2025 Fourth Quarter and Full Year Results Earnings Presentation GCM Grosvenor Reports Q4 and Full Year 2025 Results CHICAGO, February 10, 2026 – GCM Grosvenor (Nasdaq: GCMG), a leading global alternative asset management solutions provider, today reported results for the fourth fiscal quarter ended December 31, 2025. Dividend GCM Grosvenor's Board of Directors approved a $0.12 per share dividend payable on March 16, 2026 to shareholders on record March 2, 2026. Conference Call Management will host a webcast ...

Core Insights - Apollo has appointed Diego De Giorgi as Partner and Head of EMEA, succeeding Rob Seminara, who will transition to new global responsibilities later this year [1][2][3] Company Overview - Apollo has approximately $155 billion of assets under management (AUM) in the EMEA region and employs nearly 600 professionals [4] - The firm has been actively investing in Europe, committing and deploying tens of billions in the past year across various sectors, including energy infrastructure, industrial manufacturing, and consumer retail [4] Leadership Transition - Diego De Giorgi brings over 30 years of experience in key leadership roles at major global banks, including Standard Chartered, Bank of America Merrill Lynch, and Goldman Sachs [2][3] - Apollo President Jim Zelter expressed confidence in De Giorgi's ability to lead the EMEA business, highlighting the firm's strong foundation for growth in the region [3] Strategic Focus - Under De Giorgi's leadership, Apollo aims to expand its credit, equity, and hybrid origination, as well as wealth and retirement solutions in the EMEA region [2][3] - The firm has established its EMEA headquarters in London over two decades ago and continues to grow its office footprint across the region [5]

Group 1 - Apollo Global Management reported fourth-quarter earnings with adjusted earnings per share of $2.47, exceeding analyst estimates by $0.43, and revenue of $9.86 billion, nearly double the consensus forecast of $5.3 billion [1] - Following the earnings announcement, shares rose more than 1% intra-day on Monday [1] - The strong quarter capped a year of "exceptional execution" in 2025, with assets under management reaching approximately $938 billion as of December 31, 2025 [2] Group 2 - Throughout 2025, Apollo positioned itself as a key participant in major financial trends, including financing industrial growth, expanding retirement solutions, and broadening access to private market investments [2] - The company declared a quarterly cash dividend of $0.51 per share of common stock, payable on February 27, 2026, to shareholders of record as of February 19, 2026 [3] - Apollo also announced a cash dividend of $0.8438 per share on its Mandatory Convertible Preferred Stock [3]

KKR 2026 Conference Call Summary Company Overview - KKR (NYSE: KKR) is one of the world's largest asset managers, overseeing approximately $744 billion in assets under management (AUM) as of year-end 2025. The company has a diversified platform that includes private equity, credit, infrastructure, real assets, and insurance [3][5]. Macro Economic Outlook - The macroeconomic environment is described as nuanced, influenced by factors such as rates, inflation, geopolitics, fiscal deficits, and public policy. KKR anticipates increased transaction activity in 2026, with a better deal flow compared to 2025 [5][6]. - The company is optimistic about early signs of market recovery despite recent volatility [6]. Financial Performance and Market Position - KKR's management fees increased by 35%, fee-related earnings rose over 50%, and adjusted net income grew in the mid-40s percentage range over the past two years. Capital raising in the last 12 months was up 90% compared to the previous year [7][8]. - The market is perceived to undervalue KKR's diversified business model, which includes significant contributions from private equity, real assets, and credit strategies [9][10]. Strategic Acquisition - KKR announced the acquisition of Arctos, which is expected to enhance its position in the sports asset class and the secondary market. The acquisition aligns with KKR's M&A strategy focused on large addressable markets [12][13]. - The deal is anticipated to create a business worth over $100 billion, leveraging KKR's global reach and capital access [13]. Fundraising Environment - KKR raised approximately $130 billion in 2025, up 90% from two years prior. The company aims to exceed its target of raising $300 billion between 2024 and 2026 [18][19]. - The institutional market is showing signs of recovery, with significant capital raised in both private equity and infrastructure products [19][20]. Adjusted Net Income Target - KKR has set a target of over $7 per share of Adjusted Net Income (ANI) for 2026, supported by growth in management fees, capital markets business, and operating leverage [26][27]. - The company has $18.6 billion in embedded gains and expects to generate over $900 million in monetization-related revenue [30][31]. Insurance Business Strategy - KKR's insurance business, Global Atlantic, is expected to generate around $1 billion in operating income in 2026. The strategy involves elongating liabilities and scaling third-party capital to enhance returns [34][37]. - The company is focused on migrating its portfolio into alternative investments, which is anticipated to yield cash income starting in 2027 and 2028 [35][36]. Wealth Management Platform - KKR emphasizes client experience as the primary KPI, with a focus on delivering exceptional investment performance. The company has introduced a two-year soft lock on its private equity vehicles to enhance durability [40][45]. - The wealth management channel is seen as an area for robust growth, with significant potential for capital raising as individual investors increase their allocation to alternatives [41][42]. Credit Market Insights - KKR manages approximately $135 billion in private credit, with a focus on asset-based finance and direct lending. The company remains optimistic about credit fundamentals despite market noise [55][56]. - The asset-based finance market is expected to grow significantly, with KKR positioned to capitalize on opportunities in this space [58][59]. Infrastructure and Real Estate Growth - KKR's infrastructure business has grown to about $100 billion in AUM, driven by global demand for infrastructure spending. The company is well-positioned to capture market share as client allocations to infrastructure increase [62][63]. - Real estate values are believed to have bottomed out, but capital raising remains challenging. KKR is preparing to take advantage of market recovery when it occurs [66][67]. Capital Markets Business - KKR's capital markets business is expected to grow, with opportunities arising from global expansion and partnerships, particularly with its insurance business. The company believes it has not yet reached its full potential in this area [68][69]. Conclusion - KKR is navigating a complex macroeconomic environment while positioning itself for growth through strategic acquisitions, diversified business models, and a focus on client experience. The company is optimistic about achieving its financial targets and capitalizing on market opportunities in the coming years [72][73].

Group 1 - Ares Management Corporation (NYSE:ARES) is recognized as one of the top 10 financial stocks for long-term investment, with a significant upside potential indicated by recent price target adjustments from analysts [1] - Morgan Stanley raised its price target for Ares Management from $175 to $178, suggesting a 42.4% upside from current levels, which aligns with the median upside of 41.38% from 19 analysts covering the stock [1] - Oppenheimer also increased its price target for Ares Management from $190 to $224 while maintaining a Buy rating, reflecting a broader review of price targets in the alternative asset management sector [3] Group 2 - The company is experiencing increased deal activity, which is expected to support alternative asset managers through the fourth quarter and into 2026, leading to an upward revision of earnings per share estimates by Morgan Stanley [2] - The adjusted earnings per share estimates have been increased by 4%, now standing 1% above the consensus among analysts, indicating rising confidence in the company's short-term performance [2] - Ares Management operates in various segments including Direct Lending, Private Equity, and Real Estate, and has a global presence in the United States, Asia, and Europe [4]

TPG Reports Fourth Quarter and Full Year 2025 Results San Francisco and Fort Worth, Texas – February 5, 2026 – TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, today reported its unaudited results for the fourth quarter and full year ended December 31, 2025. A detailed presentation is available through the Investor Relations section of TPG's website at shareholders.tpg.com. "2025 was an outstanding year for TPG, marked by exceptional execution across our global franchise. We achie ...

Great Elm Group (NasdaqGS:GEG) Q2 2026 Earnings call February 05, 2026 08:30 AM ET Company ParticipantsAdam Yates - Managing DirectorJason Reese - CEOKeri Davis - CFOOperatorGreetings and welcome to the Great Elm Group fiscal 2026 second quarter conference call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star 0 on your telephone keypad. As a ...

Great Elm Group (NasdaqGS:GEG) Q2 2026 Earnings call February 05, 2026 08:30 AM ET Company ParticipantsAdam Yates - Managing DirectorJason Reese - CEOKeri Davis - CFOOperatorGreetings and welcome to the Great Elm Group Fiscal 2026 second quarter conference call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star 0 on your telephone keypad. As a ...

Great Elm Group (NasdaqGS:GEG) Q2 2026 Earnings call February 05, 2026 08:30 AM ET Speaker3Greetings and welcome to the Great Elm Group Fiscal 2026 second quarter conference call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star 0 on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce yo ...

With a market cap of $105.2 billion, Blackstone Inc. (BX) is a global alternative asset management firm specializing in private equity, real estate, hedge funds, credit, and multi-asset strategies. The firm invests across all stages of company growth, from early-stage ventures to large buyouts, and operates worldwide with a focus on diverse sectors including real estate, energy, healthcare, technology, and infrastructure. Shares of the New York-based company have underperformed the broader market over th ...