TPG Inc. (NASDAQ:TPG) Q2 2025 Earnings Conference Call August 6, 2025 11:00 AM ETCompany ParticipantsGary Stein - Head of Investor RelationsJack Charles Weingart - Chief Financial OfficerJames George Coulter - Founder & Executive ChairmanJon Winkelried - CEO & DirectorConference Call ParticipantsAlexander Blostein - Goldman Sachs Group, Inc., Research DivisionBrian Bertram Bedell - Deutsche Bank AG, Research DivisionDaniel Thomas Fannon - Jefferies LLC, Research DivisionGlenn Paul Schorr - Evercore ISI Institutional Equities, Research DivisionKenneth Brooks Worthington - JPMorgan Chase & Co, Research DivisionKyle Kenneth Voigt - Keefe, Bruyette, & Woods, Inc., Research DivisionMichael J. Cyprys - Morgan Stanley, Research DivisionSteven Joseph Chubak - Wolfe Research, LLCWilliam Raymond Katz - TD Cowen, Research DivisionOperatorGood morning, and welcome to the TPG's Second Quarter 2025 Earnings Conference Call. [Operator Instructions] 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.Gary SteinGreat. Thanks, operator, and welcome, everyone. Joining me this morning are Jon Winkelried, Chief Executive Officer; and Jack Weingart, Chief Financial Officer. In addition, our Executive Chairman and Co-Founder, Jim Coulter; and our President, Todd Sisitsky, are also here and will be available for the Q&A portion of this morning's 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