Affiliated Managers Group, Inc. (AMG) reported a significant increase in financial performance for the first quarter of 2026, with consolidated revenue rising to $544.9 million, a 10% increase from $496.6 million in the same period last year. The company's net income also saw a substantial rise, reaching $146.4 million, up 48% from $99.2 million in the prior year. This growth was primarily driven by a notable increase in equity method income, which surged to $147.4 million from $75.3 million, alongside a decrease in intangible amortization and impairments.
The company experienced a 25% increase in compensation and related expenses, totaling $287.1 million, attributed to higher equity expenses and compensation accruals. Total consolidated expenses increased by 11% to $505.9 million, influenced by rising selling, general, and administrative expenses, which grew by 13% to $107.4 million. Despite these increases, AMG's effective tax rate rose to 29.3%, up from 25.4%, reflecting higher expenses related to equity awards without corresponding tax benefits.
Strategically, AMG completed several acquisitions, including minority equity interests in Brown Brothers Harriman's credit franchise and additional investments in Garda Capital Partners and HighBrook Investors. These investments are expected to enhance AMG's portfolio in liquid alternatives and private markets, aligning with the company's growth strategy. As of March 31, 2026, AMG's assets under management reached approximately $882 billion, a 24% increase from the previous year, driven by strong client demand for alternative strategies.
Operationally, AMG reported a 50% increase in aggregate fees, totaling $1.91 billion, with asset-based fees rising by 31% and performance-based fees increasing by 19%. The company also noted a significant rise in average assets under management, which reached $881.7 billion, reflecting strong net client cash inflows and the addition of new partnerships. Looking ahead, AMG anticipates continued growth in its business mix, particularly in private markets and liquid alternatives, positioning itself to capitalize on favorable industry trends.
About AFFILIATED MANAGERS GROUP, INC.
Affiliated Managers Group, Inc. (AMG) is a strategic partner to independent investment firms, focusing on long-term value creation through investments in high-quality, partner-owned firms. With approximately $708 billion in assets under management, AMG offers diverse investment strategies, including private markets and liquid alternatives. The company targets institutional and high-net-worth clients globally, leveraging its unique partnership model to enhance growth and maintain the independence of its Affiliates.
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