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Silvercrest Asset Management Group Inc. Reports Q4 and Year-End 2024 Results
SAMGSilvercrest Asset Management Group(SAMG) GlobeNewswire News Room·2025-03-06 21:01

Core Viewpoint - Silvercrest Asset Management Group Inc. reported strong financial results for the year ended December 31, 2024, with significant growth in assets under management (AUM) and revenue, driven by new client inflows and strategic investments made throughout the year [2][3][19]. Financial Performance - Total AUM reached 36.5billionasofDecember31,2024,representinga9.636.5 billion as of December 31, 2024, representing a 9.6% increase from 33.3 billion at year-end 2023 [3][12]. - Discretionary AUM rose by 6.4% to 23.3billionfrom23.3 billion from 21.9 billion, primarily due to market appreciation of 2.1billion,despitenetclientoutflowsof2.1 billion, despite net client outflows of 0.7 billion [12][19]. - Revenue for the year increased by 5.3% to 123.7millionfrom123.7 million from 117.4 million, with Q4 revenue up 12.0% to 32.0millionfrom32.0 million from 28.5 million [3][19][21]. Client Inflows and Strategic Initiatives - Silvercrest achieved 1.4billioninnewclientAUMinflowsinQ4and1.4 billion in new client AUM inflows in Q4 and 1.5 billion for the entire year, marking the best year for new organic client inflows since 2015 [2][5]. - A significant seed investment of 1.3billioninthenewGlobalValueEquitystrategywassecuredinpartnershipwithCBUS,oneofAustralia′slargestsuperannuationfunds[2][5].−ThefirmhasexpandeditsbusinessdevelopmenteffortsbyhiringnewleadsinAtlantaandSingaporeandhasobtainedafullMASlicenseforoperationsinSingapore[4][5].OperationalEfficiency−Totalexpensesfortheyearincreasedby7.51.3 billion in the new Global Value Equity strategy was secured in partnership with CBUS, one of Australia's largest superannuation funds [2][5]. - The firm has expanded its business development efforts by hiring new leads in Atlanta and Singapore and has obtained a full MAS license for operations in Singapore [4][5]. Operational Efficiency - Total expenses for the year increased by 7.5% to 106.0 million, with compensation and benefits expenses rising by 5.6% to 76.7million[20][21].−AdjustedEBITDAfortheyearwas76.7 million [20][21]. - Adjusted EBITDA for the year was 26.1 million, representing a margin of 21.1%, compared to $26.9 million and a margin of 22.9% in the previous year [22][38]. Market Position and Future Outlook - The firm has developed stronger institutional consulting relationships and maintains a robust pipeline for future investment opportunities [5][6]. - Silvercrest is optimistic about securing significant new organic flows in 2025, which are expected to enhance revenue and return on invested capital [2][5].