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]