Alti Global, Inc. · NASDAQ:ALTI
Alti Global — Q1 2025 Earnings Presentation
39 slides from Alti Global's earnings presentation, May 12, 2025
Slide 1: First Quarter 2025 Earnings
1AlTi Global First Quarter 2025 Earnings | May 12, 2025
Slide 2: Notes and Important Disclosures
2AlTi Global Notes and Important Disclosures About AlTi Global AlTi Global is a leading independent global wealth manager providing entrepreneurs, multi-generational families, institutions, and emerging next-generation leaders with fiduciary capabilities as well as alternative investment strategies
Slide 3: AlTi Global at-a-glance
3AlTi Global at-a-glance U.S. vs. Non-U.S. AUM/AUA for top 25 wealth management clients 59% vs. 41%$76B Consolidated AUM/AUA 5 Acquisitions and integrations completed, or in process, globally since 2023 Client retention rate since 2020 96% 19 Offices across the globe in major financial centers Globa
Slide 4: Becoming the preeminent, global UHNW wealth firm
4AlTi Global Comprehensive platform for UHNW 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 inorganic growth opportunities
Slide 5: Transformative strategic investments from two prominent institutional investors
5AlTi Global Transformative strategic investments from two prominent institutional investors 1980 1999 2009 2023 2024 Establishment of Tiedemann Investment Group (“TIG”) Founded Tiedemann Trust Company (later rebranded as Tiedemann Wealth Management) Merger of entities and listed on NASDAQ on Jan 4,
Slide 6: Our addressable market – Wealth management
6AlTi Global Our addressable market –Wealth management Market Share by Advisor Channel (6) HNW / UHNW market is estimated at $102T and is expected to grow at a ~7% CAGR to 2028 Enormous upside potential, providing AlTi a long runway for future growth $76B (5) 0.07% 1) Source: Morgan Stanley and Oliv
Slide 7: Our addressable market – Alternatives and Impact for UHNW
7AlTi Global $9 $17 $29 $30 2017 2023 2029P 2030P 1) Source: Preqin, Global alternatives markets on course to exceed $30tn by 2030 2) Source: Capgemini research institute, 2024 World Wealth Report 3) Source: Capgemini research institute, Wealth managers can reignite investors’ waning ESG enthusiasm
Slide 8: Business Overview
8AlTi Global Business Overview
Slide 9: How we serve our clients
9AlTi Global - Tax optimization - Optimal wealth structures - Global trustee services - Administration of partnership structures How we serve our clients 1) General guidance; may differ based on specific client circumstance Trust & Fiduciary Family Office Services Philanthropy & Purposeful Giving Go
Slide 10: Industry awards and recognition
10AlTi Global 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 With Intelligence Private Asset Management Awards Best Multi-Family Office Over $25 Billion (2024) (2025) Best Outsourc
Slide 11: How we generate revenue
11AlTi Global How we generate revenue AlTi’s topline performance is driven by recurring fee streams ~ 80% Recurring revenue (1) ~ 20% Non-recurring revenue (1) Management / advisory fees • Investment management, advisory, trustee, and administration fees • Management fees in Distributions from inves
Slide 12: Differentiated, comprehensive, and independent platform
12AlTi Global Note: Illustrative only; denotes general characteristics in each category Differentiated, comprehensive, and independent platform Well-positioned to meet and exceed the diverse needs of an expanding client base Boutique Multi-Family Offices Independent Wealth Managers End-market focus
Slide 13: Global Footprint
13AlTi Global 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 Unique global footprint Long-term expansion plan leveraging global footprint 8 Countries 19 Cities
Slide 14: AlTi is at an inflection point
14AlTi Global AlTi is at an inflection point Strategic investment from Allianz X and CWC Partnerships and growth capital to accelerate AlTi’s growth story Skilled team AlTi has the management, governance, and employee talent to win Complementary expertise Interplay between Wealth, Alts and Impact is
Slide 15: Strategic investments provide capital, access and relationships
15AlTi Global Strategic investments provide capital, access and relationships 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, long-term capital solutions and strat
Slide 16: Pipeline and criteria for future acquisitions
16AlTi Global U.S. & International Markets $2B to $20B AUM per Target in UHNW Managers Profile • Proven low volatility, long-duration earnings • Bias towards management vs. performance/incentive fee income • Attractive top-line growth potential • Proven high and sustainable margins • Accretive to ea
Slide 17: Allianz partnership extends beyond growth capital
17AlTi Global Allianz partnership extends beyond growth capital AlTi and Allianz Global Investors announced a private markets investment program for UHNW wealth segment To provide unprecedented access to leading third-party managers with low minimum ticket sizes and expanded investment opportunities
Slide 18: Leadership
18AlTi Global Business Leads Broad, global industry experience Leadership Michael Tiedemann Chief Executive Officer Kevin Moran President / Chief Operating Officer Michael Harrington Chief Financial Officer Colleen Graham Chief Legal, Compliance and Risk Officer Claire Verdirame Chief Marketing Offi
Slide 19: Governance
19AlTi Global 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 records Audit, Finance and Risk En
Slide 20: Growth focused on stable, recurring revenue wealth management business
20AlTi Global 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 partners Strong pipeline of strategic and accretive M&A opportunities globally Init
Slide 21: Financial Highlights
21AlTi Global Financial Highlights
Slide 22: First Quarter Highlights
22AlTi Global Financial(1) Key Performance Metrics • Revenues $58 million • Wealth Management and Capital Solution (“WM & CS”) revenues $57 million and Management fees $45 million, up 23% and 6% YoY, respectively • 83% of total revenues are recurring • GAAP Net Loss $3 million, Adjusted Net Income $
Slide 23: First Quarter 2025 Select Financial and Operating Metrics
23AlTi Global First Quarter 2025 Select Financial and Operating Metrics • Revenue of $58M, up 14% compared to $51M in Q1 2024 driven primarily by higher Distributions from Investments from our stakes in external managers. 83% of revenues were from recurring fees. • Total Operating Expenses of $72M c
Slide 24: Wealth & Capital Solutions segment results
24AlTi Global • Revenue of $57M, up 23% compared to $47M in Q1 2024. This growth was largely driven by higher management fees, supported by a 10% increase in segment assets, reflecting both the integration of the East End and Envoi acquisitions as well as strong underlying portfolio performance. The
Slide 25: Wealth Management Operating Metrics – AUM/AUA
25AlTi Global Wealth & Capital Solutions – Wealth Management Operating Metrics – AUM/AUA Assets Under Management (AUM) See definitions in the Appendix. Note: Due to rounding, numbers presented throughout this presentation may not add up precisely to the totals provided. Assets Under Advisement (AUA)
Slide 26: Alternatives Platform Operating Metrics – AUM/AUA
26AlTi Global Wealth & Capital Solutions – Alternatives Platform Operating Metrics – AUM/AUA Alternatives Platform See definitions in the Appendix. 1) The fair value of this investment is reported on a one-month lag. ($ in Millions) January 1, 2025 Gross Appreciation Subscriptions Redemptions Distri
Slide 27: Alternatives Platform Fund Performance
27AlTi Global Wealth & Capital Solutions – Alternatives Platform Operating Metrics Alternatives Platform Fund Performance(1) 1) Past performance does not guarantee or indicate future results. The historical net performance presented above are unaudited. Please refer to Appendix for additional inform
Slide 28: International Real Estate Select Financial and Operating Metrics
28AlTi Global International Real Estate Select Financial and Operating Metrics Real Estate - Public & Private Funds Note: Due to rounding, numbers presented throughout this presentation may not add up precisely to the totals provided. 1) AUA is reported with a one-quarter lag for HLIF as management
Slide 29: Consolidated Income Statement
29AlTi Global Consolidated Income Statement Note: Due to rounding, numbers presented throughout this presentation may not add up precisely to the totals provided. ($ in Thousands, except share data) 1Q’25 1Q’24 Revenue Unaudited Unaudited Management/advisory fees $45,650 $46,224 Incentive fees 96 16
Slide 30: Consolidated Balance Sheet
30AlTi Global Consolidated Balance Sheet Note: Due to rounding, numbers presented throughout this presentation may not add up precisely to the totals provided. ($ in Thousands, except share data) As of March 31, 2025 As of December 31, 2024 Unaudited Unaudited Assets Cash and cash equivalents $52,84
Slide 31: Segment Income Statement
31AlTi Global Segment Income Statement ($ in Thousands) Wealth & Capital Solutions International Real Estate Corporate Total Wealth & Capital Solutions International Real Estate Corporate * Total Revenue Management/advisory fees $44,774 $876 $— $45,650 $42,086 $4,138 $— $46,224 Incentive fees 96 — —
Slide 32: Segment Income Statement (cont.)
32AlTi Global Segment Income Statement (cont.) Note: Due to rounding, numbers presented throughout this presentation may not add up precisely to the totals provided. ($ in Thousands) Wealth & Capital Solutions International Real Estate Corporate Total Revenue Management/advisory fees $46,163 $1,406
Slide 33: Non-GAAP Reconciliation
33AlTi Global g) Add-back of cost to implement organization change to derive cost synergy, including consulting fees, severance charges, technology implementation costs, and bad debt expense related to strategic portfolio realignment. h) Add-back of impairment of carried interest/equity method inves
Slide 34: Non-GAAP Reconciliation (cont.)
34AlTi Global Non-GAAP Reconciliation (cont.) ($ in Thousands) Wealth & Capital Solutions International Real Estate Corporate Total Net income before taxes $ (48,333) $ (8,460) $ (30,150) $ (86,943) Stock based compensation (a) 5,934 (200) 855 6,589 Stock based compensation - Legacy (b) - - - - Tran
Slide 35: Appendix
35AlTi Global Appendix
Slide 36: Glossary
36AlTi Global 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 r
Slide 37: Footnotes
37AlTi Global 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 focuses on 0-to-30-day events
Slide 38: Strategic investment terms: Allianz X and CWC
38AlTi Global Investment • Up to $300M ($250M funded July 31, 2024. Option to invest an additional $50M in the future) • $150M ($115M funded in April 2024 and $35M funded in May 2024) Common stock • $110M at close through a new issue of 19.3 million shares of common stock (Class A) at a price of $5.
Slide 39: Thank You
39AlTi Global Thank You