Achieved record annual economic earnings per share of $26.50, driven by accelerating evolution toward private markets and liquid alternatives. Generated $29,000,000,000 in annual net client cash flows, the highest level since 2013, representing a 4% organic growth rate. Successfully pivoted the business mix to alternatives, which now contribute approximately 60% of EBITDA, up from roughly one-third six years ago. Deployed over $1,000,000,000 in capital across five new affiliate investments and strat ...

Affiliated Managers Group (NYSE:AMG) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Company ParticipantsBrian Bedell - DirectorDava Ritchea - CFOJay Horgen - CEOPatricia Figueroa - VP of Investor RelationsThomas Wojcik - President and COOConference Call ParticipantsAlexander Blostein - Managing Director and Senior AnalystDan Fannon - Managing Director and Research AnalystWilliam Katz - Senior Equity AnalystOperatorGreetings, and welcome to the AMG fourth quarter 2025 earnings call. At this time, all pa ...

Financial Data and Key Metrics Changes - AMG reported full-year economic earnings per share of $26.05, a 22% increase year-over-year, driven by strong organic growth and capital allocation strategy [4][27] - Adjusted EBITDA for the fourth quarter was $378 million, growing 34% year-over-year, while full-year Adjusted EBITDA reached $1.1 billion, up 11% from 2024 [25][26] - Economic earnings per share for the fourth quarter were $9.48, reflecting a 45% year-over-year growth [27] Business Line Data and Key Metrics Changes - AMG's affiliates generated approximately $29 billion in annual net client cash flows, representing an organic growth rate of 4% [4] - The company added approximately $97 billion in alternative assets under management (AUM), a 35% increase, with $74 billion in net inflows from existing affiliates and $23 billion from new partnerships [5][11] - Fee-related earnings grew 20% year-over-year for the fourth quarter and 8% for the full year, driven by investment performance and organic growth [26] Market Data and Key Metrics Changes - AMG's private markets affiliates raised $9 billion in the fourth quarter, bringing full-year fundraising to $24 billion, representing an 18% annualized organic growth rate [18] - In liquid alternatives, AMG posted record net inflows of $15 billion in the fourth quarter and $51 billion for the full year, reflecting a 36% annualized organic growth rate [17] - The company experienced net outflows of approximately $12 billion in equities for the quarter and $45 billion for the year, indicating industry headwinds [20] Company Strategy and Development Direction - AMG's strategy focuses on expanding its footprint in private markets and liquid alternatives, with a commitment to invest in high-quality affiliates and innovative product development [12][19] - The company aims to enhance its U.S. wealth platform, which has reached approximately $8 billion in alternative AUM, and continues to innovate in product offerings [21][22] - AMG plans to repurchase at least $400 million in shares in 2026, reflecting its commitment to return capital to shareholders while pursuing growth investments [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term prospects of the business, highlighting the strong momentum in alternatives and the ongoing demand for liquid alternative strategies [12][16] - The company anticipates continued growth from existing affiliates, particularly AQR and Pantheon, which are expected to contribute significantly to earnings in 2026 [30][66] - AMG's reputation and capital flexibility are at an all-time high, positioning the company for further success in the coming years [13] Other Important Information - AMG repurchased approximately $700 million of its shares in 2025, representing 11% of shares outstanding [5] - The company has committed over $1 billion in capital across five new investments, indicating a strong pipeline for growth [6][33] - The departure of Tom Wojcik, the CFO, was acknowledged, with management expressing confidence in the leadership team's ability to continue executing the company's strategy [14][15] Q&A Session Summary Question: Outlook for AQR in 2026 - Management noted that AQR is expected to be a more meaningful contributor in 2026, with strong organic growth and diverse flows across various strategies [38][40] Question: Pipeline for Private Markets in 2026 - Management highlighted Pantheon's expertise in secondaries and the ongoing innovation in private markets products, which are expected to drive organic growth [47][49] Question: Global Wealth Management Growth - Management discussed the significant growth in the U.S. wealth management platform and the potential for growth in international markets, emphasizing a holistic approach to wealth distribution [58][61] Question: Performance Fees Outlook - Management indicated that AQR contributed a double-digit percentage to EBITDA in 2025 and is expected to exceed 20% in 2026, with a stable and predictable earning stream from performance fees [64][66]

Affiliated Managers Group (NYSE:AMG) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Speaker6Greetings, and welcome to the AMG fourth quarter 2025 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the call over to your host, P ...

Affiliated Managers Group (AMG) came out with quarterly earnings of $9.48 per share, beating the Zacks Consensus Estimate of $8.75 per share. This compares to earnings of $6.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +8.34%. A quarter ago, it was expected that this asset manager would post earnings of $5.83 per share when it actually produced earnings of $6.1, delivering a surprise of +4.63%.Over the last four quarters ...

Q4 2025 Investor Overview AMG: Strategic Partner to Industry-Leading Independent Investment Firms 30+ years of partnering with leading investment specialists ~40 independent Affiliates offering diverse suite of investment products ~$813B Assets Under Management Industry-Leading Independent Managers Attractive partnership model self-selects entrepreneurial, growing firms and enables access to specialist capabilities at scale High-Quality, Diverse Product Set Excellent breadth and quality of products managed ...

Exhibit 99.1 +1 (617) 747-3300 ir@amg.com pr@amg.com AMG Reports Financial and Operating Results for the Fourth Quarter and Full Year 2025 Company reports Diluted EPS of $11.21, Economic EPS of $9.48 in the fourth quarter of 2025 Diluted EPS of $22.74, Economic EPS of $26.05 for the full year 2025 WEST PALM BEACH, FL, February 12, 2026 — AMG, a strategic partner to leading independent investment management firms globally, today reported its financial and operating results for the fourth quarter and year end ...

Core Insights - AMG reported strong financial results for 2025, with Economic EPS growth of 22% and net inflows of approximately $29 billion, indicating successful strategic execution in private markets and liquid alternatives [2][6]. Financial Performance - For Q4 2025, AMG's diluted EPS was $11.21 and Economic EPS was $9.48, while for the full year, diluted EPS reached $22.74 and Economic EPS was $26.05 [1][6]. - Full-year net income (controlling interest) was $717 million, with Economic net income at $769 million [6][21]. - AMG's total assets under management (AUM) increased to approximately $813 billion by the end of 2025, up from $707.9 billion at the end of 2024 [4][24]. Growth Investments - In 2025, AMG committed over $1 billion across four new Affiliates in private markets and liquid alternatives, reflecting a focus on growth areas [3][6]. - AMG's private markets Affiliates managed approximately $146 billion in assets and raised about $24 billion in 2025, while liquid alternative strategies generated record net inflows of approximately $51 billion [4][6]. Capital Management - The company repurchased approximately $700 million in common stock during 2025, representing about 11% of shares outstanding [6][8]. - AMG issued $425 million in senior notes due 2036, simplifying its capital structure and reducing share count dilution [8]. Strategic Positioning - AMG is well-positioned for future growth with an expanding presence in the U.S. wealth marketplace and strong organic growth from existing Affiliates [5][6]. - The company continues to attract high-quality partnerships, enhancing its ability to invest in growth opportunities [5][6].

Increased investment deepens AMG’s partnership with Garda, a leading liquid alternatives manager specializing in fixed income relative value, with an excellent long-term investment track recordGarda will remain majority-owned and led by its management teamTransaction is aligned with AMG’s long-term growth strategy and further expands Company’s exposure to alternative strategies through an increased investment in an attractive, differentiated liquid alternatives manager WEST PALM BEACH, Fla., Feb. 12, 2026 ( ...

Core Viewpoint - AMG has acquired a minority equity interest in HighBrook Investors, a real estate investment manager, to enhance its strategic partnership and expand its presence in global private markets [1][6]. Company Overview - AMG is a strategic partner to independent investment management firms globally, focusing on generating long-term value through investments in high-quality, partner-owned firms [4]. - As of December 31, 2025, AMG managed approximately $813 billion in assets across various investment strategies, including private markets and liquid alternatives [4]. HighBrook Investors - Founded in 2010, HighBrook specializes in value-add real estate investment opportunities in the U.S. and Europe, with a focus on high-growth areas such as last-mile logistics and data centers [2][5]. - HighBrook has committed over $2.3 billion in equity across more than 80 investments, resulting in a gross asset value of approximately $5.7 billion [2]. Strategic Partnership - The partnership with AMG is expected to provide HighBrook with access to strategic capabilities and growth capital, allowing it to scale its platform while maintaining its independence [3][6]. - HighBrook's management team will retain majority equity and continue to direct day-to-day operations, ensuring continuity in leadership [3]. Market Focus - HighBrook targets thematic value-add opportunities driven by macro trends, particularly in sectors benefiting from e-commerce growth and digital infrastructure expansion [3][6].