What Happened?

Shares of global alternative asset manager TPG (NASDAQ: TPG) jumped 3.9% in the morning session after its impact investing platform, The Rise Funds, announced a majority investment in Trustwell, a provider of software for the food industry. 

The investment gave TPG a majority stake in the company, which specialized in SaaS-based regulatory, compliance, and traceability solutions. Following the deal, the previous investor, The Riverside Company, fully exited its position.

After the initial pop the shares cooled down to $68.11, up 3.6% from previous close.

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What Is The Market Telling Us

TPG’s shares are somewhat volatile and have had 12 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The biggest move we wrote about over the last year was 3 months ago when the stock gained 3.8% as two investment firms expressed a positive outlook on the company, with BMO Capital initiating coverage and BofA Securities raising its price target. 

BMO Capital began its coverage with an "Outperform" rating and set a price target of $65. The firm highlighted TPG's strong start to the year in fundraising, product expansion, and overall execution as key reasons for its constructive long-term view. Separately, BofA Securities increased its price target on TPG to $69 from $65, while maintaining a "Buy" rating. BofA's analyst noted expectations for TPG to have the "strongest all-around quarter" among its covered asset managers, citing "robust" fundraising and improving investment activity.

TPG is up 3.6% since the beginning of the year, and at $68.11 per share, it is trading close to its 52-week high of $69.77 from January 2025. Investors who bought $1,000 worth of TPG’s shares at the IPO in January 2022 would now be looking at an investment worth $2,003.

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