TPG Rose 45% as Q3 Earnings Exceeded Expectations
TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was - 14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like TPG Inc. (NASDAQ:TPG) in the fourth quarter 2023 investor letter. Based in Fort Worth, Texas, TPG Inc. (NASDAQ:TPG) is an alternative asset manager. On March 28, 2024, TPG Inc. (NASDAQ:TPG) stock closed at $44.70 per share. One-month return of TPG Inc. (NASDAQ:TPG) was 0.79%, and its shares gained 58.29% of their value over the last 52 weeks. TPG Inc. (NASDAQ:TPG) has a market capitalization of $16.301 billion.
TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding TPG Inc. (NASDAQ:TPG) in its fourth quarter 2023 investor letter:
"In Financials, we prefer well-placed insurance companies and niche businesses while tending to avoid banks which face credit deterioration and rising deposit costs. Alternative asset manager TPG Inc. (NASDAQ:TPG) climbed 45%. They offer advisory, debt & equity arrangement, underwriting & placement services, and capital structuring. Third quarter earnings were well above Street estimates, driven by management and performance fees."
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TPG Inc. (NASDAQ:TPG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, TPG Inc. (NASDAQ:TPG) was held by 17 hedge fund portfolios, compared to 6 in the previous quarter, according to our database.
We discussed TPG Inc. (NASDAQ:TPG) in another article and shared TimesSquare Capital Management's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
