Alti Global, Inc. · NASDAQ:ALTI
Alti Global — Non-Deal Roadshow (October 2024)
31 slides from Alti Global's roadshow presentation, Oct 7, 2024
Slide 1: AlTi Global Non-Deal Roadshow Investor Presentation
1AlTi Global Non-Deal Roadshow Investor Presentation | October 2024
Slide 2: Notes and Important Disclosures
2AlTi Global Notes and Important Disclosures About AlTi Global AlTi Global is a leading independent global wealth and alternatives manager providing entrepreneurs, multi- generational families, institutions, and emerging next-generation leaders with fiduciary capabilities as well as alternative inve
Slide 3: Our presenters today
3AlTi Global Michael Tiedemann Chief Executive Officer Our presenters today Stephen Yarad Chief Financial Officer
Slide 4: Our goal
4AlTi Global Our goal To empower discerning capital owners to achieve simplicity, capital compounding, and meaningful impact
Slide 5: Key investment highlights
5AlTi Global Key investment highlights Comprehensive platform for UNHW families and wealth managers Large and expanding addressable market Uniquely global footprint Recurring and diversified revenue Strong capital position underpinned by transformative strategic partners Identified pipeline of inorg
Slide 6: AlTi at a glance
6AlTi Global AlTi at a glance Delivering transformational ideas that create enduring value 1) Reflects inclusion of Minneapolis office, which was added after 2Q'24 as part of the acquisition of Envoi, LLC Note: Information as of June 30, 2024, unless otherwise noted; See AlTi Global, Inc. public fil
Slide 7: What is AlTi? Capabilities and clients
7AlTi Global High and UHNW individuals and families Foundations & endowments Sovereign Wealth Funds Single-family offices Multi-family offices Institutional investors What is ? Leading independent, global Ultra-High-Net-Worth wealth management platform, with targeted expertise in alternatives and im
Slide 8: One global platform, five pillars
8AlTi Global One global platform, five pillars A global ecosystem aligned to the five core needs of the world’s most discerning and dynamic owners of capital Simplification Family Office Services Fiduciary Oversight Cross-Border Planning Project Management Overview Preservation Portfolio Management
Slide 9: AlTi serves the fast-growing Ultra-High-Net-Worth market
9AlTi Global AlTi serves the needs of the fast-growing and lucrative Ultra-High-Net-Worth market… 1) Source: Wealth-X, an Altrata company, World Ultra Wealth Report 2024 2014 2028F +6.6% CAGR 2023 +4.0% CAGR (+13% in U.S. in 2023) 33.7, 89% 4.0, 10% 0.4, 1% $63.0, 42% $39.5, 26% $49.2, 32% UHNW indi
Slide 10: Powerful multi-decadal trends grow our addressable market
10AlTi Global GenX and Millennials Foundations, Charities and Endowments $84T Baby Boomers & Older Generational Wealth Transfer(1) U.S. Wealth Transfer (2021-2045P) $84 trillion wealth transfer creates opportunities for firms that deliver impact, innovation & engagement to clients 1) Source: Cerulli
Slide 11: Client base increasingly interested in alternatives and impact investing
11AlTi Global $9 $17 $29 $30 2017 2023 2029P 2030P … with a client base that is increasingly interested in alternatives and impact investing 1) Source: Preqin, Global alternatives markets on course to exceed $30tn by 2030 2) Source: Capgemini research institute, 2024 World Wealth Report 3) Source: C
Slide 12: One of the only at-scale wealth firms with alternatives in our DNA
12AlTi Global is one of the only at-scale wealth management firms with alternatives in our DNA AlTi offers truly differentiated alternatives expertise and products, while maintaining an independent, trusted fiduciary partner Alts are critical to our UHNW clients... … and we offer compelling solution
Slide 13: Our impact
13AlTi Global Our impact Committed to serving our clients in an objective and transparent way Responsible Investing • Multi-asset class portfolios generating quantifiable social & environmental outcomes • Embedded ESG evaluation throughout the investment process • Proprietary values-based survey to
Slide 14: Global Footprint
14AlTi Global Toronto Aspen Seattle Portland San Francisco Dallas Miami Minneapolis Washington, D.C. Palm Beach Wilmington New York Lisbon Lugano Geneva Zurich Milan London Paris Singapore Hong Kong Global Footprint Unlocking global opportunities and empowering success worldwide with AlTi's innovati
Slide 15: Our business is global, long-duration and built for further scale
15AlTi Global Our business is global, long-duration and built for further scale 1) Top 25 Client Asset composition by geography 2) Manager stakes consolidate 100% of AUM/AUA 3) Data presented for pre-listing period (i.e. FY2019 to FY2022) represent combined financial results for TWMH, TIG and Alvari
Slide 16: Highly recurring revenue model
16AlTi Global Highly recurring revenue model (1) Includes management and incentive fees distributed from AlTi’s economic interest in three external managers (Arkkan, Zebedee and Romspen), which are not consolidated by AlTi (2) Includes incentive fees from funds managed by AlTi’s Arbitrage platform;
Slide 17: Comprehensive platform
17AlTi Global Comprehensive platform Well-positioned to meet the diverse needs of an expanding client base AlTi Global Banks Global Alternative Managers Family Offices Boutique Investment Firms Global Presence Comprehensive Capabilities Alignment with Clients Customized Services Nimble to Capture Op
Slide 18: World-class leadership
18AlTi Global Broad, global industry experience World-class leadership Michael Tiedemann Chief Executive Officer Kevin Moran President / Chief Operating Officer Stephen Yarad Chief Financial Officer Colleen Graham Global General Counsel and CRO Claire Verdirame Chief Marketing Officer Jed Emerson Ch
Slide 19: Strategic investment from Allianz X and Constellation Wealth Capital
19AlTi Global AlTi’s recent strategic investment from Allianz X and Constellation Wealth Capital is a game-changer Global financial services provider across the insurance and asset management sectors, providing financial security and certainty to its customers for 130+ years. CWC provides flexible,
Slide 20: Pipeline and criteria for future acquisitions
20AlTi Global U.S. & International Markets $2B to $20B AUM per Target in UHNW Managers $1B to $10B AUM per Target in Strategic Alternatives Profile • Proven low volatility, long-duration earnings • Bias towards management vs. performance/incentive fee income • Attractive top-line growth potential •
Slide 21: Expected financial drivers
21AlTi Global Expected financial drivers Well-defined path with a clear trajectory for long term growth Stable recurring revenue foundation Topline growth fueled by new partnerships Revenue diversification through emerging strategies and solutions Economies of scale that leverage global distribution
Slide 22: Public investor considerations – public shares
22AlTi Global Public investor considerations – public shares Increase in publicly traded shares(1) • AlTi has two classes of common shares – Class A and Class B • Shares of Class B Common Stock are not publicly traded; however, Class B shareholders have the right to convert their Class B stock to Cl
Slide 23: Public investor considerations – governance
23AlTi Global Public investor considerations – governance Timothy Keaney Bank of New York Board Chair Norma Corio American Express Global Business Travel Mark Furlong BMO Harris Bank Tracey Brophy Warson Citi Private Bank Independent Board Directors Trusted fiduciaries with strong individual track r
Slide 24: AlTi is at an inflection point
24AlTi Global AlTi is at an inflection point Strategic investment from Allianz and CWC Partnerships and growth capital to turbocharge AlTi’s growth story World-class team AlTi has the management, governance, and employee talent to win Complimentary businesses Interplay between Wealth and Alts is syn
Slide 25: Thank You
25AlTi Global Thank You
Slide 26: Appendix
26AlTi Global Appendix
Slide 27: Financial Key Performance Metrics
27AlTi Global Financial(1) Key Performance Metrics • Revenues of $49.5 million • 99% of Total Revenues are recurring • GAAP Net Loss of $9.0 million, Adjusted Net Loss of $2.6 million • Adjusted EBITDA of $5.5 million • $55.9 billion of AUM/AUA, increased 15% YoY and 5% QoQ Wealth Management • $16.0
Slide 28: Q2 2024 financial commentary
28AlTi Global • Revenue of $49.5M decreased 4% YoY primarily due to a decrease in other income related to transactional fees. Management fees were essentially flat as fee reductions from businesses exited were compensated by the acquisition of East End, which contributed $5M in the quarter. On a lik
Slide 29: Consolidated income statement
29AlTi Global Consolidated income statement ($ in Thousands, except share data) 2Q’24 1Q’24 2Q’23 Revenue Unaudited Unaudited Unaudited Management/advisory fees $47,029 $46,224 $46,844 Incentive fees 53 163 469 Distributions from investments 2,240 4,170 2,203 Other income/fees 131 255 1,769 Total in
Slide 30: Consolidated balance sheet
30AlTi Global Consolidated balance sheet ($ in Thousands, except share data) As of June 30, 2024 As of March 31, 2024 As of December 31, 2023 Assets Unaudited Unaudited Audited Cash and cash equivalents $59,984 $134,237 $15,348 Fees receivable, net 32,381 35,087 70,421 Investments at fair value 162,
Slide 31: Non-GAAP reconciliation Q2 2024
31AlTi Global Non-GAAP reconciliation Q2 2024 2Q’24 ($ in Thousands) Total AlTi Net income (loss) before taxes ($9,715) Stock based compensation(1) 3,599 Transaction expenses(2) 8,353 Changes in fair value of warrant liability(3) (409) Changes in fair value of (gains)/loss on TRA(4) (389) Changes in