ANGELO GORDON & CO., L.P. 4
4 · TPG Twin Brook Capital Income Fund · Filed Jul 1, 2026
Research Summary
AI-generated summary of this filing
TPG Twin Brook Capital Income Fund — 10% Owner TPG GP A Buys $100M
What Happened
- TPG GP A, LLC (reported as a 10% owner) purchased 3,966,554.017 common shares of TPG Twin Brook Capital Income Fund on 2026-06-29 at $25.21 per share, for a total transaction value of $100,000,000. The filing reports the acquisition (transaction code P — purchase; open market or private purchase).
Key Details
- Transaction date and price: 2026-06-29 @ $25.21 per share.
- Shares acquired: 3,966,554.017; total value: $100,000,000.
- Shares owned after transaction: not specified in the excerpted details of this filing.
- Filing date: Form 4 filed 2026-07-01 (filed within two days of the transaction — appears timely).
- Signature/authorization: Gerald Neugebauer signed on behalf of James G. Coulter and Jon Winkelried per previously filed authorization letters.
- Important footnotes: (1) TPG GP A is controlled by entities tied to James Coulter and Jon Winkelried and is reported together with AG GP/Angelo Gordon as the “Reporting Persons”; (2) Angelo Gordon and related BDC entities directly hold additional common shares of the issuer; (3) the Reporting Persons state they may be deemed to beneficially own reported shares only to the extent of their pecuniary interests and expressly disclaim broader beneficial ownership; (4) this is an institutional/affiliate filing, not an individual executive’s trade.
Context
- This is a large institutional acquisition by an entity affiliated with TPG principals and Angelo Gordon. The filing reflects an acquisition (purchase) rather than a sale; it does not state motivations. As a 10% owner/institutional reporting person, the filing includes standard disclaimers about beneficial ownership being limited to pecuniary interests.
Insider Transaction Report
Form 4
TPG GP A, LLC
10% Owner
Transactions
- Purchase
Common shares of beneficial interest, Class I
[F3][F1][F2][F4][F5]2026-06-29$25.21/sh+3,966,554.017$100,000,000→ 21,187,317.535 total(indirect: See Explanation of Responses)
Holdings
- 161,736.426(indirect: See Explanation of Responses)
Common shares of beneficial interest, Class I
[F3][F1][F2][F4][F5]
Footnotes (5)
- [F1]Each of James G. Coulter and Jon Winkelried own entities that control TPG GP A, LLC ("TPG GP A"), which exercises direct or indirect control over entities that collectively hold 100% of the shares of Class B common stock (which represents a majority of the combined voting power of the common stock) of TPG Inc., which is the sole member of TPG GPCo, LLC, which is the sole member of TPG Holdings II-A, LLC, which is the general partner of TPG Operating Group II, L.P., which is the sole member of AG GP LLC ("AG GP"), which is the general partner of Angelo, Gordon & Co., L.P. ("Angelo Gordon" and, together with Messrs. Coulter and Winkelried, TPG GP A and AG GP, the "Reporting Persons").
- [F2]Angelo Gordon directly holds 161,736.426 Class I common shares of beneficial interest, par value $0.001 per share ("Common Shares"), of TPG Twin Brook Capital Income Fund (the "Issuer") and is the (i) sole member of AGTB BDC Holdings GP LLC, which is the general partner of AGTB BDC Holdings, L.P. ("BDC Holdings"), which directly holds 21,187,317.535 Common Shares; and (ii) investment advisor to BDC Holdings.
- [F3]Includes 244,270.618 Common Shares and 1,126.168 Common Shares directly held by BDC Holdings and Angelo Gordon, respectively, as a result of their participation in the Issuer's distribution reinvestment plan from time to time.
- [F4]Because of the relationship of the Reporting Persons to Angelo Gordon and BDC Holdings, the Reporting Persons may be deemed to beneficially own the securities reported herein to the extent of the greater of their respective direct or indirect pecuniary interests in the profits or capital accounts of Angelo Gordon and BDC Holdings. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of their pecuniary interest therein, if any.
- [F5]Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), this filing shall not be deemed an admission that the Reporting Persons are, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owners of any equity securities in excess of their respective pecuniary interests.