Carlyle Reports First Quarter 2025 Financial Results MAY 8, 2025 Carlyle Reports First Quarter 2025 Financial Results WASHINGTON, D.C. AND NEW YORK – May 8, 2025 – Global investment firm The Carlyle Group Inc. (NASDAQ: CG) today reported its unaudited results for the first quarter ended March 31, 2025. U.S. GAAP Results U.S. GAAP results for Q1 2025 included income before provision for income taxes of $171 million and a margin on income before provision for income taxes of 17.6%. Dividend The Board of Direc ...

New partnerships with Verition Fund Management and Qualitas Energy, together with Q1 investment in NorthBridge Partners, further diversify AMG’s business and broaden its participation in alternatives, in line with its growth strategyAffiliate Peppertree Capital Management to be acquired, marking culmination of AMG investment and a successful outcome for all stakeholdersStrong net client cash inflows in alternatives of approximately $14 billion, driven by both liquid alternatives and private marketsRepurchas ...

Core Viewpoint - AMG has entered into a definitive agreement to acquire a minority equity interest in Qualitas Energy, a global investment and management platform focused on renewable energy and sustainable infrastructure [1][7]. Group 1: Transaction Details - Qualitas Energy's management will retain majority ownership and continue leading day-to-day operations, ensuring operational independence [2]. - The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions [4]. Group 2: Qualitas Energy Overview - Founded in 2006, Qualitas Energy has raised approximately €5 billion across six funds, focusing on investments in solar, wind, batteries, hydroelectric power, and renewable natural gas [3][8]. - The firm has dedicated over €14 billion to the energy transition globally, with a portfolio comprising over 11 GW of operational and development-stage renewable energy assets [8]. Group 3: Strategic Importance - The partnership with AMG is expected to enhance Qualitas Energy's investment capacity and align with its long-term objectives in energy transition investing [4][8]. - Qualitas Energy's existing portfolio has generated enough energy to supply 1.2 million homes and has avoided the emission of 1 million metric tons of CO2 equivalent over the past five years [8]. Group 4: AMG Overview - AMG manages approximately $712 billion in assets across various investment strategies as of March 31, 2025, focusing on high-quality independent partner-owned firms [5]. - The partnership with Qualitas Energy will expand AMG's participation in private markets and alternatives [7].

Core Viewpoint - Stellus Capital Investment Corporation is set to release its financial results for Q1 2025 on May 12, 2025, after market close [1] - A conference call to discuss these results will take place on May 13, 2025, at 11:00 AM Central Time, led by the CEO and CFO [2] Financial Results Release - The financial results for the first quarter ended March 31, 2025, will be disclosed on May 12, 2025 [1] - The results will be discussed in a conference call on May 13, 2025 [2] Conference Call Details - The conference call can be accessed via phone at 888-506-0062 with passcode 260621 [3] - A replay of the call will be available until May 27, 2025, by dialing 877-481-4010 with passcode 52407 [3] - The call will also be available via live webcast on the company's website, with a replay accessible for approximately 90 days [3] Company Overview - Stellus Capital Investment Corporation is an externally-managed, closed-end, non-diversified investment management company regulated as a business development company under the Investment Company Act of 1940 [4] - The company's investment objective is to maximize total return to stockholders through current income and capital appreciation by investing primarily in private middle-market companies [4] - The investment strategy includes first lien, second lien, unitranche, and mezzanine debt financing, along with corresponding equity investments [4]

Core Insights - FS KKR Capital reported revenue of $400 million for the quarter ended March 2025, a decrease of 7.8% year-over-year, with EPS at $0.65 compared to $0.73 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $396.62 million by 0.85%, while the EPS also surpassed the consensus estimate of $0.64 by 1.56% [1] Financial Performance Metrics - Investment income from interest was reported at $240 million, below the average estimate of $262.37 million [4] - Dividend and other income amounted to $81 million, exceeding the estimated $74.59 million [4] - Fee income reached $17 million, surpassing the average estimate of $10.68 million [4] - Paid-in-kind interest income was reported at $62 million, slightly below the estimate of $65.13 million, but showed a significant year-over-year increase of 77.1% [4] Stock Performance - Over the past month, FS KKR Capital's shares returned +9%, compared to a +10.6% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Core Insights - Hennessy Advisors, Inc. reported strong financial results for the second fiscal quarter of 2025, with total revenue increasing by 33.7% year-over-year to $9.3 million and net income rising by 67.7% to $2.6 million [1][2][5] - The company announced a quarterly dividend of $0.1375 per share, reflecting an annualized dividend yield of 5.2% [1][2] - The firm is committed to long-term investing and believes that current market volatility will stabilize as new realities are absorbed [1][2] Financial Performance - Total revenue for the quarter ended March 31, 2025, was $9,275,783, compared to $6,939,977 for the same quarter in 2024, marking a $2,335,806 increase [2][5] - Net income increased from $1,539,823 in Q1 2024 to $2,582,979 in Q1 2025, an increase of $1,043,156 [2][5] - Earnings per share (diluted) rose from $0.20 to $0.33, reflecting a 65% increase [2][5] - Average assets under management grew by 37.2% to $4,746,380,124, up from $3,459,895,504 [2][5] - Total assets under management increased by 10.5% to $4,255,690,493 [2][5] - Cash and cash equivalents, net of gross debt, rose by 41.2% to $27,311,927 [2][5] Strategic Initiatives - The company signed a definitive agreement with STF Management, LP to expand its ETF offerings, demonstrating a commitment to growth and effective cash deployment [2][3]

Group 1 - TPG held its First Quarter 2025 Earnings Conference Call, with key participants including the CEO, CFO, and other executives [1][3] - The call was structured to include prepared remarks followed by a Q&A session, indicating a focus on engaging with investors [1][2] - The company emphasized the presentation of both GAAP and non-GAAP measures in its earnings release, highlighting the relevance of non-GAAP measures for assessment [5]

Core Viewpoint - The recent appointment of Alex To Fung, CEO of DCM Investment, to Morgan Stanley as Vice Chairman for the Asia-Pacific region marks a significant personnel shift in the private equity (PE) sector, highlighting the competitive nature of the financial industry and the strategic moves by major firms to enhance their market presence [2][4][12]. Group 1: Personnel Changes - Alex To Fung's transition to Morgan Stanley is seen as a major career advancement, providing him with access to a global platform and resources [4]. - The move is unexpected, with little prior indication, leading to speculation within the financial community [4][9]. - This shift reflects a broader trend of high-level executives moving between firms in the financial sector, indicating a competitive landscape [12]. Group 2: Company Insights - Morgan Stanley has reported impressive financial performance, with a projected net profit of nearly $58.5 billion for 2024, making it the first bank to exceed $50 billion in annual profit [11]. - The bank's success is attributed to growth in investment banking, increased consumer credit card spending, and a surge in trading income [11]. - Morgan Stanley has significantly increased its technology investment budget, from $9.5 billion in 2017 to $15.3 billion in 2023, which constitutes about 18% of its total expenditures, enhancing its competitive edge in digital transformation [11]. Group 3: DCM Investment Overview - DCM Investment, founded in 2002, is one of China's largest alternative asset management firms, managing over 170 billion RMB [8]. - Under Alex To Fung's leadership, DCM Investment has achieved notable success in various sectors, including healthcare and technology, and has been involved in significant cross-border mergers and acquisitions [8][9]. - Despite facing challenges such as talent attrition, DCM Investment has maintained a strong development trajectory due to its deep investment expertise and robust team [9].

Core Viewpoint - The company, Nandu Property Service Group Co., Ltd., is participating in the establishment of an investment fund focused on artificial intelligence and embodied intelligence sectors, contributing 33% of the total capital with an investment of 33 million RMB [2][3][24]. Group 1: Investment Overview - The investment target is Hangzhou Saizhi Zhulong Venture Capital Partnership (Limited Partnership), referred to as "Zhulong Fund" [2]. - The company will invest 33 million RMB, representing 33% of the total committed capital of 100 million RMB for the fund [2][11]. - The fund aims to leverage the rapid development of AI technology and government support policies to enhance the company's strategic development and competitive edge in the AI and embodied intelligence sectors [3][24]. Group 2: Fund Structure and Management - The fund is structured as a limited partnership, with Zhejiang Saizhi Bole Equity Investment Management Co., Ltd. as the general partner [5][10]. - Other limited partners include Zhejiang University Net New Technology Co., Ltd. and Hangzhou Jingye Intelligent Technology Co., Ltd., both of which are publicly listed companies [9][10]. - The fund's lifespan is set for 6 years, with a 2-year investment period followed by a 4-year exit period, extendable by 2 years upon agreement by all partners [14]. Group 3: Investment Strategy and Decision-Making - The fund will focus on investments in artificial intelligence, robotics, and embodied intelligence, aiming to build a robust industrial chain in these areas [15]. - An investment decision committee, consisting of 6 members, will oversee investment decisions, requiring a majority vote for approval [17]. - The exit strategies for investments include public offerings, mergers, transfers, and buybacks, with the goal of maximizing returns [18]. Group 4: Financial Implications and Impact - The investment is expected to align with the company's strategic direction, enhancing its ability to cultivate high-growth projects and achieve capital appreciation [24]. - The investment will not interfere with the company's daily operations or financial needs, ensuring that it does not harm the interests of shareholders, particularly minority shareholders [24].

Marks Successful Culmination of AMG Partnership WEST PALM BEACH, Fla., May 06, 2025 (GLOBE NEWSWIRE) -- AMG, a strategic partner to leading independent investment management firms globally, today announced that it has entered into an agreement to sell its equity interest in Peppertree Capital Management, Inc. (“Peppertree”) as part of the announced acquisition of Peppertree by TPG Inc. Founded in 2004 by co-Presidents Ryan Lepene and Howard Mandel, Peppertree is a leading specialized digital infrastructure ...