Acadian Asset Management Reports 18.5% Revenue Growth to $505.6 Million for Fiscal Year 2024

Acadian Asset Management Inc. (formerly BrightSphere Investment Group Inc.) reported significant financial performance for the fiscal year ending December 31, 2024, with total revenue reaching $505.6 million, a 18.5% increase from $426.6 million in 2023. The company’s net income attributable to controlling interests was $85.0 million, up from $65.8 million the previous year. Economic net income (ENI), a non-GAAP measure used by management, also saw a substantial rise, increasing by 39.7% to $105.8 million compared to $75.7 million in 2023. The company’s operating margin improved to 27% from 25% in the prior year, reflecting enhanced operational efficiency.

The increase in revenue was primarily driven by a 15.5% rise in management fees, which totaled $431.1 million, and a 41.7% increase in performance fees, which reached $71.4 million. The growth in assets under management (AUM) was notable, climbing to $117.3 billion, a 13.1% increase from $103.7 billion in 2023. This growth was attributed to net client cash inflows of $1.8 billion and market appreciation of $11.8 billion. The company reported that approximately 91% of its assets outperformed their benchmarks over the past year, indicating strong investment performance.

Strategically, Acadian continued to focus on its systematic investment management business through its subsidiary, Acadian Asset Management LLC. The company has maintained a diversified array of investment strategies, including global, emerging market, and small-cap equities, as well as credit and alternative strategies. The firm’s client base remains diverse, with institutional clients accounting for over 80% of AUM. The company also executed a share repurchase program, repurchasing approximately 4.4 million shares for about $94.9 million during the year.

Operationally, Acadian employed 383 full-time equivalent employees as of December 31, 2024, reflecting a commitment to maintaining a skilled workforce to support its growth initiatives. The company’s investment in technology and research continues to be a competitive advantage, enabling it to leverage data-driven strategies to enhance investment performance. Looking ahead, Acadian anticipates continued growth in AUM and revenue, supported by its strong investment performance and strategic focus on expanding its product offerings and client relationships. However, the company also acknowledged potential risks, including market volatility and regulatory changes, which could impact future performance.