AlTi Global, Inc. has recently released its 10-Q report, providing a detailed insight into its financial condition and operations. The company, based in New York, provides wealth and asset management services to individuals, families, foundations, and institutions globally. AlTi operates through two segments, Wealth Management and Strategic Alternatives, offering a comprehensive range of investment, advisory, and administrative capabilities.
In the Wealth Management segment, AlTi manages or advises approximately $71.9 billion in combined assets as of June 30, 2024. The company provides holistic solutions, including discretionary investment management, non-discretionary investment advisory, trust services, administration services, and family office services. Its Strategic Alternatives segment assists investors with alternative investments and co-investments, providing access to highly differentiated opportunities in these areas.
The company's fee structure is diverse, generating revenue streams from recurring management, advisory, or administration fees; performance or incentive fees; distribution from investments; and other income or fees. Wealth Management fees primarily come from investment management or advisory fees, calculated as a percentage of the value of each client's assets. In the Strategic Alternatives segment, AlTi earns management fees through its alternatives platform and private real estate fund management, as well as incentive fees and distributions from investments.
AlTi's business is directly and indirectly affected by conditions in the financial markets and economic conditions, particularly in the U.S., Europe, and Asia. The company notes that the first half of 2024 continued the pattern of strong equity market performance, with the U.S. economy showing solid growth. AlTi believes it is well positioned to capitalize on global market trends and dynamics, aiming for organic growth across its business lines and focusing on inorganic growth through acquisitions and investments in talented managers. The market has reacted to these announcements by moving the company's shares -1.7% to a price of $3.75. For more information, read the company's full 10-Q submission here.
