Quarterly AUM Growth
Assets under management ended the quarter at $1.61 trillion, increased from the prior quarter due to positive markets and strengthening flows.
Improvement in Net Flows
Long-term net outflows totaled $9.3 billion, a marked improvement from the prior quarter's outputs of $26.2 billion. Excluding Western Asset Management, long-term net inflows were $7.8 billion.
Strong Alternatives and ETF Growth
Fundraising in alternatives generated $6.2 billion for the quarter. The ETF platform achieved its 15th consecutive quarter of positive net flows, attracting $4.3 billion and reached a new high of $44.1 billion in AUM, representing 19% growth from the prior quarter.
Increased Institutional Pipeline
The institutional pipeline of won but unfunded mandates rose by net $4 billion to a record $24.4 billion.
Successful Acquisition to Expand Capabilities
Announced an agreement to acquire a majority interest in Apera Asset Management, expanding direct lending capabilities across Europe's lower middle market.