Q2 2025 Affiliated Managers Group Inc Earnings Call Transcript
Key Points
- Affiliated Managers Group Inc (AMG) reported a 15% year-over-year growth in Economic Earnings per Share for the second quarter of 2025.
- The company achieved more than $8 billion in net client cash flows, marking the strongest organic growth quarter in 12 years.
- AMG added approximately $55 billion in alternative assets under management in the first half of 2025, increasing total alternative AUM by 20%.
- The company completed four new partnerships in 2025, including with Montefiore, a leading European private equity firm.
- AMG's strategic engagement and collaboration on capital formation initiatives are enabling Affiliates to access the expanding opportunity in the wealth marketplace.
- AMG experienced $11 billion in outflows from active equities, reflecting industry and near-term performance headwinds.
- The company's growth in alternatives is offset by outflows from fundamental equity strategies.
- AMG's third-quarter guidance includes seasonally lower net performance fees, impacting expected Adjusted EBITDA.
- The company's new investments will only have a partial year impact on 2025 earnings, with a step-up expected in 2026.
- AMG's share repurchases have significantly reduced the share count, raising concerns about liquidity and natural limits.
Greetings and welcome to AMG's second quarter 2025 earnings conference call. At this time, all participants are on a listen-only mode. (Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to introduce your host Patricia Figueroa, Head of Investor Relations.
Thank you. You may begin.
Good morning, and thank you for joining us today to discuss AMG's results for the second 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 reconciliations of any non
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