a screen announces the listing of privateequity firm tpg during the ipo at the nasdaq market site in times square in new york city us january 13 2022 reutersbrendan mcdermid new york aug 9 reuters  tpg inc tpgo said on tuesday its secondquarter aftertax distributable earnings more than tripled owing to strong growth in management fees and asset sales from its private equity portfolio the fort worth texasbased firm said aftertax distributable earnings  which represents the cash used to pay dividends to shareholders  rose to 162 million in the second quarter up from 53 million a year ago that exceeded the average analyst forecast of 109 million according to refinitiv data tpg said the value of all its funds depreciated during the quarter due to the market downturn hurt by rising interest rates and the impact of the russiaukraine war its private equity fund valuations fell 24 while its growth and impact portfolios declined 28 and 11 respectively that result was in line with peers blackstone inc  carlyle group inc  kkr  co inc kkrn and apollo global management inc apon which all reported a drop in their fund valuations in the second quarter read more i think that our portfolio continues to perform well and across the broad portfolio we still have abovemarket revenue and ebitda growth tpg ceo jon winkelried said in an interview tpg said it generated 44 billion in total asset sales during the quarter consisting mostly of deals agreed prior to the downturn it invested 38 billion on new acquisitions in the same period there are still a number of growth companies that need capital to grow and were seeing opportunities with better terms winkelried added under generally accepted accounting principles tpg declared a loss of 2625 million in the second quarter compared with 726 million of net income a year go as investment income nosedived tpg ended the quarter with 127 billion of assets under management a record 394 billion of unspent capital and 127 billion of new capital raised it declared a quarterly dividend of 39 cents per share reporting by chibuike oguh in new york editing by leslie adler