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].

Core Insights - AMG reported Economic Earnings per share of $5.20 for Q1 2025, indicating a positive impact from its capital allocation strategy and focus on areas of secular demand [2][4] - The company has formed three new partnerships in 2025, enhancing its exposure to alternative strategies and private markets [3][5] - AMG's strong capital position and diverse business model position it well to create shareholder value across market cycles [4] Financial Highlights - Assets Under Management (AUM) increased from $699.4 billion as of March 31, 2024, to $712.2 billion as of March 31, 2025 [4][11] - Average AUM rose from $680.0 billion to $712.1 billion year-over-year [4] - Net client cash flows improved from a negative $3.7 billion to a negative $0.4 billion [4] - Aggregate fees decreased from $1,471.6 million to $1,270.4 million [4] - Net income (controlling interest) fell from $149.8 million to $72.4 million [4][13] - Earnings per share (diluted) decreased from $4.14 to $2.20 [4][13] Capital Management - The company repurchased approximately $173 million in common stock during Q1 2025 [5] - Strong net client cash inflows in alternatives were approximately $14 billion, driven by liquid alternatives and private markets [5] - A cash dividend of $0.01 per share was announced, payable on June 2, 2025 [6] Partnership Developments - New partnerships include NorthBridge Partners, Verition Fund Management, and Qualitas Energy, which are expected to enhance AMG's business profile and participation in liquid alternatives and private markets [3][5]