Financial Data and Key Metrics Changes - In 2025, GCM Grosvenor achieved a record fundraising year, raising $10.7 billion, with $3.5 billion raised in Q4 alone, marking significant growth compared to previous years [4][5] - Fee-Related Earnings, Adjusted EBITDA, and Adjusted Net Income increased by 11%, 15%, and 18% respectively compared to 2024 [5][24] - The company ended 2025 with $91 billion in assets under management (AUM), a 14% increase from the end of 2024 [7] - Fee-Paying AUM grew 12% year-over-year to $72 billion, while Contracted Not Yet Fee-Paying AUM increased by 27% to $10 billion [8] Business Line Data and Key Metrics Changes - Absolute Return Strategies (ARS) performance was strong, with a Multi-Strategy Composite generating a 15% gross rate of return in 2025 [4] - Infrastructure, the fastest-growing strategy, returned approximately 11% for the year [4] - ARS fee-paying AUM and management fees grew 15% and 5% year-over-year respectively [22] Market Data and Key Metrics Changes - The individual investor channel saw AUM increase by 18% year-over-year, indicating strong demand for customized solutions [8] - The company has less exposure to SaaS businesses, with only 4% of total AUM and less than 6% of credit AUM attributed to this sector [10] Company Strategy and Development Direction - GCM Grosvenor is focused on diversifying its investment strategies and enhancing its wealth management distribution through initiatives like Grove Lane Partners [8] - The company aims to double its Fee-Related Earnings to over $280 million by 2028 and grow adjusted net income per share to more than $1.20 [12] - The firm is committed to maintaining a capital-light business model while increasing shareholder returns through share buybacks and debt repayment [27][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the investment opportunity set and the strength of their fundraising pipeline entering 2026 [5][9] - The recent market volatility is viewed as an opportunity, with management emphasizing the importance of diversification in their investment strategy [9][10] - The company anticipates continued operating leverage and margin expansion through 2028 [30] Other Important Information - The gross unrealized carried interest balance reached an all-time high of $949 million, up 14% from the end of 2024 [7] - The company repurchased 2.8 million shares in Q4 at an average price of $11.11 per share, totaling $31 million [24] Q&A Session Summary Question: Capital allocation plans post-warrant exercise - Management indicated a focus on maintaining a capital-light business model, with plans for share buybacks and debt repayment [27] Question: Operating leverage and margin expansion - Management believes they can continue to drive margin expansion through 2028 [30] Question: Future of the absolute return business - Management remains cautious about budgeting for organic growth in the absolute return business but acknowledges recent successes [34] Question: Fundraising outlook for 2026 - Management has a strong pipeline and expects fundraising in 2026 to potentially exceed 2025, but they are not officially budgeting for that yet [58] Question: Performance fees and carried interest - Management noted that carried interest realizations were lower than expected but expressed confidence in future increases [60]

Saia (NasdaqGS:SAIA) Q4 2025 Earnings call February 10, 2026 10:00 AM ET Company ParticipantsBrian Ossenbeck - Managing DirectorChris Wetherbee - Managing Director and Head of Transportation & Shipping ResearchFritz Holzgrefe - President and CEOHarrison Bauer - Equity Research Associate of Freight & LogisticsJason Seidl - Managing DirectorJonathan Chappell - Senior Managing DirectorKen Hoexter - Managing DirectorMatt Batteh - EVP and CFORicha Harnain - Director of Institutional Equity SalesStephanie Moore - ...

Brixmor Property Group (NYSE:BRX) Q4 2025 Earnings call February 10, 2026 10:00 AM ET Company ParticipantsBrian Finnegan - CEO and PresidentCaitlin Burrows - VP of Equity ResearchCraig Mailman - Director of Equity ResearchHaendel St. Juste - Managing DirectorJuan Sanabria - Managing DirectorMark Horgan - EVP and CIOMichael Griffin - DirectorMichael Mueller - Managing DirectorSamir Khanal - Director of Equity ResearchStacy Slater - SVP of Investor RelationsSteve Gallagher - CFOTayo Okusanya - Managing Direct ...

Brixmor Property Group (NYSE:BRX) Q4 2025 Earnings call February 10, 2026 10:00 AM ET Company ParticipantsBrian Finnegan - CEO and PresidentCaitlin Burrows - VP of Equity ResearchCraig Mailman - Director of Equity ResearchHaendel St. Juste - Managing DirectorJuan Sanabria - Managing DirectorMark Horgan - EVP and CIOMichael Griffin - Director of Equity ResearchMichael Mueller - Managing DirectorStacy Slater - SVP of Investor RelationsSteve Gallagher - CFOTayo Okusanya - Managing DirectorTodd Thomas - Managin ...

DLH (NasdaqCM:DLHC) Q1 2026 Earnings call February 10, 2026 10:00 AM ET Company ParticipantsBert Osterweis - Private InvestorChris Witty - Investor Relations AdvisorKathryn JohnBull - CFOZachary Parker - President and CEOConference Call ParticipantsJoe Gomes - Senior Research AnalystOperatorGood day, and welcome to the DLH Holdings Fiscal 2026 First Quarter Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing th ...

The Manitowoc Company (NYSE:MTW) Q4 2025 Earnings call February 10, 2026 10:00 AM ET Company ParticipantsAaron Ravenscroft - President and CEOBrian Regan - EVP and CFOIon Warner - Senior Vice President of Marketing and Investor RelationsConference Call ParticipantsKevin O'Regan - AnalystOperatorGood morning and welcome to The Manitowoc Company 4th Quarter 2025 Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing ...

Saia (NasdaqGS:SAIA) Q4 2025 Earnings call February 10, 2026 10:00 AM ET Company ParticipantsBrian Ossenbeck - Managing DirectorChris Wetherbee - Managing Director and Head of Transportation & Shipping ResearchFritz Holzgrefe - President and CEOHarrison Bauer - Equity Research Associate of Freight & LogisticsJason Seidl - Managing DirectorJonathan Chappell - Senior Managing DirectorKen Hoexter - Managing DirectorMatt Batteh - EVP and CFORicha Harned - Director of Institutional Equity SalesStephanie Moore - ...

Vornado Realty Trust (NYSE:VNO) Q4 2025 Earnings call February 10, 2026 10:00 AM ET Company ParticipantsGlen Weiss - EVPMichael Franco - President and CFOSteve Borenstein - EVP and Corporate CounselSteven Roth - Chairman and CEOThomas Sanelli - EVP of Finance and Chief Administrative OfficerConference Call ParticipantsAlexander Goldfarb - AnalystAnnabelle Ayer - AnalystAnthony Paolone - AnalystDylan Burzinski - AnalystFloris van Dijkum - AnalystJana Galan - AnalystJohn Kim - AnalystNick Yulico - AnalystSeth ...

Alexander's (NYSE:ALX) Q4 2025 Earnings call February 10, 2026 10:00 AM ET Company ParticipantsAnnabell Ehr - Assistant Relationship ManagerAnthony Paolone - Executive DirectorGlen Weiss - EVP of Office LeasingMichael Franco - President and CFONick Yurico - Managing DirectorSmedes Rose - DirectorSteven Borenstein - EVP and Corporate CounselSteven Roth - Chairman and CEOConference Call ParticipantsAlexander Goldfarb - Managing Director and Senior Equity Research AnalystCamille Bonnel - Equity Research Analys ...

CTS (NYSE:CTS) Q4 2025 Earnings call February 10, 2026 10:00 AM ET Company ParticipantsAshish Agrawal - CFOKieran O'Sullivan - CEOConference Call ParticipantsHendy Susanto - AnalystJohn Franzreb - AnalystOperatorHello everyone. Thank you for joining us and welcome to the CTS Corporation 4th Quarter 2025 Earnings Call. After today's prepared remarks, we will host a question-and-answer session. If you'd like to ask a question, please press star 1 on your telephone keypad. To withdraw your question, please pre ...