Strong Capital Return Proposal
The Board proposed a return of capital to free-float shareholders at $4.202 per share, which includes a 35% premium to the previous day's closing share price and a 41% premium to the volume-weighted average price over the past 6 months.
Growth in Asset Under Management (AUM)
Total AUM grew by 6%, reaching $351 billion, while fee-paying AUM saw a 3% increase despite challenging market conditions.
Increase in Adjusted Earnings Per Share
Adjusted earnings per share rose by 35% compared to the first half of the previous year, driven by increased interest income.
Successful M&A Activities
The company successfully executed several transactions, including the sale of its stake in General Catalyst for $726 million and the acquisition of a stake in Frazier Healthcare Partners for $330 million.