Group 1 - Blackstone plans to invest up to $500 billion in Europe over the next decade, having already invested nearly $100 billion in the U.K. [1][7] - The company's London office currently employs 650 people, indicating a strong presence in the region [1][7]. - Blackstone's CEO, Steve Schwarzman, believes that Europe's changing approach will lead to higher growth rates, presenting a "major opportunity" for the firm [3]. Group 2 - Recent interest in Europe from investment firms is driven by impressive growth prospects, influenced by geopolitical changes and increased defense spending in the European Union [2]. - Germany has approved historic spending plans, further enhancing the investment landscape in Europe [2]. - Blackstone's diversified products and revenue mix are expected to support growth in assets under management (AUM), with fee-earning AUM witnessing a compound annual growth rate (CAGR) of 15.3% over the past four years [5]. Group 3 - Despite a decline in segment revenues in 2023, Blackstone has a strong global presence and solid organic growth prospects, with a four-year CAGR of 15.6% [4]. - The company's shares have lost 24.9% over the past six months, compared to an industry decline of 11.2% [6].

Group 1: Acquisition Overview - Franklin Resources, Inc. (BEN) announced the acquisition of a majority interest in Apera Asset Management, a pan-European private credit firm with over €5 billion in assets under management (AUM) [1][9] - The acquisition is part of BEN's strategic push into private credit, expanding its direct lending capabilities in Europe's lower middle market, and is expected to close in the third quarter of 2025, pending regulatory approvals [2][3] Group 2: Impact on AUM and Strategic Positioning - Following the acquisition, BEN's global alternative credit AUM will increase to $87 billion, while total pro-forma AUM will reach approximately $260 billion as of April 30, 2025, reinforcing its leadership in diversified alternative investment strategies [3][9] - The acquisition will enhance BEN's private credit capabilities and diversify its geographic presence, complementing existing operations in the U.S. and Europe [3][4] Group 3: Leadership Statements - Jenny Johnson, CEO of Franklin Templeton, emphasized the acquisition as a commitment to building a world-class global alternatives platform and highlighted the value that Apera's expertise will bring to BEN's investment strategies [4] Group 4: Previous Growth Initiatives - Franklin has pursued growth through acquisitions and partnerships, including a strategic minority investment in Envestnet and a collaboration with Japan's SBI Holdings to focus on ETFs and digital assets [5][6] - The acquisition of Putnam Investments and Lexington Partners in previous years has also strengthened BEN's presence in retirement and private equity sectors [6][7] Group 5: Market Context - Over the past six months, BEN shares have gained 1%, contrasting with a 14.7% decline in the industry [8]

Summary of GCM Grosvenor (GCMG) FY Conference Call Company Overview - GCM Grosvenor is a 54-year-old firm headquartered in Chicago with offices in New York, London, Hong Kong, Tokyo, and Seoul [6] - The company manages $82 billion across a broad range of alternative investment strategies, primarily serving institutional clients [7] Core Business Insights - GCM Grosvenor has evolved significantly since its inception, adapting to changes in the alternative investment universe [11] - The firm has a proven track record of growth, managing over 20% of endowments and having multiple strategies on the efficient frontier [12] - The company emphasizes high-touch relationships with clients, which leads to long-term partnerships and a high average tenure of 15 years with top clients [30][31] Growth Strategies - The specialized fund business has grown to 30% of AUM and is experiencing a high growth rate, likely due to higher average fees and margins [16] - GCM Grosvenor employs an open architecture approach across various alternative strategies, including real assets, infrastructure, real estate, private equity, private credit, and hedge funds [18] - The firm is focused on expanding its presence in the individual investor market, which is currently under-allocated to private markets compared to institutional portfolios [54][55] Financial Performance - Since going public through a SPAC merger in Q4 2020, GCM Grosvenor has shown consistent growth in AUM, which drives earnings power [22] - The firm has a significant carry asset valued at approximately $415 million, which has yielded about 5% in revenue over the past few years due to muted transaction activity [24][26] - GCM Grosvenor aims to double its 2023 fee-related earnings by 2028, indicating strong growth expectations [58] Market Trends and Opportunities - There is a growing trend among institutional investors to increase their allocation to alternative investments, with over 70% indicating plans to do so [38][49] - The individual investor market presents a substantial opportunity for growth, as high-net-worth clients are significantly under-allocated to alternatives [54][55] - The firm is actively working to deliver an institutional experience to individual investors, which is expected to drive future growth [57] Client Relationships and Retention - GCM Grosvenor boasts a high re-up rate of over 90% for initial sales, with clients often increasing their investment upon reallocation [39][40] - The firm has established a culture of shared responsibility among its team members, fostering long-term relationships with clients [45][46] Conclusion - GCM Grosvenor is well-positioned for future growth, leveraging its strong client relationships, evolving market strategies, and a focus on both institutional and individual investors [59]

Press contact:Fahd PashaTel.: +1 647 860 3777E-mail: Fahd.Pasha@capgemini.com North America high-net-worth individual population surges, while Europe and Middle East shrink U.S. led the world in growth in its millionaire population, adding 562,000 to reach 7.9 millionUltra-high net worth individual population rises by 6.2% worldwide High-net-worth individuals now allocate 15% of their portfolios to alternative investments, including cryptocurrencies Paris, June 4, 2025 – The Capgemini Research Institute’s W ...

David A. Johnson is founder and principal of Endurance Capital Management, a New Jersey Limited Liability Company. As an investor entrepreneur, David invests in stocks, bonds, options, ETFs, REITs, real estate, closed end funds and alternative investment funds such as hedge funds and private credit. With over 30 years’ experience in investing, David holds a Master of Science (MS) Degree in Finance, with a concentration in Investment Analysis, from Boston University, a Certificate in Financial Planning, and ...

Core Insights - LPL Financial has launched an alternative investments education platform called Alts Learning Hub to assist advisors in integrating alternative investments into their practices [1][3] - The alternative assets market is projected to grow significantly, with advisor-intermediated illiquid alternative assets expected to increase from $1.4 trillion to $2.4 trillion in the next five years [2] - The platform aims to enhance advisor confidence and competence in alternative investments, which are becoming increasingly popular among high-net-worth and ultra-high-net-worth investors [2][3] Company Overview - LPL Financial Holdings Inc. is one of the fastest-growing wealth management firms in the U.S., supporting over 29,000 financial advisors and approximately 1,200 financial institutions [4] - The firm manages around $1.8 trillion in brokerage and advisory assets for approximately 7 million Americans, offering a variety of advisor affiliation models and investment solutions [4] Platform Features - The Alts Learning Hub provides a centralized source for alternative investments education, featuring curated content and resources from LPL, fund sponsors, and industry experts [6] - It offers a structured and user-friendly learning experience, simplifying the education process for financial professionals [6] - The platform includes a partnership with the Chartered Alternative Investment Analyst (CAIA) Association, providing on-demand learning with 15 CE credits for CIMA and CFP professionals [6]

Financial Data and Key Metrics Changes - First quarter reported adjusted net earnings were $91 million or $0.72 per share, compared to $108 million or $0.86 per share in the first quarter of 2024, reflecting a decrease of $17 million primarily driven by margin compression and higher interest expense [27][28] - First quarter adjusted return on assets (ROA) was 68 basis points, pressured from near-term headwinds, with a last twelve-month adjusted ROA of 100 basis points, down six basis points from the previous quarter [29] - Reported adjusted return on equity (ROE), excluding AOCI, was 9.7%, up 2.3% over the first quarter of 2024 [29] Business Line Data and Key Metrics Changes - F&G reported record assets under management (AUM) before flow reinsurance of $67.4 billion as of March 31, reflecting a 169% increase compared to the first quarter of 2024 [21] - Gross sales were $2.9 billion, a 17% decrease from the first quarter of 2024, primarily due to lower MYGA sales, while indexed annuity sales remained strong at $1.5 billion [21][22] - Pension risk transfer (PRT) sales were $311 million, down from $584 million in the first quarter of 2024, with funding agreements at $525 million compared to $105 million in the prior year [23] Market Data and Key Metrics Changes - The investment portfolio is well matched to the liability profile, with 96% of fixed maturities being investment grade, and credit-related impairments averaging six basis points over the last five years [12][29] - The fixed income yield was 4.53% in the first quarter, a decrease of three basis points from the first quarter of 2024, reflecting the runoff of higher-yielding in-force assets [13] Company Strategy and Development Direction - The company continues to diversify earnings between spread-based and fee-based sources, with a focus on optimizing return on capital and maintaining pricing discipline [19][20] - F&G is committed to achieving its 2023 Investor Day targets while navigating near-term headwinds and macro uncertainty [31] Management's Comments on Operating Environment and Future Outlook - Management believes that the near-term headwinds are temporary and expects improvement in sales and profitability throughout 2025 [7][9] - The company remains confident in its business model's resilience and its ability to generate long-term shareholder value despite current market volatility [84] Other Important Information - The company has successfully completed recent capital markets activities, including issuing $375 million of junior subordinated notes and a public offering of 8 million shares of common stock [30][31] - The owned distribution portfolio is performing well, with double-digit annual growth of EBITDA expected over the medium term [19] Q&A Session Summary Question: Growth opportunity for the Ryla product - Management expressed excitement about the Ryla product, noting that it has taken time to get onto platforms but is now adding broker dealers consistently, with medium-term potential in the billions [35][38] Question: Impact of lower industry volume on own distribution - Management indicated that the slowdown in owned distribution was balanced between industry volume and investments supported by the company, with a rebound observed in April [39][40] Question: Thoughts on capital deployment after raising common equity - Management stated that the capital raised would be deployed thoughtfully into new business, maintaining a disciplined approach to pricing and capital allocation [43][44] Question: Cost of funds increase and market competition - Management acknowledged the increase in cost of funds and attributed it to lower surrender income and market volatility, but remains disciplined in pricing [47][48] Question: Performance of the alternatives portfolio - Management noted that the direct lending portfolio performed well, while the limited partnerships came in lower than expectations, impacting overall yield [75][76] Question: Surrender activity expectations - Management projected that surrender activity would remain similar in Q2 compared to Q1, with ongoing uncertainty regarding future surrenders [78][80]

GCM Grosvenor (GCMG) Q1 2025 Earnings Call May 07, 2025 10:00 AM ET Speaker0 Good day, and welcome to the GCM Grosvenor First Quarter twenty twenty five Results Webcast. Later, we will conduct a question and answer session. If you're interested in asking a question, please ensure you dial in using the numbers you've been provided for this call and press star one on your keypad to join the queue. As a reminder, this call will be recorded. I would now like to hand the call over to Stacy Selinger, Head of Inve ...

Brookfield Asset Management (BAM 1.13%) has grown into one of the world's largest alternative asset managers. It has over $1 trillion in assets under management (AUM) across renewable power and transition, infrastructure, private equity, real estate, and credit. The company sees significant growth ahead over the next several years. Here's a look at where it will be five years from now.Cashing in on the growth in alternativesInvestors have been steadily shifting more of their portfolios into alternative inve ...

Core Viewpoint - Brookfield Asset Management has established a new Investment Solutions Group (ISG) led by Alper Daglioglu, aimed at providing tailored multi-asset portfolio solutions to institutional and private wealth clients globally [1][2]. Group 1: Leadership and Structure - Alper Daglioglu, with over two decades of experience at Morgan Stanley, has been appointed as the Managing Partner and Head of ISG at Brookfield [3][4]. - Howard Marks, Co-Chairman of Oaktree Capital Management, will serve as Chair of ISG, emphasizing the importance of multi-strategy portfolio solutions [1][4]. Group 2: Strategic Focus - ISG will focus on delivering innovative solutions that leverage Brookfield's investment capabilities across various sectors, including renewable power, infrastructure, private equity, real estate, and credit [2][5]. - The group will also utilize strategies from partner firms such as Oaktree, Castlelake, Primary Wave, and Pinegrove Capital Partners [2]. Group 3: Market Trends and Client Needs - There is a growing trend among clients to engage with fewer managers, seeking deeper partnerships and better insights to create greater value [4]. - The establishment of ISG is a response to this trend, aiming to meet clients' unique investing objectives through a strategic approach [4].