TPG Inc Q2 2022 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Robert Andrew Lee - Keefe, Bruyette & Woods, Inc. - Analyst : The first question would be on kind of your business footprint. Obviously, you have a large growing Asian platform, but you don't talk as much about your EMEA platform. I know it's something you've talked about investing in. Can you maybe just first update us on where that stands and your list of priorities to expand your footprint through Europe and the EMEA region. And then maybe secondly, and I apologize if you went through this earlier, can you update us on your -- just some expense guidance for the year. I mean it came in -- comp in particular seemed like really well controlled. But should we still expect that to accelerate at a meaningful pace over the back half of the year? Todd B. Sisitsky - TPG Capital, L.P. - President, Managing Partner of North America and Head of North American & Europe Private Equity Sure. It's Todd. Let me start just on the European front. We have -- this is a geography we've been in really since the beginning of the firm. So it is important to us. And we've made a lot of progress, I think, in recent years. I think, as Jon mentioned, we just announced a large health care deal, [Dr. Agarwals]. We have 1 of the co-heads of the TPG Capital Healthcare platform who works out London with a great team. And so we're really building our pipeline and our presence there. In real estate, which is another of our global strengths, we have a strong presence with a number of partners and senior team members who have had a lot of success both on the investment and then the liquidity front. And so Europe for us, we're continuing to grow. We have sort of leaned in, particularly in our strengths. And it also has become an increasingly important place for us from a fundraising perspective. So I've -- I can't remember how much trips and weekends and weeks I've spent over in Europe personally. We had a dozen team members over for the SuperReturn conference. We have a number of new relationships we've been building across the platforms from a fund-raising standpoint in Europe. So it's an important area for us. We are putting a lot of energy against it. We're spending a lot of time as a senior leadership team in Europe trying to continue to grow the business. And fundamentally, we're leaning on our strengths as a global platform to keep on our European presence. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 09, 2022 / 3:00PM, TPG.OQ - Q2 2022 TPG Inc Earnings Call