TPG and Jackson form strategic partnership with $12B AUM commitment, $500M cross-investment

TPG Inc.

TPG to manage minimum $12B of Jackson's general account assets, with incentives for $20B target.
TPG invests $500M in Jackson (~6.5% stake); Jackson receives $150M in TPG shares.
Partnership initially focuses on credit strategies (Investment Grade ABF, Direct Lending); close expected Q1 2026.
Two-year lock-up on cross-shareholdings; TPG must hold $500M floor through year 5.

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