SCHEDULE 13G/A: Temasek Holdings Maintains Significant Stake in TPG Inc. While Subsidiaries Reduce Below 5% Threshold

Temasek Holdings (Private) Limited and its subsidiaries have filed an amended Schedule 13G, revealing Temasek's continued 7.2% beneficial ownership in TPG Inc., while Fullerton Management Pte Ltd, Temasek Life Sciences Private Limited, and V-Sciences Investments Pte Ltd have each reduced their beneficial ownership to 3.4%, falling below the 5% reporting threshold.

Summary

• Temasek Holdings (Private) Limited (Temasek) beneficially owns 8,443,225 shares of TPG Inc.'s Class A Common Stock, representing 7.2% of the class.
• Fullerton Management Pte Ltd (Fullerton), Temasek Life Sciences Private Limited (TLS), and V-Sciences Investments Pte Ltd (V-Sciences) each beneficially own 3,981,179 shares, representing 3.4% of the class.
• V-Sciences is a wholly-owned subsidiary of TLS, which is a wholly-owned subsidiary of Fullerton, which is a wholly-owned subsidiary of Temasek.
• The filing indicates that Fullerton, TLS, and V-Sciences have ceased to be beneficial owners of more than 5% of TPG Inc.'s Class A common stock.
• All reporting persons are citizens of the Republic of Singapore.
• The ownership percentages are based on 116,946,288 shares of TPG Inc.'s Class A common stock outstanding as of April 8, 2025, as reported in the Issuer's definitive proxy statement filed on April 23, 2025.
• The securities are not held for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: The document is a factual, routine regulatory filing (Schedule 13G/A) reporting changes in beneficial ownership. It does not contain qualitative statements or financial performance data that would indicate a strong positive or negative sentiment. The reduction in stake by some subsidiaries is balanced by the continued significant stake of the parent entity, Temasek.

Positives

• Temasek Holdings (Private) Limited maintains a significant beneficial ownership stake of 7.2% in TPG Inc., indicating continued institutional confidence from a major global investor.

Negatives

• Fullerton Management Pte Ltd, Temasek Life Sciences Private Limited, and V-Sciences Investments Pte Ltd have each reduced their beneficial ownership in TPG Inc. to 3.4%, falling below the 5% threshold, which could be interpreted as a partial reduction in exposure by these specific entities within the Temasek group.

Future Outlook

The document does not contain any forward-looking statements or guidance from TPG Inc. or the reporting persons regarding the issuer's future performance.

Industry Context

This filing is a routine disclosure of beneficial ownership by institutional investors, common in the financial industry. It reflects a passive investment stance by Temasek and its subsidiaries in TPG Inc., a global alternative asset management firm. The reduction in stake by the subsidiaries below the 5% threshold is a specific portfolio management decision within the broader Temasek group.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership and changes in the beneficial ownership structure of TPG Inc.'s Class A common stock.

Key Dates

Keywords

TPG Inc., Temasek Holdings, Schedule 13G, Beneficial Ownership, Institutional Investment, Class A Common Stock, SEC Filing, Fullerton Management, Temasek Life Sciences, V-Sciences Investments