance allocations, as further discussed below. Incentive fees are considered variable consideration as these fees are subject to reversal, and therefore the recognition of such fees is deferred until the end of the measurement period when the performance-based incentive fees become fixed and determinable. After the contract is established, there are no significant judgments made when determining the transaction price. During the three months ended March 31, 2023 and 2022, the Company did not earn any incentive fees. Expense Reimbursements and Other In providing investment management and advisory services to TPG funds and monitoring services to the portfolio companies, TPG routinely contracts for services from third parties. In situations where the Company is viewed, for accounting purposes only, as having incurred these third-party costs on behalf of the TPG funds or portfolio companies, the cost of such services is presented net as a reduction of the Company’s revenues. In all other situations, the expenses and related reimbursements associated with these services are presented on a gross basis, which are classified as part of the Company’s expenses, and reimbursements of such costs are classified as expense reimbursements within revenues in the Condensed Consolidated Financial Statements. After the contract is established, there are no significant judgments made when determining the transaction price.
Capital Allocation-Based Income (Loss)	Capital Allocation-Based Income (Loss) Capital allocation-based income (loss) is earned from the TPG funds when the Company has a general partner’s capital interest and is entitled to a disproportionate allocation of investment income (referred to hereafter as “performance allocations”). The Company records capital allocation-based income (loss) under the equity method of accounting assuming the fund was liquidated as of each reporting date pursuant to each TPG fund’s governing agreements. Accordingly, these general partner interests are accounted for outside of the scope of ASC 606. Other arrangements surrounding contractual incentive fees through an advisory contract are separate and distinct and accounted for in accordance with ASC 606. In these incentive fee arrangements, the Company’s economics in the entity do not involve an allocation of capital. See discussion above regarding “Incentive Fees”. Performance allocations are allocated to the general partners based on cumulative fund performance as of each reporting date, and after specified investment returns to the funds’ limited partners are achieved. At the end of each reporting period, the TPG funds calculate and allocate the performance allocations that would then be due to the general partner for each TPG fund, pursuant to the TPG fund governing agreements, as if the fair value of the underlying investments were realized as of such date, irrespective of whether such amounts have been realized. As the fair value of underlying investments (and the investment returns to the funds’ limited partners) varies between reporting periods, it is necessary to make adjustments to amounts recorded as performance allocations to reflect either (i) positive performance resulting in an increase in the performance allocations allocated to the general partner or (ii) negative performance that would cause the amount due to the general partner to be less than the amount previously recognized, resulting in a negative adjustment to performance allocations allocated to the general partner. In each case, performance allocations are calculated on a cumulative basis and cumulative results are compared to amounts previously recorded with a current period adjustment, positive or negative, recorded. The Company ceases to record negative performance allocations once previously recognized performance allocations for a TPG fund have been fully reversed, including realized performance allocations. The general partner is not obligated to make payments for guaranteed returns or hurdles of a fund and, therefore, cannot have negative performance allocations over the life of a fund. Accrued but unpaid performance allocations as of the reporting date are reflected in investments in the Company’s Condensed Consolidated Financial Statements. Performance allocations received by the general partners of the respective TPG funds are subject to clawback to the extent the performance allocations received by the general partner exceed the amount the general partner is ultimately entitled to receive based on cumulative fund results. Generally, the actual clawback liability does not become due until eighteen months after the realized loss is incurred; however, individual fund terms vary. For disclosures at March 31, 2023 related to clawback, see Note 12
Investment Income	Investment Income Income from equity method investments The carrying value of equity method investments in proprietary investments where the Company exerts significant influence is generally determined based on the amounts invested, adjusted for the equity in earnings or losses of the investee allocated based on the Company’s ownership percentage, less distributions and any impairment. The Company records its proportionate share of investee’s equity in earnings or losses based on the most recently available financial information, which in certain cases may lag the date of TPG’s financial statements by up to three calendar months. Income from equity method investments is recorded in net gains (losses) from investment activities on the Condensed Consolidated Financial Statements. Income from equity method investments for which the fair value option was elected Income from equity method investments for which the fair value option was elected includes realized gains and losses from the sale of investments, and unrealized gains and losses from changes in the fair value during the period as a result of quoted prices in an active market. Discounts are applied, where appropriate, to reflect restrictions on the marketability of the investment. Income from equity method investments for which the fair value option was elected is recorded in net gains (losses) from investment activities on the Condensed Consolidated Financial Statements. Income from equity investments Income from equity investments, which represent investments held through equity securities of an investee that the Company does not hold significant influence over, includes realized gains from the sale of investments and unrealized gains and losses result from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Income from equity investments is recorded in net gains (losses) from investment activities on the Condensed Consolidated Financial Statements. Unrealized gains (losses) from derivative liabilities of Public SPACs Unrealized gains (losses) from derivative liabilities of Public SPACs includes unrealized gains and losses from changes in fair value of warrants and forward purchase agreements (“FPAs”). Interest, dividends and other
Compensation and Benefits	Compensation and Benefits Cash-based compensation and benefits includes (i) salaries and wages, (ii) benefits and (iii) discretionary cash bonuses. Bonuses are accrued over the service period to which they relate. Compensation expense related to the issuance of equity-based awards is measured at grant-date fair value. Compensation expense for awards that vest over a future service period is recognized over the relevant service period on a straight-line basis. Compensation expense for awards that do not require future service is recognized immediately. Compensation expense for awards that contain market and service conditions is based on grant-date fair value that factors in the probability that the market conditions will be achieved and is recognized on a tranche by tranche basis using the accelerated attribution method. The requisite service period for those awards is the longer of the explicit service period and the derived service period. The Company recognizes equity-based award forfeitures in the period they occur as a reversal of previously recognized compensation expense.
Net Income (Loss) Per Share of Class A Common Stock	Net Income (Loss) Per Share of Class A Common Stock Basic income (loss) per share of Class A common stock is calculated by dividing net income (loss) attributable to TPG Inc. by the weighted-average shares of Class A common stock, unvested participating shares of Class A common stock outstanding for the period and vested deferred restricted shares of Class A common stock that have been earned for which issuance of the related shares of Class A common stock is deferred until future periods. Diluted income (loss) per share of Class A Common Stock reflects the impact of all dilutive securities. Unvested participating shares of common stock are excluded from the computation in periods of loss as they are not contractually obligated to share in losses. The Company applies the treasury stock method to determine the dilutive weighted-average common shares represented by the unvested restricted stock units. The Company applies the if-converted method to the TPG Operating Group partnership units to determine the dilutive impact, if any, of the exchange right included in the TPG Operating Group partnership units.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents include cash on deposit with banks and other short-term investments with an initial maturity of 90 days or less. Restricted cash balances relate to cash balances reserved for the payment of interest on the Company’s secured borrowings.
Cash, and Cash Equivalents and Restricted Cash, Cash and Cash Equivalents Held by Consolidated Public SPACs	Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents include cash on deposit with banks and other short-term investments with an initial maturity of 90 days or less. Restricted cash balances relate to cash balances reserved for the payment of interest on the Company’s secured borrowings. Cash and Cash Equivalents Held by Consolidated Public SPACs Cash and cash equivalents held by consolidated Public SPACs represent cash and cash equivalents that are held by consolidated Public SPACs and are not available to fund the general liquidity needs of the Company.
Assets Held in Trust Accounts	Assets Held in Trust Accounts Proceeds from equity issued by certain consolidated Public SPACs have been deposited into trust accounts (“Trust Accounts”) and may only be utilized for specific purposes. Therefore, such cash and investments are reported separately in assets held in Trust Accounts on the Condensed Consolidated Financial Statements. As of March 31, 2023 and December 31, 2022, TPG Pace Beneficial II Corp. (“YTPG”) assets held in Trust Accounts were deposited into a non-interest-bearing U.S. based account. On April 17, 2023, YTPG used these funds to redeem its outstanding Class A ordinary shares, par value $0.0001 (the “Class A Shares”). See Note 10 to the Condensed Consolidated Financial Statements.
Derivatives of Public SPACs	Derivative Liabilities of Public SPACs Financial derivative assets and liabilities related to our consolidated Public SPACs’ investment activities consist of warrant liabilities and forward purchase agreements. The Company recognizes these derivative instruments as assets or liabilities at fair value in the accompanying Condensed Consolidated Financial Statements. Changes in the fair value of derivative contracts entered into by the Company are included in current period earnings. These derivative contracts are not designated as hedging instruments for accounting purposes. These derivatives are agreements in which a consolidated Public SPAC and a counterparty agree to exchange cash flows based on agreed-upon terms. As a result of the derivative transaction, the Company is exposed to the risk that counterparties will fail to fulfill their contractual obligations. To mitigate such counterparty risk, the applicable Public SPAC only enters into contracts with major financial institutions, all of which have investment grade ratings. Counterparty credit risk is evaluated in determining the fair value of the derivative instruments. In the normal course of business, the Company incurs commitments and is exposed to risks resulting from its investment and financing transactions, including derivative instruments. The value of a derivative instrument is based upon an underlying instrument. These instruments are subject to various risks similar to non-derivative instruments including market, credit, liquidity, performance and operational risks. The Company manages these risks on an aggregate basis as part of its risk management policies and as such, does not distinguish derivative income or loss from any other category of instruments for financial statement presentation purposes. The leverage inherent in the Company’s derivative instruments increases the sensitivity of the Company’s earnings to market changes. Notional amounts often are used to express the volume of these transactions, but the amounts potentially subject to risk are much smaller. The Company routinely evaluates its contractual arrangements to determine whether embedded derivatives exist. Embedded derivatives are separated from the host contract and accounted for separately if the economic characteristics and risks of the host contract and the embedded derivative are not closely related, if a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative and if the combined instrument is not measured at fair value through profit or loss. For derivative contracts where an enforceable master netting agreement is in place, the Company has elected to offset derivative assets and liabilities, as well as cash that may have been received or pledged, as part of collateral arrangements with the respective counterparty in the Condensed Consolidated Financial Statements. The master netting agreements provide the Company and the counterparty the right to liquidate collateral and the right to offset each other’s obligations in the event of default by either party.
Fair Value Measurement	Fair Value Measurement ASC 820 establishes a fair value hierarchy that prioritizes and ranks the level of observability of inputs used to measure the investments at fair value. The observability of inputs is impacted by a number of factors, including the type of investment, characteristics specific to the investment, market conditions and other factors. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level I measurements) and the lowest priority to unobservable inputs (Level III measurements). Investments with readily available quoted prices or for which fair value can be measured from quoted prices in active markets will typically have a higher degree of input observability and a lesser degree of judgment applied in determining fair value. The three levels of the fair value hierarchy under ASC 820 are as follows: Level I – Quoted prices (unadjusted) in active markets for identical investments at the measurement date are used. The types of investment generally included in Level I are publicly listed equities, debt and securities sold, not yet purchased. Level II – Pricing inputs are other than quoted prices included within Level I that are observable for the investment, either directly or indirectly. Level II pricing inputs include quoted prices for similar investments in active markets, quoted prices for identical or similar investments in markets that are not active, inputs other than quoted prices that are observable for the investment, and inputs that are derived principally from or corroborated by observable market data by correlation or other means. The types of investments generally included in Level II are restricted securities listed in active markets, corporate bonds and loans. Level III – Pricing inputs are unobservable and include situations where there is little, if any, market activity for the investment. The inputs used in determination of fair value require significant judgment and estimation. The types of investments generally included in Level III are privately held debt and equity securities. In some cases, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the investment is categorized in its entirety is determined based on the lowest level input that is significant to the investment. Assessing the significance of a particular input to the valuation of an investment in its entirety requires judgment and considers factors specific to the investment. The categorization of an investment within the hierarchy is based upon the pricing transparency of the investment and does not necessarily correspond to the perceived risk of that investment. In certain instances, an investment that is measured and reported at fair value may be transferred into or out of Level I, II, or III of the fair value hierarchy. In certain cases, debt and equity securities are valued on the basis of prices from an orderly transaction between market participants provided by reputable dealers or pricing services. In determining the value of a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrices, market transactions in comparable investments and various relationships between investments. When a security is valued based on dealer quotes, the Company subjects those quotes to various criteria in making the determination as to whether a particular investment would qualify for treatment as a Level II or Level III investment. Some of the factors considered include the number and quality of quotes, the standard deviations of the observed quotes and the corroboration of the quotes to independent pricing services. Level III investments may include common and preferred equity securities, corporate debt, and other privately issued securities. When observable prices are not available for these securities, one or more valuation techniques (e.g., the market approach and/or the income approach) for which sufficient and reliable data is available are used. Within Level III, the use of the market approach generally consists of using comparable market transactions or other data, while the use of the income approach generally utilizes the net present value of estimated future cash flows, adjusted, as appropriate, for liquidity, credit, market and other risk factors. Due to the inherent uncertainty of these valuations, the fair values reflected in the accompanying Condensed Consolidated Financial Statements may differ materially from values that would have been used had a readily available market for the investments existed and may differ materially from the values that may ultimately be realized. The period of time over which the underlying assets of the investments will be liquidated is unknown.
Financial Instruments	Financial Instruments Financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Except for secured borrowings, the fair value of the Company’s assets and liabilities, including our senior unsecured term loan, which qualify as financial instruments under ASC 820, approximates the carrying amounts represented in the Condensed Consolidated Financial Statements due to their short-term nature and in the case of our senior unsecured term loan due to its variable rate nature. See Note 8
Due from Due to Affiliates	Due From and Due To Affiliates The Company considers current and former limited partners of funds and employees, including their related entities, entities controlled by the Company’s Founders but not consolidated by the Company, portfolio companies of TPG funds, and unconsolidated TPG funds to be affiliates (“Affiliates”). Receivables from and payables to affiliates are recorded at their expected settlement amount in due from and due to affiliates in the Condensed Consolidated Financial Statements.
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the fair value of acquired identifiable net tangible and intangible assets. Goodwill is not amortized. Goodwill is reviewed for impairment at least annually utilizing a qualitative or quantitative approach, and more frequently if circumstances indicate impairment may have occurred. The impairment testing for goodwill under the qualitative approach is based first on a qualitative assessment to determine if it is more likely than not that the fair value of the Company’s reporting unit is less than its respective carrying value. If it is determined that it is more likely than not that a reporting unit’s fair value is less than its carrying value, the Company performs a quantitative analysis. When the quantitative approach indicates an impairment, an impairment loss is recognized to the extent by which the carrying value exceeds the fair value, not to exceed the total amount of goodwill. As of March 31, 2023, we believe it is more likely than not that the fair value of our reporting unit exceeds its carrying value.
Intangible assets	Intangible Assets The Company’s intangible assets consist of the fair value of its interests in future promote of certain funds and the fair value of acquired investor relationships representing the fair value of management fees earned from existing investors in future funds. Finite-lived intangible assets are amortized over their estimated useful lives, which range from five
Operating Leases	Operating Leases At contract inception, the Company determines if an arrangement contains a lease by evaluating whether (i) an identified asset has been deployed in a contract explicitly or implicitly and (ii) the Company obtains substantially all the economic benefits from the use of that underlying asset and directs how and for what purpose the asset is used during the term of the contract. Additionally, at contract inception the Company will evaluate whether the lease is an operating or finance lease. Right-of use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease liabilities are recognized at the commencement date based on the present value of the lease payments over the lease term. To the extent these payments are fixed or determinable, they are included as part of the lease payments used to measure the lease liability. The Company’s ROU assets are recognized as the initial measurement of the lease liabilities plus any initial direct costs and any prepaid lease payments less lease incentives received, if any. The lease terms may include options to extend or terminate the lease which are accounted for when it is reasonably certain that the Company will exercise that option. As the discount rate implicit to the lease is not readily determinable, incremental borrowing rates of the Company were used. The incremental borrowing rates are based on the information available including, but not limited to, collateral assumptions, the term of the lease, and the economic environment in which the lease is denominated at the commencement date. The Company elected the package of practical expedients provided under the guidance. The practical expedient package applies to leases commenced prior to the adoption of the new standard and permits companies not to reassess whether existing or expired contracts are or contain a lease, the lease classification, and any initial direct costs for any existing leases. The Company has elected to not separate the lease and non-lease components within the contract. Therefore, all fixed payments associated with the lease are included in the ROU asset and the lease liability. These costs often relate to the fixed payments for a proportionate share of real estate taxes, common area maintenance and other operating costs in addition to a base rent. Any variable payments related to the lease are recorded as lease expense when and as incurred. The Company has elected this practical expedient for all lease classes. The Company did not elect the hindsight practical expedient. The Company has elected the short-term lease expedient. A short-term lease is a lease that, as of the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise. For such leases, the Company will not apply the recognition requirements of ASC Topic 842, Leases (“ASC 842”) and instead will recognize the lease payments as lease cost on a straight-line basis over the lease term. Additionally, the Company elected the practical expedient which allows an entity to not reassess whether any existing land easements are or contain leases. The Company’s leases primarily consist of operating leases for real estate, which have remaining terms of 1 to 10 years. Some of those leases include options to extend for additional terms ranging from 2 to 10 years. The Company’s other leases, including those for office equipment, vehicles, and aircrafts, are not significant. Additionally, the Company’s leases do not contain restrictions or covenants that restrict the Company from incurring other financial obligations. The Company also does not provide any residual value guarantees for the leases or have any significant leases that have yet to be commenced. From time to time, the Company enters into certain sublease agreements that have terms similar to the remaining terms of the master lease agreements between TPG and the landlord. Sublease income is recorded as an offset to general, administrative and other in the accompanying Condensed Consolidated Financial Statements. Operating lease expense is recognized on a straight-line basis over the lease term and is recorded within general, administrative and other in the accompanying Condensed Consolidated Financial Statements (see Note 1
Redeemable Equity from Consolidated Public SPACs	Redeemable Equity from Consolidated Public SPACs Redeemable equity from consolidated Public SPACs represents the shares issued by the Company’s consolidated Public SPACs that are redeemable for cash by the public shareholders in the event of an election to redeem by individual public shareholders at the time of the business combination. The Company accounts for redeemable equity in accordance with ASC Topic 480-10-S99, Distinguishing Liabilities from Equity (“ASC 480”), which states redemption provisions not solely within the control of the Company require ordinary shares subject to redemption to be classified outside of permanent equity. The redeemable non-controlling interests are initially recorded at their original issuance price and are subsequently allocated their proportionate share of the underlying gains or losses of the Public SPACs. The Company adjusts the redeemable equity to full redemption value on a quarterly basis.
Income Taxes	Income Taxes As a result of the Reorganization, the Company is treated as a corporation for U.S. federal and state income tax purposes. The Company is subject to U.S. federal and state income taxes, in addition to local and foreign income taxes, with respect to our allocable share of taxable income generated by the TPG Operating Group partnerships. Prior to the Reorganization and the IPO, the Company was treated as a partnership for U.S. federal income tax purposes and therefore was not subject to U.S. federal and state income taxes except for certain consolidated subsidiaries that were subject to taxation in the U.S. (federal, state and local) and foreign jurisdictions as a result of their entity classification for tax reporting purposes. The provision for income taxes in the historical Condensed Consolidated Financial Statements consists of U.S. (federal, state and local) and foreign income taxes with respect to certain consolidated subsidiaries. Deferred tax assets and liabilities are recognized for future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period in which the enactment date occurs. Under ASC Topic 740, Income Taxes , a valuation allowance is established when management believes it is more likely than not that a deferred tax asset will not be realized. The realization of deferred tax assets is dependent on the amount of our future taxable income. When evaluating the realizability of deferred tax assets, all evidence (both positive and negative) is considered. This evidence includes, but is not limited to, expectations regarding future earnings, future reversals of existing temporary tax differences and tax planning strategies. Tax laws are complex and subject to different interpretations by the taxpayer and respective governmental taxing authorities. Significant judgment is required in determining tax expense and in evaluating tax positions including evaluating uncertainties. The Company reviews its tax positions quarterly and adjusts its tax balances as new information becomes available. The Company recognizes interest and penalties relating to unrecognized tax benefits as income tax expense (benefit) within the Condensed Consolidated Financial Statements.
Recent Accounting Pronouncements and Recently Adopted Accounting Guidance	Recent Accounting Pronouncements In June 2022, the FASB issued Accounting Standard Update (“ASU”) 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”) which (1) clarifies the guidance in ASC 820 on the fair value measurement of an equity security that is subject to a contractual sale restriction and (2) requires specific disclosures related to such an equity security. Under current guidance, stakeholders have observed diversity in practice related to whether contractual sale restrictions should be considered in the measurement of the fair value of equity securities that are subject to such restrictions. The amendments in ASU 2022-03 should be applied to equity securities with a contract containing a sale restriction that is executed or modified on or after the adoption date. For equity securities with a contract containing a sale restriction that was executed before the adoption date, companies should continue to apply the historical accounting policy for measuring such securities until the contractual restriction expires or is modified. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, with early adoption permitted. The Company’s adoption of ASU 2022-03 on a prospective basis beginning January 1, 2023 did not have a material impact to its Condensed Consolidated Financial Statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Disaggregation of Revenue	Revenues consisted of the following (in thousands): Three Months Ended March 31, 2023 2022 Management fees $ 250,559 $ 204,808 Fee Credits (559) (8,328) Monitoring fees 2,756 4,001 Transaction fees 2,473 29,209 Expense reimbursements and other 56,242 43,315 Total fees and other 311,471 273,005 Performance allocations 315,707 799,958 Capital interests 15,967 37,747 Total capital allocation-based income 331,674 837,705 Total revenues $ 643,145 $ 1,110,710

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of Equity Method Investments	Investments consist of the following (in thousands): March 31, 2023 December 31, 2022 Equity method - performance allocations $ 4,839,966 $ 4,677,017 Equity method - capital interests (includes assets pledged of $488,655 and $475,110) 631,171 607,964 Equity method - fair value option 38,281 20,907 Equity method - other 11,638 11,908 Equity investments 9,785 12,072 Total investments $ 5,530,841 $ 5,329,868 Three Months Ended March 31, 2023 2022 Net gains (losses) from investment activities Net gains of equity method investments, fair value option $ 17,375 $ 7,888 Net (losses) gains of equity method investments - other (271) 228 Net losses from equity investments (2,288) (1,473) Total net gains from investment activities $ 14,816 $ 6,643
Summary of Equity Securities	Investments consist of the following (in thousands): March 31, 2023 December 31, 2022 Equity method - performance allocations $ 4,839,966 $ 4,677,017 Equity method - capital interests (includes assets pledged of $488,655 and $475,110) 631,171 607,964 Equity method - fair value option 38,281 20,907 Equity method - other 11,638 11,908 Equity investments 9,785 12,072 Total investments $ 5,530,841 $ 5,329,868 Three Months Ended March 31, 2023 2022 Net gains (losses) from investment activities Net gains of equity method investments, fair value option $ 17,375 $ 7,888 Net (losses) gains of equity method investments - other (271) 228 Net losses from equity investments (2,288) (1,473) Total net gains from investment activities $ 14,816 $ 6,643

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Net Gains Recognized on Derivative Instruments	The following are net (losses) gains recognized on derivative instruments of Public SPACs (in thousands): Three Months Ended March 31, 2023 2022 Unrealized (losses) gains, net on public warrants $ (750) $ 3,682 Unrealized losses, net on forward purchase agreements — (1,025) Net (losses) gains on derivative instruments $ (750) $ 2,657

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Summary of Valuation of Financial Assets and Liabilities	The following tables summarize the valuation of the Company’s Level I financial assets and liabilities that fall within the fair value hierarchy (in thousands): March 31, 2023 December 31, 2022 Assets Equity method investments - fair value option $ 38,281 $ 20,907 Equity investments 9,785 12,072 Total assets $ 48,066 $ 32,979 Liabilities Liabilities of consolidated Public SPACs: Public warrants $ 1,417 $ 667 Total liabilities $ 1,417 $ 667
Summary of Changes in Fair Value of Financial Instruments	The following tables summarize the changes in the fair value of financial instruments for which the Company has used Level III inputs to determine fair value (in thousands): Three Months Ended March 31, 2023 2022 Derivative liabilities Balance, beginning of period $ — $ 1,386 Unrealized losses, net — 1,025 Balance, end of period $ — $ 2,411
Summary of Changes in Fair Value of Financial Instruments	The following tables summarize the changes in the fair value of financial instruments for which the Company has used Level III inputs to determine fair value (in thousands): Three Months Ended March 31, 2023 2022 Derivative liabilities Balance, beginning of period $ — $ 1,386 Unrealized losses, net — 1,025 Balance, end of period $ — $ 2,411

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The assets and liabilities recognized in the Company’s Condensed Consolidated Statements of Financial Condition related to its interest in these non-consolidated VIEs and its maximum exposure to loss relating to non-consolidated VIEs were as follows (in thousands): March 31, 2023 December 31, 2022 Investments (includes assets pledged of $488,655 and $475,110) $ 5,471,137 $ 5,284,981 Due from affiliates 88,687 88,847 VIE-related assets 5,559,824 5,373,828 Potential clawback obligation 1,861,049 1,869,395 Due to affiliates 83,578 47,572 Maximum exposure to loss $ 7,504,451 $ 7,290,795 The following table depicts the total assets and liabilities related to VIE securitization transactions included in the Company’s Condensed Consolidated Statements of Financial Condition (in thousands): March 31, 2023 December 31, 2022 Cash and cash equivalents $ 44,515 $ 33,612 Restricted cash 13,277 13,166 Participation rights receivable (a) 488,655 475,110 Due from affiliates 1,039 436 Total assets $ 547,486 $ 522,324 Accrued interest $ 3,450 $ 191 Due to affiliates and other 588 280 Secured borrowings, net 245,336 245,259 Total liabilities $ 249,374 $ 245,730 _______________ (a) Participation rights receivable related to VIE securitization transactions are included in investments in the Company’s Condensed Consolidated Statements of Financial Condition .

Debt Obligations (Tables)

Debt Obligations (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table summarizes the Company’s and its subsidiaries’ debt obligations (in thousands): As of March 31, 2023 As of December 31, 2022 Debt Origination Date Maturity Date Borrowing Capacity Carrying Value Interest Rate Carrying Value Interest Rate Senior Unsecured Revolving Credit Facility (a) March 2011 July 2027 $ 700,000 $ — 5.90 % $ — 5.46 % Subordinated Credit Facility (b) August 2014 August 2024 30,000 — 7.15 % — 6.71 % Senior Unsecured Term Loan (c) December 2021 December 2024 200,000 199,397 5.90 % 199,307 5.46 % Secured Borrowings - Tranche A (d) May 2018 June 2038 200,000 196,248 5.33 % 196,186 5.33 % Secured Borrowings - Tranche B (d) October 2019 June 2038 50,000 49,088 4.75 % 49,073 4.75 % Total debt obligations $ 1,180,000 $ 444,733 $ 444,566 _______________ (a) In July 2022, TPG Operating Group II, L.P., as borrower, entered into a fifth amendment and restatement of its senior unsecured revolving credit facility (the “Amended Senior Unsecured Revolving Credit Facility”) to among other things, (i) extend the maturity date of the revolving credit facility from November 2025 to July 2027, (ii) increase the aggregate revolving commitments thereunder from $300.0 million to $700.0 million and (iii) replace the London Interbank Offered Rate (“LIBOR”) as the applicable reference rate with the Secured Overnight Financing Rate (“SOFR”) and otherwise conform the credit facility to accommodate SOFR as the reference rate. Dollar-denominated principal amounts outstanding under the Amended Senior Unsecured Revolving Credit Facility accrue interest, at the option of the applicable borrower, either (i) at a base rate plus applicable margin not to exceed 0.25% per annum or (ii) at a term SOFR rate plus a 0.10% per annum adjustment and an applicable margin not to exceed 1.25%. The Company is also required to pay a quarterly commitment fee on the unused commitments under the Amended Senior Unsecured Revolving Credit Facility not to exceed 0.15% per annum, as well as certain customary fees for any issued letters of credit. In August 2022, the Company entered into a first amendment to the Amended Senior Unsecured Revolving Credit Facility, which provides that if the Company is not publicly rated, the applicable margin for borrowings under the facility may be determined using the Company’s leverage ratio. (b) A consolidated subsidiary of the Company entered into two $15.0 million subordinated revolving credit facilities (collectively, the “Subordinated Credit Facility”), for a total commitment of $30.0 million. The Subordinated Credit Facility is available for direct borrowings and is guaranteed by certain members of the TPG Operating Group. In August 2022, the subsidiary extended the maturity date of the Subordinated Credit Facility from August 2023 to August 2024 and replaced LIBOR as the applicable reference rate with SOFR, and otherwise conforms the agreements to accommodate SOFR as the reference rate. (c) In December 2021, the Company entered into a credit agreement (the “Senior Unsecured Term Loan Agreement”). In July 2022, the Company entered into an amended and restated term loan agreement (the “Amended Senior Unsecured Term Loan Agreement”). The Amended Senior Unsecured Term Loan Agreement, among other things, replaces LIBOR as the applicable reference rate with SOFR, and otherwise conforms the term loan agreement to accommodate SOFR as the reference rate. Principal amounts outstanding under the Amended Senior Unsecured Term Loan Agreement accrue interest, at the option of the borrower, either (i) at a base rate plus an applicable margin of 0.00% or (ii) at a term SOFR rate plus a 0.10% per annum adjustment and an applicable margin of 1.00%. Note 7

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Due from affiliates and due to affiliates consist of the following (in thousands): March 31, 2023 December 31, 2022 Portfolio companies $ 58,189 $ 57,492 Partners and employees 2,535 2,270 Other related entities 43,731 54,030 Unconsolidated VIEs 88,687 88,847 Due from affiliates $ 193,142 $ 202,639 Portfolio companies $ 8,811 $ 10,367 Partners and employees 60,892 60,309 Other related entities 79,534 21,615 Unconsolidated VIEs 83,578 47,572 Due to affiliates $ 232,815 $ 139,863

Operating Leases (Tables)

Operating Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Summary of Components of Lease Expense and Supplemental Consolidated Statement of Cash Flow Information	The components of lease expense were as follows (in thousands): Three Months Ended March 31, 2023 2022 Lease cost (a) : Operating lease cost $ 6,631 $ 6,476 Short-term lease costs 133 205 Variable lease cost 1,791 1,171 Sublease income (816) (1,532) Total lease cost $ 7,739 $ 6,320 Weighted-average remaining lease term 6.7 7.2 Weighted-average discount rate 4.16 % 4.09 % ___________ (a) Office rent expense for the three months ended March 31, 2023 and 2022 was $6.6 million and $6.4 million, respectively. Supplemental Condensed Consolidated Statements of Cash Flows information related to leases were as follows (in thousands): Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities $ 7,523 $ 6,667 Non-cash right-of-use assets obtained in exchange for new operating lease liabilities 216 2,124 Non-cash right-of-use assets and lease liability termination — (13,554)
Summary of Undiscounted Cash Flows of Operating Leases on an Annual Basis	The following table shows the undiscounted cash flows on an annual basis for operating lease liabilities as of March 31, 2023 (in thousands): Year Due Lease Amount Remainder of 2023 $ 13,464 2024 24,002 2025 28,098 2026 19,971 2027 18,556 Thereafter 63,362 Total future undiscounted operating lease payments 167,453 Less: imputed interest (25,284) Present value of operating lease liabilities $ 142,169

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Guarantor Obligations	At March 31, 2023, the guarantees had expiration dates as follows (in thousands): Maturity Date Guarantee Amount August 2024 $ 30,000 December 2024 200,000 June 2026 60,000 December 2026 105,363 July 2027 700,000 June 2030 35,784 Total $ 1,131,147

Net Income (Loss) Per Class A_2

Net Income (Loss) Per Class A Common Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method	The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted net income (loss) per share of Class A common stock (in thousands, except share and per share data): Three Months Ended March 31, 2023 2022 Numerator: Net income $ 35,674 $ 162,804 Less: Net loss attributable to redeemable equity in Public SPACs prior to IPO — (517) Net income attributable to other non-controlling interests prior to Reorganization and IPO — 966 Net income attributable to TPG Group Holdings prior to Reorganization and IPO — 5,256 Net income subsequent to IPO 35,674 157,099 Less: Net income attributable to participating securities — 4,770 Net income attributable to redeemable equity in Public SPACs subsequent to IPO 1,529 1,823 Net loss attributable to non-controlling interests in TPG Operating Group subsequent to IPO (25,492) (9,721) Net income attributable to other non-controlling interests subsequent to IPO 34,582 118,904 Net income attributable to Class A Common Stockholders prior to distributions 25,055 41,323 Reallocation of earnings to unvested participating restricted stock units (3,888) — Net income attributable to Class A Common Stockholders - Basic 21,167 41,323 Net loss attributable to non-controlling interests in TPG Operating Group subsequent to IPO — (8,095) Net loss assuming exchange of non-controlling interest (23,424) — Reallocation of income from participating securities assuming exchange of Common Units — 1,093 Net (loss) income attributable to Class A Common Stockholders - Diluted $ (2,257) $ 34,321 Denominator: Weighted-Average Shares of Common Stock Outstanding - Basic 79,499,319 79,240,057 Exchange of Common Units to Class A Common Stock 229,641,530 229,652,641 Weighted-Average Shares of Common Stock Outstanding - Diluted 309,140,849 308,892,698 Net income (loss) available to Class A common stock per share Basic $ 0.27 $ 0.52 Diluted $ (0.01) $ 0.11 Dividends declared per share of Class A Common Stock (a) $ 0.50 $ — ___________ (a) Dividends declared reflects the calendar date of the declaration for each distribution.

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	The following table summarizes the outstanding restricted stock unit awards as of March 31, 2023 (in millions, including share data): Units Outstanding as of Compensation Expense for the three months ended March 31, 2023 Compensation Expense for the three months ended March 31, 2022 Unrecognized Compensation Expense as of March 31, 2023 Restricted Stock Units IPO Service-Vesting Awards 8.8 $ 14.5 $ 18.0 $ 195.6 IPO Executive Service-Vesting Awards 1.1 1.6 1.4 24.6 IPO Executive Performance Condition Awards 1.1 1.3 1.1 11.7 Ordinary Service-Vesting Awards 4.4 10.0 — 132.3 Ordinary Performance-Vesting Awards 0.1 0.2 — 2.8 Total Restricted Stock Units 15.5 $ 27.6 $ 20.5 $ 367.0 The following table summarizes the outstanding Other Awards as of March 31, 2023 (in millions, including share data): Unvested Units/Shares Outstanding as of Compensation Expense for the three months ended March 31, 2023 Compensation Expense for the three months ended March 31, 2022 Unrecognized Compensation Expense as of March 31, 2023 TPH and RPH Units TPH units 50.3 $ 100.6 $ 141.8 $ 1,107.4 RPH units 0.4 19.2 18.8 187.9 Total TPH and RPH Units 50.7 $ 119.8 $ 160.6 $ 1,295.3 TOG Units and Class A Common Stock TOG Common Units 1.8 $ 3.6 $ 5.5 $ 32.8 Class A Common Stock 1.2 4.4 3.8 30.8 Total TOG Units and Class A Common Stock 3.0 $ 8.0 $ 9.3 $ 63.6
Schedule of Nonvested Share Activity	The following table presents the rollforward of the Company’s unvested Service-Vesting Awards for the three months ended March 31, 2023 (awards in millions): Service-Vesting Awards Weighted-Average Grant Date Fair Value Balance at December 31, 2022 10.1 $ 29.41 Granted 3.7 34.29 Vested, settled (0.4) 29.73 Forfeited (0.2) 29.25 Balance at March 31, 2023 13.2 $ 30.78 The following table presents the rollforwards of the Company’s unvested Executive Awards for the three months ended March 31, 2023 (awards in millions): Executive Service-Vesting Awards Grant Date Fair Value Executive Performance Condition Awards Weighted Average Grant Date Fair Value Balance at December 31, 2022 1.1 $ 29.50 1.1 $ 16.58 Granted — — — — Vested — — — — Forfeited — — — — Balance at March 31, 2023 1.1 $ 29.50 1.1 $ 16.58 The following table presents the rollforwards of the Company’s unvested TPH Units and RPH Units for the three months ended March 31, 2023 (units in millions): TPH Units RPH Units Partnership Units Grant Date Fair Value Partnership Units Grant Date Fair Value Balance at December 31, 2022 50.3 $ 24.38 0.4 $ 457.10 Reallocated 0.7 28.41 — — Vested — — — — Forfeited (0.7) 24.79 — — Balance at March 31, 2023 50.3 $ 24.43 0.4 $ 457.10 The following table presents the rollforwards of the Company’s unvested Other IPO Related Awards for the three months ended March 31, 2023 (awards in millions): TOG Units Class A Common Stock Partnership Units Grant Date Fair Value Partnership Units Grant Date Fair Value Balance at December 31, 2022 2.2 $ 27.29 1.7 $ 29.50 Granted — — — — Vested (0.4) 27.29 (0.5) 29.50 Forfeited — — — — Balance at March 31, 2023 1.8 $ 27.29 1.2 $ 29.50

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Dividends Declared	Date Declared Record Date Payment date Dividend per Class A Common Share May 10, 2022 May 20, 2022 June 3, 2022 $ 0.44 August 9, 2022 August 19, 2022 September 2, 2022 0.39 November 9, 2022 November 21, 2022 December 2, 2022 0.26 February 15, 2023 February 27, 2023 March 10, 2023 0.50 Total 2022 Dividend Year $ 1.59 May 15, 2023 May 25, 2023 June 5, 2023 $ 0.20 Total 2023 Dividend Year (through Q1 2023) $ 0.20

Organization - Narrative (Detai

Organization - Narrative (Details) $ / shares in Units, $ in Thousands			2 Months Ended	11 Months Ended
	Feb. 09, 2022 USD ($) shares	Jan. 12, 2022 USD ($) $ / shares shares	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) shares	Mar. 31, 2023 holdingCompany shares
Subsidiary, Sale of Stock [Line Items]
Number of entities | holdingCompany					3
Repurchase common units of TOG Operating Group | $			$ 379,597	$ 379,600
TPG Operating Group
Subsidiary, Sale of Stock [Line Items]
Noncontrolling interest, ownership percentage by parent					26%
IPO
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		33,900,000
Sale of stock, price per share (in usd per share) | $ / shares		$ 29.50
Sale of stock, consideration received on transaction | $		$ 770,900
Underwriting discounts and commissions | $		41,800
Payments of underwriting and offering costs | $		$ 22,500
IPO | Non-Controlling Interest Holder Of TPG Operating Group
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		5,589,806
Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Sale of stock, consideration received on transaction | $	$ 49,800
Class A Common Stock
Subsidiary, Sale of Stock [Line Items]
Common shares outstanding				79,240,058	80,492,727
Class A Common Stock | IPO
Subsidiary, Sale of Stock [Line Items]
Ownership interests exchanged, number of shares issued (in shares)		35,136,254
Class A Common Stock | Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	1,775,410
Common shares outstanding	70,811,664
Class A Common Stock | Over-Allotment Option | Non-Controlling Interest Holder Of TPG Operating Group
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	1,614,590
Nonvoting Common Stock | IPO
Subsidiary, Sale of Stock [Line Items]
Ownership interests exchanged, number of shares issued (in shares)		8,258,901
Nonvoting Common Stock | Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Common shares outstanding	8,258,901

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Total fees and other	$ 311,471	$ 273,005
Performance allocations	315,707	799,958
Capital interests	15,967	37,747
Total capital allocation-based income	331,674	837,705
Total revenues	643,145	1,110,710
Management fees
Disaggregation of Revenue [Line Items]
Total fees and other	250,559	204,808
Fee credits
Disaggregation of Revenue [Line Items]
Total fees and other	(559)	(8,328)
Monitoring fees
Disaggregation of Revenue [Line Items]
Total fees and other	2,756	4,001
Transaction fees
Disaggregation of Revenue [Line Items]
Total fees and other	2,473	29,209
Expense reimbursements and other
Disaggregation of Revenue [Line Items]
Total fees and other	$ 56,242	$ 43,315

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Narrative (Details) - $ / shares	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Class A Common Stock
Contractually Specified Servicing Fees, Late Fees, and Ancillary Fees Earned in Exchange for Servicing Financial Assets [Line Items]
Common stock, par or stated value per share (in usd per share)	$ 0.001	$ 0.001
Minimum
Contractually Specified Servicing Fees, Late Fees, and Ancillary Fees Earned in Exchange for Servicing Financial Assets [Line Items]
Management fee, percentage	0.25%
Estimated useful life	5 years
Remaining lease term	1 year
Renewal term	2 years
Maximum
Contractually Specified Servicing Fees, Late Fees, and Ancillary Fees Earned in Exchange for Servicing Financial Assets [Line Items]
Management fee, percentage	2%
Estimated useful life	12 years
Remaining lease term	10 years
Renewal term	10 years
TPG Funds | Minimum
Contractually Specified Servicing Fees, Late Fees, and Ancillary Fees Earned in Exchange for Servicing Financial Assets [Line Items]
Management fee, percentage	0.50%
TPG Funds | Maximum
Contractually Specified Servicing Fees, Late Fees, and Ancillary Fees Earned in Exchange for Servicing Financial Assets [Line Items]
Management fee, percentage	2%
YTPG | Class A Common Stock
Contractually Specified Servicing Fees, Late Fees, and Ancillary Fees Earned in Exchange for Servicing Financial Assets [Line Items]
Common stock, par or stated value per share (in usd per share)	$ 0.0001

Acquisition - Narrative (Detail

Acquisition - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended
	Jan. 31, 2022	Mar. 31, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Acquisition of NewQuest		$ 0
NewQuest Holdings (Cayman) Limited
Business Acquisition [Line Items]
Business acquisition, percentage of voting interests acquired	33.30%		33.30%
Award service period	3 years
Award vesting period	3 years
Acquisition of NewQuest	$ 33,600
NewQuest Holdings (Cayman) Limited | Common Units
Business Acquisition [Line Items]
Equity interest issued in the business acquisition (in shares)	1,072,998
NewQuest Holdings (Cayman) Limited | Class A Common Stock
Business Acquisition [Line Items]
Equity interest issued in the business acquisition (in shares)	1,638,866

Investments - Summary of Invest

Investments - Summary of Investments (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Equity Securities without Readily Determinable Fair Value [Line Items]
Equity method - fair value option		$ 38,281	$ 20,907
Equity investments		9,785	12,072
Total investments	[1]	5,530,841	5,329,868
Variable Interest Entity, Primary Beneficiary
Equity Securities without Readily Determinable Fair Value [Line Items]
Proceeds receivable on sale of investments		488,655	475,110
Equity method - performance allocations
Equity Securities without Readily Determinable Fair Value [Line Items]
Proceeds receivable on sale of investments		4,839,966	4,677,017
Equity method - capital interests
Equity Securities without Readily Determinable Fair Value [Line Items]
Proceeds receivable on sale of investments		631,171	607,964
Equity method - other
Equity Securities without Readily Determinable Fair Value [Line Items]
Proceeds receivable on sale of investments		$ 11,638	$ 11,908
[1]The Company’s consolidated total assets and liabilities as of March 31, 2023 and December 31, 2022 include assets and liabilities of variable interest entities (“VIEs”). The 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. These amounts include the assets and liabilities of consolidated Public SPACs, restricted cash, assets pledged of securitization vehicles, secured borrowings of securitization vehicles, and redeemable equity of consolidated Public SPACs. See Notes 2, 7 and 8 to the Condensed Consolidated Financial Statements

Investments - Summary of Net Ga

Investments - Summary of Net Gains (Losses) from Investment Activities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net (losses) gains from investment activities
Net gains of equity method investments, fair value option	$ 17,375	$ 7,888
Net (losses) gains of equity method investments - other	(271)	228
Net losses from equity investments	(2,288)	(1,473)
Total net (losses) gains from investment activities	$ 14,816	$ 6,643

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Sep. 20, 2021
Equity Securities without Readily Determinable Fair Value [Line Items]
Number of securities called by each warrant or earnout shares (in shares)	1
Class of warrants or earnout share contingency period				5 years
Equity securities without readily determinable fair value, impairment loss, annual amount	$ 0	$ 0
Equity investments	$ 9,785,000		$ 12,072,000
Nerdy Inc
Equity Securities without Readily Determinable Fair Value [Line Items]
Number of securities called by each warrant or earnout shares (in shares)	1
Fair Value, Recurring
Equity Securities without Readily Determinable Fair Value [Line Items]
Equity method investments - fair value option	$ 38,300,000		$ 20,900,000
Earnout Warrants | Nerdy Inc
Equity Securities without Readily Determinable Fair Value [Line Items]
Exercise price of warrants or earnout shares (in usd per share)	$ 11.50
Class A Common Stock
Equity Securities without Readily Determinable Fair Value [Line Items]
Common shares outstanding	80,492,727		79,240,058
Nerdy Inc | Earnout Shares
Equity Securities without Readily Determinable Fair Value [Line Items]
Class of warrant or earnout shares, outstanding (in shares)	4,000,000
Nerdy Inc | Earnout Warrants
Equity Securities without Readily Determinable Fair Value [Line Items]
Class of warrant or earnout shares, outstanding (in shares)	4,900,000
Nerdy Inc | Class A Common Stock
Equity Securities without Readily Determinable Fair Value [Line Items]
Common shares outstanding	7,700,000
Nerdy Inc
Equity Securities without Readily Determinable Fair Value [Line Items]
Equity method investment, ownership percentage	8.90%		9%

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($)		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Variable Interest Entity [Line Items]
Derivative liability, fair value of collateral		$ 0		$ 0
Foreign Private Agreements
Variable Interest Entity [Line Items]
Derivative liabilities		0		0
Warrant
Variable Interest Entity [Line Items]
Derivative liabilities		1,400,000		700,000
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Derivative liabilities	[1]	1,417,000		$ 667,000
Unrealized gains (losses) on derivative liabilities of Public SPACs		$ (800,000)	$ 2,700,000
[1]The Company’s consolidated total assets and liabilities as of March 31, 2023 and December 31, 2022 include assets and liabilities of variable interest entities (“VIEs”). The 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. These amounts include the assets and liabilities of consolidated Public SPACs, restricted cash, assets pledged of securitization vehicles, secured borrowings of securitization vehicles, and redeemable equity of consolidated Public SPACs. See Notes 2, 7 and 8 to the Condensed Consolidated Financial Statements

Derivative Instruments - Net Ga

Derivative Instruments - Net Gains Recognized on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative [Line Items]
Net (losses) gains on derivative instruments	$ (750)	$ 2,657
Variable Interest Entity, Not Primary Beneficiary
Derivative [Line Items]
Unrealized gains (losses) on derivatives	(800)	2,700
Public warrants | Variable Interest Entity, Not Primary Beneficiary
Derivative [Line Items]
Unrealized gains (losses) on derivatives	(750)	3,682
Unrealized losses, net on forward purchase agreements | Variable Interest Entity, Not Primary Beneficiary
Derivative [Line Items]
Unrealized gains (losses) on derivatives	$ 0	$ (1,025)

Fair Value Measurement - Summar

Fair Value Measurement - Summary of Valuation of Financial Assets and Liabilities (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Assets
Equity investments	$ 9,785,000	$ 12,072,000
Fair Value, Recurring
Assets
Equity method investments - fair value option	38,300,000	20,900,000
Fair Value, Recurring | Fair Value, Inputs, Level 1
Assets
Equity method investments - fair value option	38,281,000	20,907,000
Equity investments	9,785,000	12,072,000
Total assets	48,066,000	32,979,000
Liabilities
Total liabilities	1,417,000	667,000
Fair Value, Recurring | Fair Value, Inputs, Level 1 | Public warrants
Liabilities
Derivative liabilities	1,417,000	667,000
Fair Value, Recurring | Fair Value, Inputs, Level 2
Assets
Total assets	0	0
Liabilities
Total liabilities	$ 0	$ 0

Fair Value Measurement - Summ_2

Fair Value Measurement - Summary of Changes in Fair Value of Financial Liabilities (Details) - Derivative - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 0	$ 1,386
Unrealized losses, net	0	1,025
Balance, end of period	$ 0	$ 2,411

Fair Value Measurement - Narrat

Fair Value Measurement - Narrative (Details) - Fair Value, Recurring - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value disclosure	$ 0	$ 0
Financial liabilities fair value disclosure	0	0
Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value disclosure	0	0
Financial liabilities fair value disclosure	$ 0	$ 0

Variable Interest Entities - As

Variable Interest Entities - Assets and Liabilities Recognized (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Investments	[1]	$ 5,530,841	$ 5,329,868
Due from affiliates		193,142	202,639
Potential clawback obligation		1,861,000
Due to affiliates		232,815	139,863
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Investments		5,471,137	5,284,981
Due from affiliates		88,687	88,847
VIE-related assets		5,559,824	5,373,828
Potential clawback obligation		1,861,049	1,869,395
Due to affiliates		83,578	47,572
Maximum exposure to loss		7,504,451	7,290,795
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Due from affiliates		1,039	436
Due to affiliates		$ 588	$ 280
[1]The Company’s consolidated total assets and liabilities as of March 31, 2023 and December 31, 2022 include assets and liabilities of variable interest entities (“VIEs”). The 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. These amounts include the assets and liabilities of consolidated Public SPACs, restricted cash, assets pledged of securitization vehicles, secured borrowings of securitization vehicles, and redeemable equity of consolidated Public SPACs. See Notes 2, 7 and 8 to the Condensed Consolidated Financial Statements

Variable Interest Entities - Na

Variable Interest Entities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Secured Debt | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Long-term debt	$ 4.7	$ 4.7
Tranche A | Secured Debt
Variable Interest Entity [Line Items]
Aggregate principal balance	250
Secured Notes | Secured Debt
Variable Interest Entity [Line Items]
Aggregate principal balance	$ 245.3	$ 245.3
Annual Administration | Affiliated Entity
Variable Interest Entity [Line Items]
Related party transaction, rate	1%

Variable Interest Entities - _2

Variable Interest Entities - Assets and Liabilities Related to VIE Securitization Transactions (Details) - USD ($) $ in Thousands		Mar. 31, 2023		Dec. 31, 2022		Mar. 31, 2022
Variable Interest Entity [Line Items]
Cash and cash equivalents		$ 931,946				$ 1,454,619
Restricted cash		13,277	[1]	$ 13,166	[1]	$ 13,135
Due from affiliates		193,142		202,639
Total assets		7,967,322		7,941,738
Accrued interest		149,751		98,171
Due to affiliates		232,815		139,863
Secured borrowings, net	[1]	444,733		444,566
Total liabilities		4,309,531		4,202,232
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Cash and cash equivalents		44,515		33,612
Restricted cash		13,277		13,166
Participation rights receivable		488,655		475,110
Due from affiliates		1,039		436
Total assets		547,486		522,324
Accrued interest		3,450		191
Due to affiliates		588		280
Secured borrowings, net		245,336		245,259
Total liabilities		$ 249,374		$ 245,730
[1]The Company’s consolidated total assets and liabilities as of March 31, 2023 and December 31, 2022 include assets and liabilities of variable interest entities (“VIEs”). The 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. These amounts include the assets and liabilities of consolidated Public SPACs, restricted cash, assets pledged of securitization vehicles, secured borrowings of securitization vehicles, and redeemable equity of consolidated Public SPACs. See Notes 2, 7 and 8 to the Condensed Consolidated Financial Statements

Debt Obligations - Schedule of

Debt Obligations - Schedule of Debt (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Aug. 31, 2014 USD ($) creditFacility	Mar. 31, 2023 USD ($) tranche	Dec. 31, 2022 USD ($)	Jul. 31, 2022 USD ($)	Jul. 01, 2021 USD ($)
Debt Instrument, Redemption [Line Items]
Number of tranches | tranche		2
Line of Credit
Debt Instrument, Redemption [Line Items]
Borrowing Capacity		$ 1,180,000
Secured Debt
Debt Instrument, Redemption [Line Items]
Carrying Value		$ 444,733	$ 444,566
Debt instrument, call option, interest rate, percentage		4%
Senior Unsecured Revolving Credit Facility | Line of Credit
Debt Instrument, Redemption [Line Items]
Borrowing Capacity		$ 700,000
Carrying Value		$ 0	$ 0
Interest Rate		5.90%	5.46%
Subordinated Credit Facility | Line of Credit
Debt Instrument, Redemption [Line Items]
Borrowing Capacity		$ 30,000
Carrying Value		$ 0	$ 0
Interest Rate		7.15%	6.71%
Senior Unsecured Term Loan Agreement | Line of Credit
Debt Instrument, Redemption [Line Items]
Borrowing Capacity		$ 200,000
Carrying Value		$ 199,397	$ 199,307
Interest Rate		5.90%	5.46%
Secured Borrowings - Tranche A | Secured Debt
Debt Instrument, Redemption [Line Items]
Borrowing Capacity		$ 200,000
Carrying Value		$ 196,248	$ 196,186
Interest Rate		5.33%	5.33%
Secured Borrowings - Tranche B | Secured Debt
Debt Instrument, Redemption [Line Items]
Borrowing Capacity		$ 50,000
Carrying Value		$ 49,088	$ 49,073
Interest Rate		4.75%	4.75%
Revolving Credit Facility | Senior Unsecured Revolving Credit Facility | Line of Credit
Debt Instrument, Redemption [Line Items]
Borrowing Capacity				$ 700,000	$ 300,000
Revolving Credit Facility | Senior Unsecured Revolving Credit Facility | Line of Credit | Base Rate | Maximum
Debt Instrument, Redemption [Line Items]
Debt instrument, basis spread on variable rate		0.25%
Line of credit facility, commitment fee percentage		0.15%
Revolving Credit Facility | Senior Unsecured Revolving Credit Facility | Line of Credit | Secured Overnight Financing Rate (SOFR) | Maximum
Debt Instrument, Redemption [Line Items]
Debt instrument, basis spread on variable rate		1.25%
Debt instrument, basis spread on variable rate, per annum adjustment		0.10%
Revolving Credit Facility | Subordinated Credit Facility | Subordinated Debt
Debt Instrument, Redemption [Line Items]
Borrowing Capacity	$ 30,000
Number of credit facilities | creditFacility	2
Revolving Credit Facility | Subordinated Credit Facility Two | Subordinated Debt
Debt Instrument, Redemption [Line Items]
Borrowing Capacity	$ 15,000
Revolving Credit Facility | Subordinated Credit Facility One | Subordinated Debt
Debt Instrument, Redemption [Line Items]
Borrowing Capacity	$ 15,000
Term Loans | Senior Unsecured Term Loan Agreement | Secured Overnight Financing Rate (SOFR)
Debt Instrument, Redemption [Line Items]
Debt instrument, basis spread on variable rate		1%
Term Loans | Senior Unsecured Term Loan Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR)
Debt Instrument, Redemption [Line Items]
Debt instrument, basis spread on variable rate		0%
Debt instrument, basis spread on variable rate, per annum adjustment		0.10%

Debt Obligations - Narrative (D

Debt Obligations - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
	Apr. 14, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Line of Credit Facility [Line Items]
Interest expense, debt		$ 6,200	$ 4,000
Line of Credit
Line of Credit Facility [Line Items]
Borrowing Capacity		1,180,000
Line of Credit | Revolving Credit Facility | Subsequent Event | 364-Day Credit Facility
Line of Credit Facility [Line Items]
Borrowing Capacity	$ 150,000
Debt Instrument, Term	364 days
Estimate of Fair Value Measurement | Unsecured Debt
Line of Credit Facility [Line Items]
Long-term debt, fair value		199,300		$ 199,200
Estimate of Fair Value Measurement | Secured Debt
Line of Credit Facility [Line Items]
Long-term debt, fair value		237,400		231,500
Carrying Amount | Secured Debt
Line of Credit Facility [Line Items]
Long-term debt, fair value		$ 250,000		$ 250,000

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Deferred tax assets, net before valuation allowance	$ 118.1
Deferred tax assets, valuation allowance	79.9
Deferred tax assets, net	38.2
Taxes payable	$ 26.4
Effective income tax rate reconciliation, percent	25.30%	8.40%

Related Party Transactions - Du

Related Party Transactions - Due from Affiliates and Due to Affiliates (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Due from Related Parties, Unclassified [Abstract]
Due from affiliates	$ 193,142	$ 202,639
Due to Related Parties [Abstract]
Due to affiliates	232,815	139,863
Portfolio companies
Due from Related Parties, Unclassified [Abstract]
Due from affiliates	58,189	57,492
Due to Related Parties [Abstract]
Due to affiliates	8,811	10,367
Partners and employees
Due from Related Parties, Unclassified [Abstract]
Due from affiliates	2,535	2,270
Due to Related Parties [Abstract]
Due to affiliates	60,892	60,309
Other related entities
Due from Related Parties, Unclassified [Abstract]
Due from affiliates	43,731	54,030
Due to Related Parties [Abstract]
Due to affiliates	79,534	21,615
Unconsolidated VIEs
Due from Related Parties, Unclassified [Abstract]
Due from affiliates	88,687	88,847
Due to Related Parties [Abstract]
Due to affiliates	$ 83,578	$ 47,572

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended			3 Months Ended
	Jan. 12, 2022	Jan. 31, 2022	Aug. 31, 2021	Apr. 30, 2021	Mar. 31, 2023	Mar. 31, 2022	Apr. 17, 2023	Dec. 31, 2022	Oct. 31, 2020
Related Party Transaction [Line Items]
Notes receivable, related parties					$ 1.6			$ 1.6
Interest, dividends and other					$ 0.1	$ 0.1
Non-cash right-of-use assets and lease liability termination		$ 13.6
Number of securities called by each warrant or earnout shares (in shares)					1
Class A Common Stock
Related Party Transaction [Line Items]
Common stock, par or stated value per share (in usd per share)					$ 0.001			$ 0.001
AFTR | Class A Common Stock
Related Party Transaction [Line Items]
Number of securities called by each warrant or earnout shares (in shares)			1
YTPG
Related Party Transaction [Line Items]
Assets held in Trust Accounts					$ 400
YTPG | Unrealized losses, net on forward purchase agreements
Related Party Transaction [Line Items]
Derivative, notional amount				$ 175
Due to related parties				$ 24.9
YTPG | Class A Common Stock
Related Party Transaction [Line Items]
Number of securities called by each warrant or earnout shares (in shares)				1
YTPG | Series A Preferred Stock | Subsequent Event
Related Party Transaction [Line Items]
Preferred stock, redemption price per share (in usd per share)							$ 10
IPO
Related Party Transaction [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	33,900,000
Sale of stock, price per share (in usd per share)	$ 29.50
Sale of stock, consideration received on transaction	$ 770.9
IPO | AFTR
Related Party Transaction [Line Items]
Common stock, par or stated value per share (in usd per share)			$ 0.0001
IPO | YTPG
Related Party Transaction [Line Items]
Common stock, par or stated value per share (in usd per share)				$ 0.0001
Units | IPO | AFTR
Related Party Transaction [Line Items]
Sale of stock, number of shares issued in transaction (in shares)			25,000,000
Sale of stock, price per share (in usd per share)			$ 10
Sale of stock, consideration received on transaction			$ 250
Units | IPO | YTPG
Related Party Transaction [Line Items]
Sale of stock, number of shares issued in transaction (in shares)				40,000,000
Sale of stock, price per share (in usd per share)				$ 10
Sale of stock, consideration received on transaction				$ 400
Warrant | AFTR
Related Party Transaction [Line Items]
Number of securities called by each warrant or earnout shares (in shares)			0.3333
Warrant | TPGY
Related Party Transaction [Line Items]
Number of securities called by each warrant or earnout shares (in shares)									0.2
Related Party Investments | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction					$ 13.1	30.8
Annual Administration | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, rate					1%
Revenue from related parties					$ 4.6	5.1
Other Related Party Transactions | Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction					7.4	5.5
Revenue from related parties					$ 8.9	$ 7.4

Operating Leases - Components o

Operating Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Lease cost (a):
Operating lease cost	$ 6,631	$ 6,476
Short-term lease costs	133	205
Variable lease cost	1,791	1,171
Sublease income	(816)	(1,532)
Total lease cost	$ 7,739	$ 6,320
Weighted-average remaining lease term	6 years 8 months 12 days	7 years 2 months 12 days
Weighted-average discount rate	4.16%	4.09%
Operating lease, expense	$ 6,600	$ 6,400

Operating Leases - Cash Flows I

Operating Leases - Cash Flows Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 7,523	$ 6,667
Non-cash right-of-use assets obtained in exchange for new operating lease liabilities	216	2,124
Non-cash right-of-use assets and lease liability termination	$ 0	$ (13,554)

Operating Leases - Annual Undis

Operating Leases - Annual Undiscounted Cash Flows (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Leases [Abstract]
Remainder of 2023	$ 13,464
2024	24,002
2025	28,098
2026	19,971
2027	18,556
Thereafter	63,362
Total future undiscounted operating lease payments	167,453
Less: imputed interest	(25,284)
Present value of operating lease liabilities	$ 142,169
Operating lease, liability, statement of financial position	Other liabilities

Commitment and Contingencies -

Commitment and Contingencies - Narrative (Details)	1 Months Ended	3 Months Ended
	Feb. 28, 2018 USD ($)	Mar. 31, 2023 USD ($) partner individual	Dec. 31, 2022 USD ($)
Loss Contingencies [Line Items]
Maximum obligations guaranteed		$ 1,131,147,000	$ 1,120,800,000
Amount of debt on obligations related to the guarantees		276,700,000	$ 327,800,000
Letters of credit outstanding		500,000
Unfunded capital commitments		150,100,000
Unfunded investment commitments		339,300,000
Potential clawback, net of tax		58,300,000
Potential clawback obligation		1,861,000,000
Contractual obligations, clawback liability payments		$ 0
Number of partners | partner		2
Number of individuals | individual		2
TPG and Apax-Related Parties
Loss Contingencies [Line Items]
Litigation settlement, amount awarded from other party	$ 9,500,000
TPG
Loss Contingencies [Line Items]
Litigation settlement, amount awarded from other party	$ 3,400,000

Commitment and Contingencies _2

Commitment and Contingencies - Guarantees (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Guarantor Obligations [Line Items]
Maximum obligations guaranteed	$ 1,131,147	$ 1,120,800
August 2024
Guarantor Obligations [Line Items]
Maximum obligations guaranteed	30,000
December 2024
Guarantor Obligations [Line Items]
Maximum obligations guaranteed	200,000
June 2026
Guarantor Obligations [Line Items]
Maximum obligations guaranteed	60,000
December 2026
Guarantor Obligations [Line Items]
Maximum obligations guaranteed	105,363
July 2027
Guarantor Obligations [Line Items]
Maximum obligations guaranteed	700,000
June 2030
Guarantor Obligations [Line Items]
Maximum obligations guaranteed	$ 35,784

Net Income (Loss) Per Class A_3

Net Income (Loss) Per Class A Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended		13 Months Ended
	Jan. 18, 2022	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jan. 18, 2022
Numerator:
Net income		$ 157,099	$ 35,674	$ 162,804	$ 6,222
Net (loss) income attributable to redeemable equity in Public SPACs prior to Reorganization and IPO	$ (517)	1,823	1,529	1,823	(517)
Net income attributable to other non-controlling interests prior to Reorganization and IPO		118,904	34,582
Net income attributable to TPG Group Holdings prior to Reorganization and IPO	966		34,582	118,904	966
Net income attributable to TPG Group Holdings prior to Reorganization and IPO	$ 5,256				$ 5,256
Net income attributable to participating securities		4,770
Net loss attributable to non-controlling interests in TPG Operating Group subsequent to IPO		(9,721)	(25,492)
Net income attributable to Class A Common Stockholders prior to distributions		41,323	25,055
Net income attributable to Class A Common Stockholders prior to distributions		$ 0	(3,888)	(8,095)
Net income attributable to Class A Common Stockholders - Basic			21,167	41,323
Net loss assuming exchange of non-controlling interest			(23,424)	0
Reallocation of income from participating securities assuming exchange of Common Units			0	1,093
Net (loss) income attributable to Class A Common Stockholders - Diluted			$ (2,257)	$ 34,321
Denominator:
Basic (in shares)			79,499,319	79,240,057
Exchange of Common Units to Class A Common Stock (in shares)			229,641,530	229,652,641
Weighted-average shares of Class A common stock outstanding diluted (in shares)			309,140,849	308,892,698
Net income (loss) available to Class A common stock per share
Basic (in usd per share)			$ 0.27	$ 0.52
Diluted (in usd per share)			(0.01)	0.11
Dividends declared per share of Class A Common Stock (in usd per share)			$ 0.50	$ 0

Equity-Based Compensation - Nar

Equity-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands			1 Months Ended	3 Months Ended
	Jan. 06, 2023 shares	Feb. 09, 2022	Jan. 31, 2022	Mar. 31, 2023 USD ($) $ / shares shares	Mar. 31, 2022 USD ($)	Dec. 31, 2022 $ / shares	Jan. 13, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares) | shares	30,889,270						30,694,780
Number of additional shares authorized (in shares) | shares	12,797,983
Number of shares available for grant (in shares) | shares				27,383,102
Equity-based compensation				$ 157,293	$ 185,911
Management fees and compensation and benefits expense				2,600	900
Payment, tax withholding, share-based payment arrangement				$ 6,032	0
Share-based payment arrangement, shares withheld for tax withholding obligation (in shares) | shares				252,669
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation				$ 4,400	3,800
Unrecognized compensation expense				$ 30,800
NewQuest Holdings (Cayman) Limited
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Award service period			3 years
Business acquisition, percentage of voting interests acquired			33.30%			33.30%
Restricted Stock Units And Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award conversion ratio		1
Services Vesting Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares				3,700,000
Weighted average grant date fair value (in usd per share) | $ / shares				$ 30.78		$ 29.41
Vested in period (in shares) | shares				400,000
Total Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation				$ 27,600	20,500
Unrecognized compensation expense				$ 367,000
Vested in period (in shares) | shares				430,617
Vested in period, fair value				$ 14,600
Payment, tax withholding, share-based payment arrangement				6,000
Total Restricted Stock Units | General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation				700	5,400
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense				$ 327,900
Weighted average remaining requisite service period				3 years 2 months 12 days
Performance-Vesting Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares				100,000
Unrecognized compensation expense				$ 2,800
Weighted average grant date fair value (in usd per share) | $ / shares				$ 26.93
Award vesting period				2 years 10 months 24 days
Ordinary Performance-Vesting Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation				$ 200	0
Unrecognized compensation expense				$ 2,800
Executive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares				2,200,000
IPO Executive Service-Vesting Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares				0
Unrecognized compensation expense				$ 24,600
Weighted average remaining requisite service period				3 years 9 months 18 days
Weighted average grant date fair value (in usd per share) | $ / shares				$ 29.50		29.50
Award vesting period				5 years
Award service period				5 years
Vested in period (in shares) | shares				0
IPO Executive Performance Condition Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares				1,100,000
Equity-based compensation				$ 1,300	1,100
Unrecognized compensation expense				$ 11,700
Executive Market Condition Awards, Type I
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award service period				5 years
Executive Market Condition Awards, Type II
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target common stock share price within five years (in usd per share) | $ / shares				$ 44.25
Target common stock share price within eight years (in usd per share) | $ / shares				$ 59
IPO Executive Performance Condition Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares				0
Weighted average remaining requisite service period				2 years 7 months 6 days
Weighted average grant date fair value (in usd per share) | $ / shares				$ 16.58		$ 16.58
Vested in period (in shares) | shares				0
Total TPH and RPH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation				$ 119,800	160,600
Unrecognized compensation expense				1,295,300
Total TOG Units and Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation				$ 8,000	9,300
Award vesting period				4 years
Unrecognized compensation expense				$ 63,600
TOG Common Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation				3,600	$ 5,500
Unrecognized compensation expense				$ 32,800

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of Outstanding Awards, Compensation Expense, and Remaining Unrecognized Compensation Expense (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 157,293	$ 185,911
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares / Units Outstanding (in shares)	1.2
Compensation expense	$ 4,400	3,800
Unrecognized compensation expense	$ 30,800
IPO Service-Vesting Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares / Units Outstanding (in shares)	8.8
Compensation expense	$ 14,500	18,000
Unrecognized compensation expense	$ 195,600
IPO Executive Service-Vesting Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares / Units Outstanding (in shares)	1.1
Compensation expense	$ 1,600	1,400
Unrecognized compensation expense	$ 24,600
Total Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares / Units Outstanding (in shares)	15.5
Compensation expense	$ 27,600	20,500
Unrecognized compensation expense	$ 367,000
IPO Executive Performance Condition Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares / Units Outstanding (in shares)	1.1
Compensation expense	$ 1,300	1,100
Unrecognized compensation expense	$ 11,700
Shares / Units Granted (in shares)	1.1
Ordinary Service-Vesting Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares / Units Outstanding (in shares)	4.4
Compensation expense	$ 10,000	0
Unrecognized compensation expense	$ 132,300
Ordinary Performance-Vesting Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares / Units Outstanding (in shares)	0.1
Compensation expense	$ 200	0
Unrecognized compensation expense	$ 2,800
Total TPH and RPH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares / Units Outstanding (in shares)	50.7
Compensation expense	$ 119,800	160,600
Unrecognized compensation expense	$ 1,295,300
TPH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares / Units Outstanding (in shares)	50.3		50.3
Compensation expense	$ 100,600	141,800
Unrecognized compensation expense	$ 1,107,400
Shares / Units Granted (in shares)	0.7
RPH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares / Units Outstanding (in shares)	0.4		0.4
Compensation expense	$ 19,200	18,800
Unrecognized compensation expense	$ 187,900
Shares / Units Granted (in shares)	0
Total TOG Units and Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares / Units Outstanding (in shares)	3
Compensation expense	$ 8,000	9,300
Unrecognized compensation expense	$ 63,600
TOG Common Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares / Units Outstanding (in shares)	1.8
Compensation expense	$ 3,600	$ 5,500
Unrecognized compensation expense	$ 32,800

Equity-Based Compensation - S_2

Equity-Based Compensation - Summary of Unvested Awards (Details) shares in Millions	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Services Vesting Award
Service-Vesting Awards
Beginning balance (in shares) | shares	10.1
Granted (in shares) | shares	3.7
Vested (in shares) | shares	(0.4)
Forfeited (in shares) | shares	(0.2)
Ending balance (in shares) | shares	13.2
Weighted-Average Grant Date Fair Value
Beginning balance (in usd per share) | $ / shares	$ 29.41
Granted (in usd per share) | $ / shares	34.29
Vested, settled (in usd per share) | $ / shares	29.73
Forfeited (in usd per share) | $ / shares	29.25
Ending balance (in usd per share) | $ / shares	$ 30.78
IPO Executive Service-Vesting Awards
Service-Vesting Awards
Beginning balance (in shares) | shares	1.1
Granted (in shares) | shares	0
Vested (in shares) | shares	0
Forfeited (in shares) | shares	0
Ending balance (in shares) | shares	1.1
Weighted-Average Grant Date Fair Value
Beginning balance (in usd per share) | $ / shares	$ 29.50
Granted (in usd per share) | $ / shares	0
Vested, settled (in usd per share) | $ / shares	0
Forfeited (in usd per share) | $ / shares	0
Ending balance (in usd per share) | $ / shares	$ 29.50
IPO Executive Performance Condition Awards
Service-Vesting Awards
Beginning balance (in shares) | shares	1.1
Granted (in shares) | shares	0
Vested (in shares) | shares	0
Forfeited (in shares) | shares	0
Ending balance (in shares) | shares	1.1
Weighted-Average Grant Date Fair Value
Beginning balance (in usd per share) | $ / shares	$ 16.58
Granted (in usd per share) | $ / shares	0
Vested, settled (in usd per share) | $ / shares	0
Forfeited (in usd per share) | $ / shares	0
Ending balance (in usd per share) | $ / shares	$ 16.58
TPH Units
Service-Vesting Awards
Beginning balance (in shares) | shares	50.3
Granted (in shares) | shares	0.7
Vested (in shares) | shares	0
Forfeited (in shares) | shares	(0.7)
Ending balance (in shares) | shares	50.3
Weighted-Average Grant Date Fair Value
Beginning balance (in usd per share) | $ / shares	$ 24.38
Granted (in usd per share) | $ / shares	28.41
Vested, settled (in usd per share) | $ / shares	0
Forfeited (in usd per share) | $ / shares	24.79
Ending balance (in usd per share) | $ / shares	$ 24.43
RPH Units
Service-Vesting Awards
Beginning balance (in shares) | shares	0.4
Granted (in shares) | shares	0
Vested (in shares) | shares	0
Forfeited (in shares) | shares	0
Ending balance (in shares) | shares	0.4
Weighted-Average Grant Date Fair Value
Beginning balance (in usd per share) | $ / shares	$ 457.10
Granted (in usd per share) | $ / shares	0
Vested, settled (in usd per share) | $ / shares	0
Forfeited (in usd per share) | $ / shares	0
Ending balance (in usd per share) | $ / shares	$ 457.10
TOG Units
Service-Vesting Awards
Beginning balance (in shares) | shares	2.2
Granted (in shares) | shares	0
Vested (in shares) | shares	(0.4)
Forfeited (in shares) | shares	0
Ending balance (in shares) | shares	1.8
Weighted-Average Grant Date Fair Value
Beginning balance (in usd per share) | $ / shares	$ 27.29
Granted (in usd per share) | $ / shares	0
Vested, settled (in usd per share) | $ / shares	27.29
Forfeited (in usd per share) | $ / shares	0
Ending balance (in usd per share) | $ / shares	$ 27.29
Class A Common Stock
Service-Vesting Awards
Beginning balance (in shares) | shares	1.7
Granted (in shares) | shares	0
Vested (in shares) | shares	(0.5)
Forfeited (in shares) | shares	0
Ending balance (in shares) | shares	1.2
Weighted-Average Grant Date Fair Value
Beginning balance (in usd per share) | $ / shares	$ 29.50
Granted (in usd per share) | $ / shares	0
Vested, settled (in usd per share) | $ / shares	29.50
Forfeited (in usd per share) | $ / shares	0
Ending balance (in usd per share) | $ / shares	$ 29.50

Equity - Narrative (Details)

Equity - Narrative (Details)						3 Months Ended
	May 15, 2023 $ / shares	Feb. 15, 2023 $ / shares	Nov. 09, 2022 $ / shares	Aug. 09, 2022 $ / shares	May 10, 2022 $ / shares	Mar. 31, 2023 classOfStock $ / shares shares	Mar. 31, 2022 $ / shares	Dec. 31, 2022 $ / shares shares
Class of Stock [Line Items]
Number of classes of common stock, outstanding | classOfStock						2
Preferred stock, shares authorized						25,000,000		25,000,000
Preferred stock, par or stated value per share (in usd per share) | $ / shares						$ 0.001		$ 0.001
Preferred stock, shares outstanding						0		0
Dividends declared per share of Class A Common Stock (in usd per share) | $ / shares						$ 0.50	$ 0
Common units, units exchanged (in shares)						1,000,000
Common Class A Voting
Class of Stock [Line Items]
Common stock, shares authorized						2,240,000,000
Common stock, par or stated value per share (in usd per share) | $ / shares						$ 0.001
Nonvoting Common Stock
Class of Stock [Line Items]
Common stock, shares authorized						100,000,000
Class B Common Stock
Class of Stock [Line Items]
Common stock, shares authorized						750,000,000		750,000,000
Common stock, par or stated value per share (in usd per share) | $ / shares						$ 0.001		$ 0.001
Number of votes per share of common stock held						10
Common shares outstanding						228,652,641		229,652,641
Common stock, shares cancelled						1,000,000
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized						2,340,000,000		2,340,000,000
Common stock, par or stated value per share (in usd per share) | $ / shares						$ 0.001		$ 0.001
Number of votes per share of common stock held						1
Common shares outstanding						80,492,727		79,240,058
Dividends declared per share of Class A Common Stock (in usd per share) | $ / shares		$ 0.50	$ 0.26	$ 0.39	$ 0.44	$ 0.20	$ 1.59
Common stock, shares converted						1,000,000
Class A Common Stock | Subsequent Event
Class of Stock [Line Items]
Dividends declared per share of Class A Common Stock (in usd per share) | $ / shares	$ 0.20

Equity - Dividends Declared (De

Equity - Dividends Declared (Details) - $ / shares						3 Months Ended
	May 15, 2023	Feb. 15, 2023	Nov. 09, 2022	Aug. 09, 2022	May 10, 2022	Mar. 31, 2023	Mar. 31, 2022
Class of Stock [Line Items]
Dividends declared per share of Class A Common Stock (in usd per share)						$ 0.50	$ 0
Class A Common Stock
Class of Stock [Line Items]
Dividends declared per share of Class A Common Stock (in usd per share)		$ 0.50	$ 0.26	$ 0.39	$ 0.44	$ 0.20	$ 1.59
Class A Common Stock | Subsequent Event
Class of Stock [Line Items]
Dividends declared per share of Class A Common Stock (in usd per share)	$ 0.20

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event shares in Millions, $ in Millions	May 15, 2023 USD ($) shares
Subsequent Event [Line Items]
Business acquisition, earnout payment	$ 400
Angelo Gordon
Subsequent Event [Line Items]
Payments to acquire businesses, gross	$ 970
Equity interest issued in the business acquisition (in shares) | shares	62.5

Uncategorized Items - tpg-20230

Label	Element	Value
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest	$ 155,276,000
Equity Reallocation Between Controlling And Non-Controlling Interests	tpg_EquityReallocationBetweenControllingAndNonControllingInterests	0
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	13,232,000
Effect Of Reorganization And Purchase Of Units In The Partnership, Value	tpg_EffectOfReorganizationAndPurchaseOfUnitsInThePartnershipValue	1,896,000
Non-Controlling Interest, Decrease From Liability-Based Performance Allocation Compensation	tpg_NonControllingInterestDecreaseFromLiabilityBasedPerformanceAllocationCompensation	3,525,767,000
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	190,462,000
Noncontrolling Interest, Change in Redemption Value	us-gaap_MinorityInterestChangeInRedemptionValue	(517,000)
Adjustments to Additional Paid in Capital, Increase in Carrying Amount of Redeemable Preferred Stock	us-gaap_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock	(2,504,000)
Noncontrolling Interest, Increase from Contributions to Noncontrolling Interest Holders	tpg_NoncontrollingInterestIncreaseFromContributionsToNoncontrollingInterestHolders	(82,345,000)
Over-Allotment Option [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	49,756,000
IPO [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	759,213,000
Partner Capital [Member]
Effect Of Reorganization And Purchase Of Units In The Partnership, Value	tpg_EffectOfReorganizationAndPurchaseOfUnitsInThePartnershipValue	(1,611,739,000)
Noncontrolling Interest, Change in Redemption Value	us-gaap_MinorityInterestChangeInRedemptionValue	(110,000)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	5,256,000
Retained Earnings [Member]
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest	41,284,000
Effect Of Reorganization And Purchase Of Units In The Partnership, Value	tpg_EffectOfReorganizationAndPurchaseOfUnitsInThePartnershipValue	(27,000)
Additional Paid-in Capital [Member]
Equity Reallocation Between Controlling And Non-Controlling Interests	tpg_EquityReallocationBetweenControllingAndNonControllingInterests	654,129,000
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	13,232,000
Effect Of Reorganization And Purchase Of Units In The Partnership, Value	tpg_EffectOfReorganizationAndPurchaseOfUnitsInThePartnershipValue	271,780,000
Stock Issued During Period, Value, Acquisitions	us-gaap_StockIssuedDuringPeriodValueAcquisitions	33,584,000
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	7,627,000
Adjustments to Additional Paid in Capital, Increase in Carrying Amount of Redeemable Preferred Stock	us-gaap_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock	141,000
Additional Paid-in Capital [Member] | Over-Allotment Option [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	49,754,000
Additional Paid-in Capital [Member] | IPO [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	784,611,000
Noncontrolling Interest [Member]
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest	113,992,000
Equity Reallocation Between Controlling And Non-Controlling Interests	tpg_EquityReallocationBetweenControllingAndNonControllingInterests	(654,129,000)
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests	us-gaap_MinorityInterestDecreaseFromRedemptions	379,597,000
Effect Of Reorganization And Purchase Of Units In The Partnership, Value	tpg_EffectOfReorganizationAndPurchaseOfUnitsInThePartnershipValue	1,341,603,000
Stock Issued During Period, Value, Acquisitions	us-gaap_StockIssuedDuringPeriodValueAcquisitions	(33,584,000)
Non-Controlling Interest, Decrease From Liability-Based Performance Allocation Compensation	tpg_NonControllingInterestDecreaseFromLiabilityBasedPerformanceAllocationCompensation	3,525,767,000
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	182,835,000
Noncontrolling Interest, Change in Redemption Value	us-gaap_MinorityInterestChangeInRedemptionValue	(407,000)
Adjustments to Additional Paid in Capital, Increase in Carrying Amount of Redeemable Preferred Stock	us-gaap_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock	(2,645,000)
Noncontrolling Interest, Increase from Contributions to Noncontrolling Interest Holders	tpg_NoncontrollingInterestIncreaseFromContributionsToNoncontrollingInterestHolders	(82,345,000)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	966,000
Noncontrolling Interest [Member] | IPO [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	(25,426,000)
Parent [Member]
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest	41,284,000
Equity Reallocation Between Controlling And Non-Controlling Interests	tpg_EquityReallocationBetweenControllingAndNonControllingInterests	654,129,000
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	13,232,000
Effect Of Reorganization And Purchase Of Units In The Partnership, Value	tpg_EffectOfReorganizationAndPurchaseOfUnitsInThePartnershipValue	272,032,000
Stock Issued During Period, Value, Acquisitions	us-gaap_StockIssuedDuringPeriodValueAcquisitions	33,584,000
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	7,627,000
Adjustments to Additional Paid in Capital, Increase in Carrying Amount of Redeemable Preferred Stock	us-gaap_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock	141,000
Parent [Member] | Over-Allotment Option [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	49,756,000
Parent [Member] | IPO [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	$ 784,639,000
Common Class B [Member] | Common Stock [Member]
Effect Of Reorganization And Purchase Of Units In The Partnership, Shares	tpg_EffectOfReorganizationAndPurchaseOfUnitsInThePartnershipShares	229,652,641
Effect Of Reorganization And Purchase Of Units In The Partnership, Value	tpg_EffectOfReorganizationAndPurchaseOfUnitsInThePartnershipValue	$ 230,000
Common Class A [Member] | Common Stock [Member]
Effect Of Reorganization And Purchase Of Units In The Partnership, Shares	tpg_EffectOfReorganizationAndPurchaseOfUnitsInThePartnershipShares	48,984,961
Effect Of Reorganization And Purchase Of Units In The Partnership, Value	tpg_EffectOfReorganizationAndPurchaseOfUnitsInThePartnershipValue	$ 49,000
Common Class A [Member] | Common Stock [Member] | Over-Allotment Option [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	$ 2,000
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	1,775,410
Common Class A [Member] | Common Stock [Member] | IPO [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	$ 28,000
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	28,310,194