AUM grew 0.8% year-over-year to $37.0 billion, with revenue nearly flat and net income down sharply due to higher expenses. Adjusted EBITDA margin declined to 11.2%, and cash balances fell as the firm continued dividends, partner distributions, and share repurchases. Market appreciation offset net…
AUM grew 0.8% year-over-year to $37.0 billion, with revenue nearly flat and net income down sharply due to higher expenses. Adjusted EBITDA margin declined to 11.2%, and cash balances fell as the firm continued dividends, partner distributions, and share repurchases. Market appreciation offset net client outflows, and equity strategies showed strong performance.
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