TPG has reported 65 per cent year-on-year growth in its assets under management (AUM) to $229bn (£180bn) in the second quarter, boosted by its acquisition of credit and real estate manager Angelo Gordon last year.

The alternative asset manager’s credit division saw its AUM rise 10.1 per cent from $61.3m at the start of the quarter to $67.5m as of 30 June.

This was accompanied by more marginal AUM growth in other segments, such as capital and impact.

TPG acquired Angelo Gordon last year, in a deal that was valued at $2.7bn. It was deemed a “strategic transaction” which strengthened TPG’s position as a diversified manager across private equity, credit, real estate and market solutions.

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TPG’s second-quarter figures showed that fee-related earnings increased by 60 per cent year-on-year to $201m, while fee-earning AUM was up 74 per cent over the same period to $137bn.

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“Our strong second quarter results reflect the accelerating momentum in our business as we continue to successfully scale and diversify,” said chief executive Jon Winkelried.

“We finished the quarter with $229bn of AUM across more than 30 differentiated investment strategies in private equity, credit, and real estate. Over the past year, we drove a step-function change in our growth profile and earnings power as a result of both organic and inorganic activity. Our firm is capitalising on our expanded breadth to deliver strong investment performance for our clients and build long term value for our investors.”

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