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AlTi Global Inc. (ALTI+2.33%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenues of $206.9 million for the year, a decrease from $246.9 million in 2023. Management and advisory fees increased to $190.5 million, while incentive fees and distributions from investments decreased to $3.3 million and $12.3 million, respectively.
Operating expenses totaled $293.8 million, down from $346.2 million in 2023, primarily due to a decrease in compensation and employee benefits expenses.
The company reported a net loss of $174.3 million, an improvement from the $311.2 million loss in 2023. This was influenced by goodwill and intangible asset impairment charges totaling $116.8 million.
AlTi's assets under management (AUM) increased to $43.1 billion, driven by acquisitions and organic growth, while assets under advisement (AUA) reached $60.5 billion.
The company's liquidity position improved, with cash and cash equivalents increasing to $65.5 million, largely due to capital raised from equity issuances to strategic partners Allianz and Constellation.
AlTi continues to focus on strategic options for its International Real Estate segment, which is not considered core to its long-term strategy.
The filing also details ongoing litigation matters, including investigations by the UK FCA related to the historic management of Home REIT and HLIF, and a settlement with Tolleson Wealth Management.
AlTi's management anticipates further strategic actions to align its business segments with long-term growth objectives, including potential divestitures in the International Real Estate segment.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the AlTi Global Inc. annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.