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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">As filed with the Securities and Exchange Commission
on January 5, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0; text-align: right"><FONT STYLE="font-weight: normal">Registration
No. 333-</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 18pt"><B>FORM S-8</B></FONT><B><BR>
Registration Statement<BR>
<I>under<BR>
The Securities Act of 1933</I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 18pt"><B>TPG Inc.</B></FONT><B><BR>
</B>(Exact name of registrant as specified in its charter)</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Delaware</B></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>301 Commerce Street, Suite 3300 Fort Worth, TX 76102</B></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>87-2063362</B></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(State or other jurisdiction of incorporation or organization)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Address of principal executive offices, including zip code)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(I.R.S employer identification no.)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>TPG INC. OMNIBUS EQUITY INCENTIVE PLAN<BR>
</B>(Full title of the plan)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Bradford Berenson, Esq.<BR>
General Counsel<BR>
345 California Street, Suite 3300<BR>
San Francisco, CA 94104<BR>
</B>(Name and address of agent for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>(415) 743-1500<BR>
</B>(Telephone number, including area code, of agent for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>With a copy to:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>John J. Cannon III, Esq.<BR>
Gillian Emmett Moldowan, Esq.<BR>
Shearman &amp; Sterling LLP<BR>
599 Lexington Avenue<BR>
New York, NY 10022<BR>
(212) 848-4000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of &ldquo;large
accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo; and &ldquo;emerging growth company&rdquo;
in Rule 12b-2 of the Exchange Act.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 43%; padding-right: 5.4pt; padding-left: 5.4pt">Large accelerated filer</TD>
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></TD>
    <TD STYLE="width: 47%; padding-right: 5.4pt; padding-left: 5.4pt">Accelerated filer</TD>
    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Non-accelerated filer</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Smaller reporting company</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Emerging growth company</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 7(a)(2)(B) of the Securities Act.</P>

<P STYLE="font: 10pt Segoe UI Symbol,sans-serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Segoe UI Symbol,sans-serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: -0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>EXPLANATORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This Registration Statement
registers an additional 12,797,983 shares of the Registrant&rsquo;s Class A common stock, $0.001 par value per share (the
&ldquo;<U>Common Stock</U>&rdquo;), that may be offered and sold under the TPG Inc. Omnibus Equity Incentive Plan (the
&ldquo;<U>Plan</U>&rdquo;). <FONT STYLE="background-color: white">These additional shares of Common Shares are additional securities
of the same class as other securities for which an original registration statement (File No. 333-262140) on Form S-8 was filed with
the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) on January 13, 2021. </FONT>The number of shares of Common
Stock available for issuance under the stockholder-approved Plan is subject to an automatic annual increase on the first day of each
of the Registrant&rsquo;s fiscal years beginning on January 1, 2023 and ending on&nbsp;the last January 1st during the initial
ten-year term of the Plan,&nbsp;by an amount equal to&nbsp;<FONT STYLE="color: #242424; background-color: white">the amount (if any)
by which (a)&nbsp;</FONT>10% of the&nbsp;aggregate number of outstanding shares of Common Stock on a fully converted and diluted
basis (assuming the redemption of all then outstanding common units and promote units of the TPG Operating Group) on the last day of
the immediately preceding fiscal year exceeds (b)&nbsp;the aggregate number of shares of Common Stock available for issuance under
this Plan, unless the administrator of the Plan should decide to increase the number of shares of Common Stock available under this
Plan by a lesser amount.&nbsp;For 2023, the administrator authorized an increase of 12,797,983 shares of Common Stock under
the Plan, consisting of the full increase allowed pursuant to the Plan&rsquo;s&nbsp;evergreen&nbsp;provision.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in">Part
I<BR>
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The information required by Item 1 and Item
2 of Part I of Form S-8 is omitted from this filing in accordance with Rule 428 under the Securities Act and the introductory note to
Part I of Form S-8. The documents containing the information specified in Part I will be delivered to the participants in the Plan covered
by this Registration Statement as required by Rule 428(b)(1) under the Securities Act.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in">Part
II<BR>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</P>

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<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Item 3.</TD><TD></FONT>Incorporation of Documents by Reference.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following documents filed by the Registrant
with the Securities and Exchange Commission (the &ldquo;<U>SEC</U>&rdquo;) are incorporated herein by reference:</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Registrant&rsquo;s Annual Report on <A HREF="https://www.sec.gov/Archives/edgar/data/1880661/000188066122000008/0001880661-22-000008-index.htm">Form 10-K</A> for the fiscal year ended December 31, 2021, filed with
the SEC on March 29, 2022 (File No. 001-04321);</TD></TR></TABLE>

<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Registrant&rsquo;s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30,
2022 and September 30, 2022, filed with the SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/1880661/000188066122000013/0001880661-22-000013-index.htm">May 12, 2022</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1880661/000188066122000023/0001880661-22-000023-index.htm">August 9, 2022</A> and <A HREF="https://www.sec.gov/Archives/edgar/data/1880661/000188066122000013/0001880661-22-000013-index.htm">November 9, 2022</A>;</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The Registrant&rsquo;s Current Reports on Form 8-K filed with the SEC since December 31, 2021 <FONT STYLE="background-color: white">(other
than portions of those documents furnished or otherwise not deemed to be filed)</FONT>; and</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">The description of the Registrant&rsquo;s securities contained in the Registrant&rsquo;s Registration
Statement on <A HREF="https://www.sec.gov/Archives/edgar/data/1880661/000119312522008147/0001193125-22-008147-index.htm">Form 8-A</A> (File No. 001-41222) filed with the SEC under the Securities Exchange Act of 1934, as amended (the &ldquo;<U>Exchange
Act</U>&rdquo;), on January 13, 2022, including any other amendment or report filed for the purpose of updating such description.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In addition, all documents subsequently filed
by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment
which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference herein and to be a part hereof from the date of filing of such documents; <I>provided</I>, <I>however</I>,
that information deemed to have been furnished and not filed shall not be deemed to be incorporated by reference into this Registration
Statement. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified
or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently
filed document that also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement
so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Item 4.</TD><TD>Description of Securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Not applicable.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Item 5. </TD><TD>Interests of Named Experts and Counsel.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Not applicable.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Item 6.</TD><TD>Indemnification of Directors and Officers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Section 145(a) of the Delaware General Corporation
Law (the &ldquo;<U>DGCL</U>&rdquo;) provides that a corporation may indemnify any person who was or is a party or is threatened to be
made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative
(other than an action by or in the right of the corporation) by reason of the fact that the person is or was a director, officer, employee
or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys&rsquo; fees), judgments, fines
and amounts paid in settlement actually and reasonably incurred by the person in connection with such action, suit or proceeding if the
person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation,
and, with respect to any criminal action or proceeding, had no reasonable cause to believe the person&rsquo;s conduct was unlawful. It
further provides that the termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of
nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner
which the person reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal
action or proceeding, had reasonable cause to believe that the person&rsquo;s conduct was unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Section 145(b) of the DGCL provides that a
corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed
action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that the person is or was
a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer,
employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys&rsquo;
fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit if the person
acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation and
except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged
to be liable to the corporation unless and only to the extent that the Delaware Court of Chancery or the court in which such action or
suit was brought shall determine upon application that, despite the adjudication of liability but in view of all of the circumstances
of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Delaware Court of Chancery or such
other court shall deem proper.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Section 145(c) of the DGCL provides that to
the extent that a present or former director or officer of a corporation has been successful on the merits or otherwise in defense of
any action, suit or proceeding referred to in subsections (a) and (b) of Section 145 of the DGCL, or in defense of any claim, issue or
matter therein, such person shall be indemnified against expenses (including attorneys&rsquo; fees) actually and reasonably incurred by
such person in connection therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Section 145(e) of the DGCL provides that expenses
(including attorneys&rsquo; fees) incurred by an officer or director of the corporation in defending any civil, criminal, administrative
or investigative action, suit or proceeding may be paid by the corporation in advance of the final disposition of such action, suit or
proceeding upon receipt of an undertaking by or on behalf of such director or officer to repay such amount if it shall ultimately be determined
that such person is not entitled to be indemnified by the corporation as authorized in Section 145 of the DGCL. Such expenses, (including
attorneys&rsquo; fees) incurred by former directors and officers or other persons serving at the request of the corporation as directors,
officers, employees or agents of another corporation, partnership, joint venture, trust or other enterprise may be so paid upon such terms
and conditions, if any, as the corporation deems appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Section 145(g) of the DGCL specifically allows
a Delaware corporation to purchase liability insurance on behalf of its directors and officers and to insure against potential liability
of such directors and officers regardless of whether the corporation would have the power to indemnify such directors and officers under
Section 145 of the DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Section 102(b)(7) of the DGCL provides
that a corporation may eliminate or limit the personal liability of a director or officer to the corporation or its stockholders for
monetary damages for breach of fiduciary duty as a director or officer, provided that such provisions shall not eliminate or limit
the liability of (1) a director or officer for any breach of the director&rsquo;s or officer&rsquo;s duty of loyalty to the
corporation or its stockholders, (2) a director or officer for acts or omissions not in good faith or that involve intentional
misconduct or a knowing violation of law, (3) a director under Section 174 of the DGCL; (4) for any transaction from which the
director or officer derived an improper personal benefit; or (5) an officer in any action by or in the right of the corporation. No
such provision shall eliminate or limit the liability of a director or officer for any act or omission occurring before the date
when such provision becomes effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Section 145 of the DGCL makes provision for
the indemnification of officers and directors in terms sufficiently broad to indemnify the Registrant&rsquo;s officers and directors under
certain circumstances from liabilities (including reimbursement for expenses incurred) arising under the Securities Act. The Registrant&rsquo;s
bylaws provide that, subject to certain exceptions contained therein, to the fullest extent and under the circumstances permitted by Section
145 of the DGCL, the Registrant will indemnify and advance expenses on behalf of any and all of its officers and directors. The Registrant&rsquo;s
certificate of incorporation provides that the Registrant&rsquo;s directors shall not be liable for monetary damages to the Registrant
or its stockholders for breach of such director&rsquo;s fiduciary duty as a director to the fullest extent permitted by the DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Registrant has purchased insurance policies
which, within the limits and subject to the terms and conditions thereof, cover certain expenses and liabilities that may be incurred
by directors and officers in connection with proceedings that may be brought against them as a result of an act or omission committed
or suffered while acting as the Registrant&rsquo;s director or officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Registrant has entered into indemnification
agreements with each of its officers (as defined under Rule 16a-1(f) under the Exchange Act) and directors. The indemnification agreements
provide officers and directors subject to Section 16 of the Exchange Act with contractual rights to indemnification, expense advancement
and reimbursement, to the fullest extent permitted under the DGCL, subject to certain exceptions contained in those agreements.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Item 7.</TD><TD>Exemption from Registration Claimed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Not applicable.</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Item 8.</TD><TD>Exhibits.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">The following Exhibit Index is filed as part of this Registration
Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>EXHIBIT INDEX</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; border: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><B>Exhibit
    Number</B></FONT></TD>
    <TD STYLE="width: 86%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><B>Description
    of Document</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt">4.1</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1880661/000119312522301065/d410572dex31.htm">Certificate of Incorporation of TPG Inc. (incorporated by reference to Exhibit 3.1 to the Registrant&rsquo;s Periodic Report on Form 8-K, filed with the SEC on December 8, 2022 (Commission File No: 001-41222))</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt">4.2</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1880661/000119312522008306/d77435dex42.htm">Bylaws of TPG Inc. (incorporated by reference to Exhibit 4.2 to the Registrant&rsquo;s Registration Statement on Form S-8, filed with the SEC on January 13, 2022 (Commission File No.: 333-262140))</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt">5.1*</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><A HREF="ss1611267_ex0501.htm">Opinion of Shearman &amp; Sterling LLP</A> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt">23.1*</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><A HREF="ss1611267_ex2301.htm">Consent of Deloitte &amp; Touche LLP as to TPG Partners, LLC</A> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt">23.2*</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><A HREF="ss1611267_ex2302.htm">Consent of Deloitte &amp; Touche LLP as to TPG Group Holdings (SBS), L.P.</A> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt">23.3*</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><A HREF="ss1611267_ex0501.htm">Consent of Shearman &amp; Sterling LLP (contained in the Opinion filed as Exhibit 5.1)</A> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt">24.1*</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt"><A HREF="#a_001">Power of Attorney (contained on the signature pages hereto)</A> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">99.1</TD>
    <TD STYLE="padding-bottom: 12pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1880661/000119312522008306/d77435dex991.htm">TPG Inc. Omnibus Equity Incentive Plan (incorporated by reference to Exhibit 99.1 to the Registrant&rsquo;s Registration Statement on Form S-8, filed with the SEC on January 13, 2022 (Commission File No.: 333-262140))</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">107*</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="ss1611267_ex107.htm">Filing Fees</A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">* Filed herewith</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Item 9.</TD><TD>Undertakings.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The undersigned Registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(1) To file, during any period in which offers
or sales are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(i) To include any prospectus required by Section
10(a)(3) of the Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(ii) To reflect in the prospectus any facts
or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(iii) To include any material information with
respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information
in the registration statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">provided, however, that paragraphs (i) and
(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic
reports filed with or furnished to the SEC by the Registrant pursuant to Section 13 or 15(d) of the Exchange Act that are incorporated
by reference in the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(2) That, for the purpose of determining any
liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to
the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide </I>offering
thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(3) To remove from registration by means of
a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The undersigned Registrant hereby undertakes
that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&rsquo;s annual report pursuant
to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report
pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a
new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed
to be the initial <I>bona fide </I>offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The undersigned Registrant further undertakes
that, insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Pursuant to the requirements of the Securities
Act, the Registrant certifies that it has reasonable grounds to believe that it meets all the requirements for filing on Form S-8 and
has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Fort
Worth, State of Texas, on January 5, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>TPG INC.</B></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 10%">By:</TD>
    <TD STYLE="vertical-align: bottom; width: 40%; border-bottom: black 1pt solid">/s/ Jon Winkelried</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Name: &nbsp;Jon Winkelried</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Title: &nbsp;Chief Executive Officer and Director</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="a_001" TITLE="POA"></A><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each person whose signature appears below constitutes
and appoints each of Jon Winkelried, Jack Weingart and Bradford Berenson, each of them severally, his or her true and lawful attorneys-in-fact
and agents, each of whom may act alone, with full power of substitution and resubstitution, for him or her and in his or her name, place
and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement
on Form S-8, and to sign any related registration statement that is to be effective upon filing pursuant to Rule 462(b) promulgated under
the Securities Act of 1933, as amended, and all post-effective amendments thereto, and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents,
and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about
the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that
said attorneys-in-fact and agents or any of them, or his, her or their substitute or substitutes, may lawfully do or cause to be done
by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Pursuant to the requirements of the Securities
Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities indicated on the 5<SUP>th</SUP>
day of January 2022.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 30%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 68%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>Signature</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><B>Title</B></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ David Bonderman</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Founding Partner, Non-Executive Chairman and Director</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">David Bonderman</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ James G. Coulter</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Founding Partner, Executive Chairman and Director</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">James G. Coulter</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Jon Winkelried</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Chief Executive Officer and Director (Principal Executive Officer)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Jon Winkelried</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Jack Weingart</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Chief Financial Officer and Director (Principal Financial Officer)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Jack Weingart</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Martin Davidson</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Chief Accounting Officer (Principal Accounting Officer)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Martin Davidson</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Todd Sisitsky</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Director</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Todd Sisitsky</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Anilu Vazquez-Ubarri</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Director</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Anilu Vazquez-Ubarri</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Maya Chorengel</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Director</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Maya Chorengel</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Jonathan Coslet</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Director</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Jonathan Coslet</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 10pt">/s/ Kelvin Davis</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Director</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Kelvin Davis</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Ganendran Sarvananthan</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Director</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Ganendran Sarvananthan</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    </TR></TABLE>

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    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 30%"><FONT STYLE="font-size: 10pt">/s/ David Trujillo</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; width: 68%">Director</TD></TR>
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    <TD ROWSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Director</TD></TR>
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    <TD COLSPAN="2">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Mary Cranston</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-align: left; vertical-align: bottom; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">Director</TD></TR>
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    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/
    Deborah M. Messemer</FONT></TD>
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    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"></TD></TR>
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    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Deborah M. Messemer</FONT></TD>
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    <TD ROWSPAN="2" STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">Director</TD></TR>
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[{"type": "S-8", "sequence": "1", "filename": "ss1611267_s8.htm", "description": "S-8", "secsgml_size_bytes": 55287}]
{"company-data": {"conformed-name": "TPG Inc.", "cik": "0001880661", "assigned-sic": "6282", "irs-number": "872063362", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-269137", "film-number": "23513313"}, "business-address": {"street1": "301 COMMERCE STREET", "street2": "SUITE 3300", "city": "FORT WORTH", "state": "TX", "zip": "76102", "phone": "817-871-4000"}, "mail-address": {"street1": "301 COMMERCE STREET", "street2": "SUITE 3300", "city": "FORT WORTH", "state": "TX", "zip": "76102"}, "former-company": {"former-conformed-name": "TPG Partners, LLC", "date-changed": "20210827"}}
As filed with the Securities and Exchange Commission
on January 5, 2023
Registration
No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
Registration Statement
under
The Securities Act of 1933
TPG Inc.
(Exact name of registrant as specified in its charter)
Delaware
301 Commerce Street, Suite 3300 Fort Worth, TX 76102
87-2063362
(State or other jurisdiction of incorporation or organization)
(Address of principal executive offices, including zip code)
(I.R.S employer identification no.)
TPG INC. OMNIBUS EQUITY INCENTIVE PLAN
(Full title of the plan)
Bradford Berenson, Esq.
General Counsel
345 California Street, Suite 3300
San Francisco, CA 94104
(Name and address of agent for service)
(415) 743-1500
(Telephone number, including area code, of agent for service)
With a copy to:
John J. Cannon III, Esq.
Gillian Emmett Moldowan, Esq.
Shearman & Sterling LLP
599 Lexington Avenue
New York, NY 10022
(212) 848-4000
Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of "large
accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company"
in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☐
Accelerated filer
☐
Non-accelerated filer
☒
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 7(a)(2)(B) of the Securities Act.
EXPLANATORY NOTE
This Registration Statement
registers an additional 12,797,983 shares of the Registrant's Class A common stock, $0.001 par value per share (the
"
Common Stock
"), that may be offered and sold under the TPG Inc. Omnibus Equity Incentive Plan (the
"
Plan
").
These additional shares of Common Shares are additional securities
of the same class as other securities for which an original registration statement (File No. 333-262140) on Form S-8 was filed with
the Securities and Exchange Commission (the "Commission") on January 13, 2021.
The number of shares of Common
Stock available for issuance under the stockholder-approved Plan is subject to an automatic annual increase on the first day of each
of the Registrant's fiscal years beginning on January 1, 2023 and ending on the last January 1st during the initial
ten-year term of the Plan, by an amount equal to
the amount (if any)
by which (a)
10% of the aggregate number of outstanding shares of Common Stock on a fully converted and diluted
basis (assuming the redemption of all then outstanding common units and promote units of the TPG Operating Group) on the last day of
the immediately preceding fiscal year exceeds (b) the aggregate number of shares of Common Stock available for issuance under
this Plan, unless the administrator of the Plan should decide to increase the number of shares of Common Stock available under this
Plan by a lesser amount. For 2023, the administrator authorized an increase of 12,797,983 shares of Common Stock under
the Plan, consisting of the full increase allowed pursuant to the Plan's evergreen provision.
Part
I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The information required by Item 1 and Item
2 of Part I of Form S-8 is omitted from this filing in accordance with Rule 428 under the Securities Act and the introductory note to
Part I of Form S-8. The documents containing the information specified in Part I will be delivered to the participants in the Plan covered
by this Registration Statement as required by Rule 428(b)(1) under the Securities Act.
Part
II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference.
The following documents filed by the Registrant
with the Securities and Exchange Commission (the "
SEC
") are incorporated herein by reference:
(a)
The Registrant's Annual Report on
Form 10-K
for the fiscal year ended December 31, 2021, filed with
the SEC on March 29, 2022 (File No. 001-04321);
(b)
The Registrant's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30,
2022 and September 30, 2022, filed with the SEC on
May 12, 2022
,
August 9, 2022
and
November 9, 2022
;
(c)
The Registrant's Current Reports on Form 8-K filed with the SEC since December 31, 2021
(other
than portions of those documents furnished or otherwise not deemed to be filed)
; and
(d)
The description of the Registrant's securities contained in the Registrant's Registration
Statement on
Form 8-A
(File No. 001-41222) filed with the SEC under the Securities Exchange Act of 1934, as amended (the "
Exchange
Act
"), on January 13, 2022, including any other amendment or report filed for the purpose of updating such description.
In addition, all documents subsequently filed
by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment
which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference herein and to be a part hereof from the date of filing of such documents;
provided
,
however
,
that information deemed to have been furnished and not filed shall not be deemed to be incorporated by reference into this Registration
Statement. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified
or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently
filed document that also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement
so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4.
Description of Securities.
Not applicable.
Item 5.
Interests of Named Experts and Counsel.
Not applicable.
Item 6.
Indemnification of Directors and Officers.
Section 145(a) of the Delaware General Corporation
Law (the "
DGCL
") provides that a corporation may indemnify any person who was or is a party or is threatened to be
made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative
(other than an action by or in the right of the corporation) by reason of the fact that the person is or was a director, officer, employee
or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees), judgments, fines
and amounts paid in settlement actually and reasonably incurred by the person in connection with such action, suit or proceeding if the
person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation,
and, with respect to any criminal action or proceeding, had no reasonable cause to believe the person's conduct was unlawful. It
further provides that the termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of
nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner
which the person reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal
action or proceeding, had reasonable cause to believe that the person's conduct was unlawful.
Section 145(b) of the DGCL provides that a
corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed
action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that the person is or was
a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer,
employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys'
fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit if the person
acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation and
except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged
to be liable to the corporation unless and only to the extent that the Delaware Court of Chancery or the court in which such action or
suit was brought shall determine upon application that, despite the adjudication of liability but in view of all of the circumstances
of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Delaware Court of Chancery or such
other court shall deem proper.
Section 145(c) of the DGCL provides that to
the extent that a present or former director or officer of a corporation has been successful on the merits or otherwise in defense of
any action, suit or proceeding referred to in subsections (a) and (b) of Section 145 of the DGCL, or in defense of any claim, issue or
matter therein, such person shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred by
such person in connection therewith.
Section 145(e) of the DGCL provides that expenses
(including attorneys' fees) incurred by an officer or director of the corporation in defending any civil, criminal, administrative
or investigative action, suit or proceeding may be paid by the corporation in advance of the final disposition of such action, suit or
proceeding upon receipt of an undertaking by or on behalf of such director or officer to repay such amount if it shall ultimately be determined
that such person is not entitled to be indemnified by the corporation as authorized in Section 145 of the DGCL. Such expenses, (including
attorneys' fees) incurred by former directors and officers or other persons serving at the request of the corporation as directors,
officers, employees or agents of another corporation, partnership, joint venture, trust or other enterprise may be so paid upon such terms
and conditions, if any, as the corporation deems appropriate.
Section 145(g) of the DGCL specifically allows
a Delaware corporation to purchase liability insurance on behalf of its directors and officers and to insure against potential liability
of such directors and officers regardless of whether the corporation would have the power to indemnify such directors and officers under
Section 145 of the DGCL.
Section 102(b)(7) of the DGCL provides
that a corporation may eliminate or limit the personal liability of a director or officer to the corporation or its stockholders for
monetary damages for breach of fiduciary duty as a director or officer, provided that such provisions shall not eliminate or limit
the liability of (1) a director or officer for any breach of the director's or officer's duty of loyalty to the
corporation or its stockholders, (2) a director or officer for acts or omissions not in good faith or that involve intentional
misconduct or a knowing violation of law, (3) a director under Section 174 of the DGCL; (4) for any transaction from which the
director or officer derived an improper personal benefit; or (5) an officer in any action by or in the right of the corporation. No
such provision shall eliminate or limit the liability of a director or officer for any act or omission occurring before the date
when such provision becomes effective.
Section 145 of the DGCL makes provision for
the indemnification of officers and directors in terms sufficiently broad to indemnify the Registrant's officers and directors under
certain circumstances from liabilities (including reimbursement for expenses incurred) arising under the Securities Act. The Registrant's
bylaws provide that, subject to certain exceptions contained therein, to the fullest extent and under the circumstances permitted by Section
145 of the DGCL, the Registrant will indemnify and advance expenses on behalf of any and all of its officers and directors. The Registrant's
certificate of incorporation provides that the Registrant's directors shall not be liable for monetary damages to the Registrant
or its stockholders for breach of such director's fiduciary duty as a director to the fullest extent permitted by the DGCL.
The Registrant has purchased insurance policies
which, within the limits and subject to the terms and conditions thereof, cover certain expenses and liabilities that may be incurred
by directors and officers in connection with proceedings that may be brought against them as a result of an act or omission committed
or suffered while acting as the Registrant's director or officer.
The Registrant has entered into indemnification
agreements with each of its officers (as defined under Rule 16a-1(f) under the Exchange Act) and directors. The indemnification agreements
provide officers and directors subject to Section 16 of the Exchange Act with contractual rights to indemnification, expense advancement
and reimbursement, to the fullest extent permitted under the DGCL, subject to certain exceptions contained in those agreements.
Item 7.
Exemption from Registration Claimed.
Not applicable.
Item 8.
Exhibits.
The following Exhibit Index is filed as part of this Registration
Statement.
EXHIBIT INDEX
Exhibit
    Number
Description
    of Document
4.1
Certificate of Incorporation of TPG Inc. (incorporated by reference to Exhibit 3.1 to the Registrant's Periodic Report on Form 8-K, filed with the SEC on December 8, 2022 (Commission File No: 001-41222))
4.2
Bylaws of TPG Inc. (incorporated by reference to Exhibit 4.2 to the Registrant's Registration Statement on Form S-8, filed with the SEC on January 13, 2022 (Commission File No.: 333-262140))
5.1*
Opinion of Shearman & Sterling LLP
23.1*
Consent of Deloitte & Touche LLP as to TPG Partners, LLC
23.2*
Consent of Deloitte & Touche LLP as to TPG Group Holdings (SBS), L.P.
23.3*
Consent of Shearman & Sterling LLP (contained in the Opinion filed as Exhibit 5.1)
24.1*
Power of Attorney (contained on the signature pages hereto)
99.1
TPG Inc. Omnibus Equity Incentive Plan (incorporated by reference to Exhibit 99.1 to the Registrant's Registration Statement on Form S-8, filed with the SEC on January 13, 2022 (Commission File No.: 333-262140))
107*
Filing Fees
* Filed herewith
Item 9.
Undertakings.
The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers
or sales are being made, a post-effective amendment to this registration statement:
(i) To include any prospectus required by Section
10(a)(3) of the Securities Act;
(ii) To reflect in the prospectus any facts
or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement; and
(iii) To include any material information with
respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information
in the registration statement;
provided, however, that paragraphs (i) and
(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic
reports filed with or furnished to the SEC by the Registrant pursuant to Section 13 or 15(d) of the Exchange Act that are incorporated
by reference in the registration statement.
(2) That, for the purpose of determining any
liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to
the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering
thereof.
(3) To remove from registration by means of
a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
The undersigned Registrant hereby undertakes
that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant
to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report
pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a
new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed
to be the initial
bona fide
offering thereof.
The undersigned Registrant further undertakes
that, insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.
In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities
Act, the Registrant certifies that it has reasonable grounds to believe that it meets all the requirements for filing on Form S-8 and
has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Fort
Worth, State of Texas, on January 5, 2022.
TPG INC.
By:
/s/ Jon Winkelried
Name:  Jon Winkelried
Title:  Chief Executive Officer and Director
POWER OF ATTORNEY
Each person whose signature appears below constitutes
and appoints each of Jon Winkelried, Jack Weingart and Bradford Berenson, each of them severally, his or her true and lawful attorneys-in-fact
and agents, each of whom may act alone, with full power of substitution and resubstitution, for him or her and in his or her name, place
and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement
on Form S-8, and to sign any related registration statement that is to be effective upon filing pursuant to Rule 462(b) promulgated under
the Securities Act of 1933, as amended, and all post-effective amendments thereto, and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents,
and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about
the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that
said attorneys-in-fact and agents or any of them, or his, her or their substitute or substitutes, may lawfully do or cause to be done
by virtue hereof.
Pursuant to the requirements of the Securities
Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities indicated on the 5
th
day of January 2022.
Signature
Title
/s/ David Bonderman
Founding Partner, Non-Executive Chairman and Director
David Bonderman
/s/ James G. Coulter
Founding Partner, Executive Chairman and Director
James G. Coulter
/s/ Jon Winkelried
Chief Executive Officer and Director (Principal Executive Officer)
Jon Winkelried
/s/ Jack Weingart
Chief Financial Officer and Director (Principal Financial Officer)
Jack Weingart
/s/ Martin Davidson
Chief Accounting Officer (Principal Accounting Officer)
Martin Davidson
/s/ Todd Sisitsky
Director
Todd Sisitsky
/s/ Anilu Vazquez-Ubarri
Director
Anilu Vazquez-Ubarri
/s/ Maya Chorengel
Director
Maya Chorengel
/s/ Jonathan Coslet
Director
Jonathan Coslet
/s/ Kelvin Davis
Director
Kelvin Davis
/s/ Ganendran Sarvananthan
Director
Ganendran Sarvananthan
/s/ David Trujillo
Director
David Trujillo
/s/ Gunther Bright
Director
Gunther Bright
/s/ Mary Cranston
Director
Mary Cranston
/s/
    Deborah M. Messemer
Deborah M. Messemer
Director