TPG Inc.

Good morning and welcome to TPG's third quarter 2026 earnings conference call. Currently, all callers have been placed in listen-only mode, and following management's prepared remarks, the call will be open for your questions. If you would like to ask a question at that time, please press star 1 on your telephone keypad. If you need to remove yourself from the queue, press star 2. To get to as many questions as time permits, we ask that you please limit yourself to one question. At any time, if you should need operator assistance, press star zero. Please be advised that today's call is being recorded. Please go to TPG's IR website to obtain the earnings materials. I will now turn the call over to Gary Stein, Head of Investor Relations at TPG. Thank you. You may begin.

Thanks, Operator, and welcome, everyone. Joining me today are Jon Winkelried, Chief Executive Officer, and Axel Andre, Chief Financial Officer. In addition, Jim Coulter, Executive Chairman and Co-Founder, and Jack Weingart, CEO of TPG Global Wealth Solutions, are here with us for the Q&A portion of this call. I'd like to remind you this call may include forward-looking statements that do not guarantee future events or performance. Please refer to TPG's earnings release and SEC filings for factors that could cause actual results to differ materially from these statements. TPG undertakes no obligation to revise or update any forward-looking statements except as required by law. Within our discussion and earnings release, we're presenting GAAP and non-GAAP measures and we believe certain non-GAAP measures that we discuss on this call are relevant in assessing the financial performance of the business. These non-GAAP measures are reconciled to the nearest GAAP figures in TPG's earnings release, which is available on our website. Please note that nothing on this call constitutes an offer to sell or solicitation of an offer to purchase and interest in any TPG fund. Looking briefly at our results for the third quarter, we reported gap net income attributable to TPG Inc. of $100 million and after tax distributable earnings of $265 million or 65 cents per share of Class A common stock. We declared a dividend of 55 cents per share of Class A common stock, which will be paid on November 23rd, 2026 to holders of record as of November 9th, 2026. With that, I'll turn the call over to Jon.

Good morning, everyone. Thank you for joining us.