TPG’s assets under management (AUM) rose to $326.8bn (£242.44bn) in the second quarter of 2026, partly driven by fundraising across its direct lending and credit platform.

In its second-quarter results, the global alternatives manager reported that its AUM increased 25 per cent year on year, which the firm attributed to the $60.7bn of capital it has raised over the past 12 months.

This included $12.3bn raised for TPG X within its capital platform and $9.3bn for TPG Direct Lending within its credit platform. TPG’s private credit platform now accounts for $101bn of the firm’s total AUM.

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Overall, TPG chief executive Jon Winkelried said the alternative asset manager delivered “record results” during the first half of 2026.

“Our business model is designed to perform across market cycles, and the breadth of our platform, the strength of our investment performance, and the depth of our client relationships continue to support step-function growth across the firm,” he said.

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Alongside its AUM growth, TPG reported a 43 per cent increase in fee-related earnings, rising from $220m in the second quarter of 2025 to $315m in the second quarter of 2026.

Net income attributable to TPG increased to $93m in the second quarter, compared with $15m in the same period last year.

TPG is headquartered in Fort Worth, Texas and invests across private equity, impact, credit, real estate and market solutions.

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