TPG (TPG) revenue breakdown
By product, Management fees is the largest at 75% of fiscal 2025 revenue; Transaction fees grew fastest, 39% a year over 5 years.
Revenue by product
Fiscal years, as TPG reports them in its 10-K filings; fiscal 2025 total $2.4B.
| Products | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|
| Management fees | $699M | $718M | $920M | $1.2B | $1.6B | $1.8B | 75% |
| Expense reimbursements and other | $130M | $155M | $209M | $234M | $246M | $288M | 12% |
| Transaction fees | $45M | $91M | $98M | $99M | $141M | $231M | 10% |
| Incentive fees | $10M | — | $5M | $3M | $33M | $49M | 2% |
| Monitoring fees | $20M | $14M | $14M | $11M | $30M | $29M | 1% |
| Fee credits | -$20M | — | — | — | — | — | — |
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Where does TPG make its money?
In fiscal 2025, by product: Management fees $1.8B, Expense reimbursements and other $288M, Transaction fees $231M, Incentive fees $49M, Monitoring fees $29M.
From TPG's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.