Alti Global, Inc. · NASDAQ:ALTI
Alti Global — Q4 2024 Earnings Presentation
44 slides from Alti Global's earnings presentation, Mar 13, 2025
Slide 1: Fourth Quarter and Full Year 2024 Earnings
Fourth Quarter and Full Year 2024 Earnings | March 13, 2025 AlTi Global 1
Slide 2: Notes and Important Disclosures
Notes and Important Disclosures This Presentation (together with oral statements made in connection herewith, the “Presentation”) is for informational purposes only to assist interested parties in evaluating AlTi Global, Inc. (along with its consolidated subsidiaries, “AlTi Global” or the "Company")
Slide 3: At-a-glance
at-a-glance 20+ 96% $76B 96% 64% vs. 36% U.S. vs. Non-U.S. Years operating history Recurring revenues Client retention rate since 2020 Consolidated AUM/AUA AUM/AUA for top 25 wealth focused on UHNW management clients 19 5 $5B 9 Acquisitions and integrations Years of average tenure for Global strateg
Slide 4: Becoming the preeminent, global UHNW wealth firm
Becoming the preeminent, global UHNW wealth firm Large and expanding addressable market Comprehensive platform for UHNW families and wealth managers Uniquely global footprint Recurring and diversified revenue Identified pipeline of inorganic growth Strong capital position underpinned opportunities b
Slide 5: How we got here
How we got here Over the past 40+ years, we have grown into an independent, global Ultra-High-Net-Worth wealth management platform with differentiated Alts and Impact Investing capabilities 1980 1999 2009 2023 2024 Now Establishment of Founded Tiedemann Trust Global multi-family office Merger of ent
Slide 6: Our addressable market – Wealth management
Our addressable market –Wealth management Independent channels continue to gain market share Market Share by Advisor Channel (6) HNW / UHNW RIA B/D Wirehouse $264T (2) (4) market is Global Financial Wealth 28% estimated at 39% 32% $102T and is $102T (1) (2) (3) 41% expected to grow HNW and UHNW Inve
Slide 7: Our addressable market – Alternatives and Impact for UHNW
Our addressable market – Alternatives and Impact for UHNW Global Demand for Alternatives(1) With Impact Priority(2) Alternative AUM/AUA Growth and Forecast (2017-2030P) Relevance of ESG Factors $Trillions Request ESG scores Do not request ESG scores $29 $30 32% 68% of HNWIs request $17 ESG scores fo
Slide 8: Business Overview
Business Overview AlTi Global 8
Slide 9: How we serve our clients
How we serve our clients Investment Advisory Services Estate & Wealth Planning - Customized portfolios - Estate and succession planning - Differentiated expertise in alternatives and impact - Event and asset planning - Newly established private debt partnership with Allianz - Tax management and miti
Slide 10: Industry Recognitions
Industry Recognitions Our firm and its leaders have received numerous industry awards, solidifying our reputation for best-in-class service through third-party recognition. Firm awards won Individual awards and recognitions With Intelligence Private Asset Management Awards Spear’s Investment Week Be
Slide 11: How we generate revenue
How we generate revenue AlTi’s topline performance is driven by recurring fee streams ~ 80% Recurring revenue (1) ~ 20% Non-recurring revenue (1) Highly recurring Management / advisory fees revenue nature Other revenue • Investment management, advisory, trustee, and • Incentive fees in Distributions
Slide 12: Differentiated, comprehensive, and independent platform
Differentiated, comprehensive, and independent platform Well-positioned to meet and exceed the diverse needs of an expanding client base Independent Wealth Boutique Managers Multi-Family Offices End-market focus HNW / UHNW expertise Independent, Integrated and International Platform approach Tailore
Slide 13: Unique global footprint
Unique global footprint Global Footprint AlTi Presence Announced AlTi Presence in 2025 8 Countries Global Headquarters 19 Cities Hamburg London Hong Kong Zurich Paris Minneapolis Geneva Seattle Lugano Portland New York San Francisco Wilmington Milan Washington, D.C. Lisbon Dallas Palm Beach Singapor
Slide 14: AlTi is at an inflection point
AlTi is at an inflection point Skilled team AlTi has the management, governance, and employee talent to win Complementary expertise Interplay between Wealth, Alts and Impact is synergistic and underscores our unique story Strategic investment from Allianz X and CWC Partnerships and growth capital to
Slide 15: Strategic investments provide capital, access and relationships
Strategic investments provide capital, access and relationships AlTi announced strategic investment of up to $450M from our partners, Allianz X and CWC benefits from the strategic investment Global financial services provider across the insurance and asset Fund M&A pipeline for compelling inorganic
Slide 16: Allianz and CWC's investment is already bearing fruit
Allianz and CWC’s investment is already bearing fruit AlTi expects to use the and capital principally to fund accretive M&A Notable acquisitions completed or announced Pipeline and criteria for future acquisitions (1) U.S. & $2B to $20B • New York-based independent advisory firm with ~$6B AUM Intern
Slide 17: Allianz partnership extends beyond growth capital
Allianz partnership extends beyond growth capital A majority-owned joint venture to pioneer AlTi and Allianz Global UHNW wealth access to private credit Investors announced a private markets investment Key Attributes program for UHNW wealth Focus on $1.5 trillion global Market private credit market,
Slide 18: Leadership
Office US Europe Leadership Executive Team Michael Tiedemann Kevin Moran Michael Harrington Colleen Graham Colin Peters Claire Verdirame Phillip Dundas Chief Executive Officer President / Chief Financial Officer Global General Counsel Chief Human Chief Marketing Officer Chief Technology Officer Chie
Slide 19: Governance
Governance Independent Board Directors Dependent Board Directors Board Committees Audit, Finance and Risk Timothy Keaney Norma Corio Mark Furlong Michael Tiedemann Ali Bouzarif Bank of New York American Express BMO Harris Bank Chief Executive Officer IlWaddi representative Board Chair Global Busines
Slide 20: Expected financial drivers
Expected financial drivers Well-defined path with a clear trajectory for long term growth Growth focused on stable, recurring revenue wealth management business Topline growth fueled by organic and inorganic growth strategy, supported by capital, relationships, scale and network of strategic 01. Top
Slide 21: Financial Highlights
Financial Highlights AlTi Global 21
Slide 22: Fourth Quarter and FY 2024 Highlights
Fourth Quarter and FY 2024 Highlights Financials and KPIs Q4 2024 FY 2024 • Revenues $53 million. Management fee revenues $48 • Revenues $207 million. Management fee revenues $191 million, up 9% YoY million, up 5% YoY • Wealth Management and Capital Solution • WM & CS revenues $198 million and Manag
Slide 23: Fourth Quarter and FY 2024 Highlights
Fourth Quarter and FY 2024 Highlights • Announced strategic investment of up to $450 million from Allianz X and Constellation Wealth Capital • Received $250 million from Allianz X in July and $150 million from CWC in March and May • Completed the acquisition of Envoi, a Minneapolis-based MFO with ~$
Slide 24: Full Year 2024
Full Year 2024 Select Financial and Operating Metrics • Revenue of $207M compared to $247M in 2023 which included a one-time $41M ($ in Millions) FY24 FY23 % Change incentive fee associated with the strong performance of the event driven strategy in Q4 2023. Management fees increased 5% reflecting p
Slide 25: Fourth Quarter 2024
Fourth Quarter 2024 Select Financial and Operating Metrics • Revenue of $53M compared to $89M in 2023 which included a one-time $41M ($ in Millions) 4Q’24 4Q’23 % Change 3Q’24 (2) % Change incentive fee associated with the strong performance of the event driven strategy in Revenue $53.3 $89.4 (40)%
Slide 26: Wealth & Capital Solutions – Full Year 2024
Wealth & Capital Solutions – Full Year 2024 Select Financial and Operating Metrics • Revenue of $198M compared to $221M in 2023 which included a one-time $41M incentive fee ($ in Millions) FY 2024 FY 2023 % Change associated with the strong performance of the event driven strategy in Q4 2023. Manage
Slide 27: Wealth & Capital Solutions – Fourth Quarter 2024
Wealth & Capital Solutions – Fourth Quarter 2024 Select Financial and Operating Metrics • Revenue of $52M compared to $85M in 2023 which included a one-time $41M ($ in Millions) 4Q’24 4Q’23 % Change 3Q’24 % Change incentive fee associated with the strong performance of the event driven strategy in R
Slide 28: Wealth & Capital Solutions – Wealth Management
Wealth & Capital Solutions – Wealth Management Operating Metrics – AUM/AUA Assets Under Advisement (AUA) Assets Under Management (AUM) ($ in Billions) 4Q’24 4Q’23 FY 2024 FY 2023 ($ in Billions) 4Q’24 4Q’23 FY 2024 FY 2023 Beginning Balance: $ 44.7 $ 32.9 $ 34.5 $ 28.0 Beginning Balance: $61.0 $48.5
Slide 29: Wealth & Capital Solutions – Alternatives
Wealth & Capital Solutions – Alternatives Operating Metrics – AUM/AUA Alternatives Platform Gross Average ($ in Millions) September 30, 2024 Appreciation Subscriptions Redemptions Distributions December 31, 2024 AUM/AUA Event-Driven $2,027 $(11) $82 $(373) $(6) $1,719 $1,873 External Strategic Manag
Slide 30: Wealth & Capital Solutions – Alternatives
Wealth & Capital Solutions – Alternatives Operating Metrics – AUM/AUA Alternatives Platform Fund Performance(1) ($ in Millions) 4Q’24 3Q’24 2Q’24 1Q’24 4Q’23 FY 2024 FY 2023 Event-Driven (0.35)% 0.60 % 0.02 % (0.26)% 5.40 % —% 10.51 % External Strategic Managers: Real Estate Bridge Lending 0.45 % (0
Slide 31: International Real Estate
International Real Estate Select Financial and Operating Metrics ($ in Millions) 4Q’24 4Q’23 % Change 3Q’24 % Change FY 2024 FY 2023 % Change Revenue $1.9 $4.5 (58)% $1.5 27 % $8.5 $25.8 (67)% Mgmt./Advisory Fees 1.4 2.6 (46)% 1.5 (7)% 7.9 20.1 (61)% Incentive Fees 0.0 0.0 (100)% 0.0 N/A 0.0 0.7 (10
Slide 32: Consolidated Income Statement
Consolidated Income Statement ($ in Thousands, except share data) 4Q’24 4Q’23 3Q’24 FY 2024 FY 2023 Revenue Unaudited Unaudited Unaudited Unaudited Unaudited Management/advisory fees $47,569 $43,543 $49,633 $190,455 $180,861 Incentive fees 2,952 41,446 88 3,256 43,377 Distributions from investments
Slide 33: Consolidated Balance Sheet
Consolidated Balance Sheet ($ in Thousands, except share data) As of December 31, 2024 As of December 31, 2023 Assets Cash and cash equivalents $65,494 $15,348 Fees receivable, net (includes $920 and $16,069 of related party receivables, respectively) 33,616 70,421 Investments at fair value 148,674
Slide 34: Segment Income Statement
Segment Income Statement For the Three Months Ended 12/31/2024 For the Three Months Ended 12/31/2023 Wealth & Capital International Real Wealth & Capital International Real ($ in Thousands) Solutions Estate Corporate Total Solutions Estate Corporate Total Revenue Management/advisory fees $46,163 $1,
Slide 35: Segment Income Statement (cont.)
Segment Income Statement (cont.) For the Three Months Ended 09/30/2024 Wealth & Capital International Real ($ in Thousands) Solutions Estate Corporate Total Revenue Management/advisory fees $48,101 $1,532 $— $49,633 Incentive fees 88 0 0 88 Distributions from investments 3,562 0 0 3,562 Other income
Slide 36: Segment Income Statement (cont.)
Segment Income Statement (cont.) For the Fiscal Year Ended 12/31/2024 For the Fiscal Year Ended 12/31/2023 Wealth & Capital International Real Wealth & Capital International Real ($ in Thousands) Solutions Estate Corporate Total Solutions Estate Corporate Total Revenue Management/advisory fees $182,
Slide 37: Non-GAAP Reconciliation
Non-GAAP Reconciliation For the Three Months Ended 12/31/2024 For the Three Months Ended 12/31/2023 Wealth & Capital International Real Wealth & Capital International Real ($ in Thousands) Solutions Estate Corporate Total Solutions Estate Corporate Total Net income before taxes $ (49,073) $ (8,351)
Slide 38: Non-GAAP Reconciliation (cont.)
Non-GAAP Reconciliation (cont.) For the Three Months Ended 9/30/2024 Wealth & Capital International Real ($ in Thousands) Solutions Estate Corporate Total Net income before taxes $ (75,075) $ (47,902) $ 2,089 $ (120,888) Stock based compensation (a) 6,516 (10) 1,031 7,537 Stock based compensation -
Slide 39: Non-GAAP Reconciliation (cont.)
Non-GAAP Reconciliation (cont.) For the Fiscal Year Ended 12/31/2024 For the Fiscal Year Ended 12/31/2023 Wealth & Capital International Real Wealth & Capital International Real ($ in Thousands) Solutions Estate Corporate Total Solutions Estate Corporate Total Net income before taxes $ (115,356) $ (
Slide 40: Appendix
Appendix AlTi Global 40
Slide 41: Glossary
Glossary Assets Under Management and Assets Under Advisement. For financial presentation purposes, total assets under management and assets under advisement (“AUM/AUA”) of AlTi Global is calculated as set forth below: AUM/AUA includes billable and non-billable assets. Billable assets represent the p
Slide 42: Footnotes
Footnotes Past performance does not guarantee or indicate future results. The historical net performance presented are unaudited. A description of the strategies is provided below: Event-driven: The Event-driven strategy is based in New York. This strategy, which has $1.7 billion of AUM as of Decemb
Slide 43: Strategic Partnerships
Strategic Partnerships Investment • Up to $300M ($250M funded July 31, 2024. Option to invest an • $150M ($115M funded in April 2024 and $35M funded in May additional $50M in the future) 2024) Common stock • $110M at close through a new issue of 19.3 million shares of common • N/A stock (Class A) at
Slide 44: Thank You
Thank You AlTi Global 44