Silvercrest Asset Management Group Earnings Call Transcripts
Fiscal Year 2026
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Discretionary AUM reached an all-time high, rising 6.9% sequentially to $24.7B, with robust institutional inflows and a strong global pipeline. Revenue was flat year-over-year, while expenses rose due to global expansion, but cost pressures are expected to ease as licensing completes.
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AUM grew modestly year-over-year, but flat revenue and higher expenses compressed margins as the firm accelerated investments in talent and global expansion. A robust pipeline in global strategies could drive future inflows, though timing remains uncertain.
Fiscal Year 2025
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Discretionary AUM rose 3% year-over-year to $24B, with strong organic client growth and robust international expansion. Elevated compensation costs reflect ongoing hiring and strategic investments, while share repurchases and a solid balance sheet support capital returns.
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Discretionary AUM hit $24.3B, up 8% year-over-year, with total AUM at a record $37.6B. Revenue rose 2.9% in Q3, but earnings and EBITDA remain pressured by ongoing investments, with management expecting profitability to rebound over the next 18–24 months.
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Discretionary AUM rose to $23.7B, with total AUM at a record $36.7B, driven by strong markets and organic client growth. Revenue dipped 1% year-over-year, while expenses rose due to investments in talent and marketing. Share buybacks and a dividend increase highlight ongoing capital returns.
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Q1 2025 saw $0.4B in new client flows and revenue up 3.7% year over year, despite volatile markets reducing AUM to $34.3B. Strong global strategy performance, a completed $12M buyback, and ongoing expansion in Europe and Asia support a positive long-term outlook.
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The firm emphasized its strong culture, strategic growth, and high client retention, with AUM reaching $36.5B and a 98% retention rate. Recent global expansion, especially in value equity, and disciplined capital allocation support continued growth and shareholder returns.
Fiscal Year 2024
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Record organic inflows and AUM growth in 2024 were driven by a major global equity mandate and strategic investments in talent and international expansion. Expenses remain elevated due to growth initiatives, but strong cash flow supports continued buybacks and dividends.
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AUM and revenue grew in Q3, driven by market gains and new mandates, while expenses rose due to investments in talent and infrastructure. The business pipeline is robust, with optimism for significant inflows, especially in global equity and OCIO.
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Q2 2024 saw a 4.2% revenue increase and 4.7% AUM growth year-over-year, but higher compensation and investments reduced profitability. New hires, including a global equity team, are expected to drive future growth, while the business pipeline remains strong and diversified.