Q1 2025 Affiliated Managers Group Inc Earnings Call Transcript
Key Points
- Affiliated Managers Group Inc (AMG) reported a record $14 billion in net client cash inflows into alternative strategies, driven by significant momentum at two of their largest Affiliates, AQR and Pantheon.
- The company announced three new partnerships in 2025 with NorthBridge, Verition, and Qualitas Energy, committing approximately $700 million to these new partnerships.
- AMG's liquid alternatives segment saw $10 billion in net inflows, marking the strongest quarterly flow number in liquid alternatives in the company's history.
- The company repurchased $173 million in additional shares in the first quarter, demonstrating a commitment to returning capital to shareholders.
- AMG's private markets Affiliates raised $3 billion in the quarter, reflecting strong investor conviction in their specialist investment strategies.
- AMG reported a 12% year-over-year decline in adjusted EBITDA, driven by lower performance fees and a comparison to a one-time private market catch-up fee from the prior year.
- Net outflows of approximately $14 billion were observed in the equities segment, reflecting industry and near-term performance headwinds.
- Economic earnings per share declined by 3% year over year, despite benefiting from share repurchases.
- A $77 million write-down was recorded due to the indefinite lives carrying value of certain mutual fund assets and a product closure at a fundamental equity Affiliate.
- The company expects adjusted EBITDA to be lower in the second quarter, ranging between $210 million and $225 million, due to seasonably lower net performance fees.
Greetings and welcome to the AMG first quarter of 2025 earnings call. (Operator Instructions) As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Ms. Patricia Figueroa, Head of Investor Relations for AMG. Thank you. You may begin.
Good afternoon and thank you for joining us today to discuss AMG's results for the first quarter of 2025. Before we begin, I'd like to remind you that during this call, we may make a number of forward-looking statements, which could differ from our actual results materially, and AMG assumes no obligation to update these statements.
Also, please note that nothing on this call constitutes an offer of any products, investment vehicles, or services of any AMG Affiliate.
A replay of today's call will be available on the investor relations section of our website, along with a copy of our earnings release and a reconciliation of any non-GAAP financial measures, including any earnings
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
