AllianceBernstein Holding, L.P. - AB STOCK NEWS

AllianceBernstein L.P. (AB) reported a significant increase in assets under management (AUM), rising from $647 billion in June to $689 billion by July 31, 2022, marking a 6.5% increase fueled by market appreciation and the acquisition of CarVal Investors. However, net outflows were noted, contributing to a $1.7 billion decrease due to AXA S.A's ongoing redemption of low-fee fixed income mandates, with $2.3 billion still expected to be redeemed. Despite overall outflows, Institutional net flows remained positive for July.

AllianceBernstein Holdings L.P. (AB) has successfully closed its US Commercial Real Estate Debt Fund IV, securing $1.3 billion in commitments from global institutional investors. This fund raises the platform's total capital commitments to over $4.5 billion since December 2020. The US Commercial Real Estate Debt platform now manages total assets of $10.5 billion, with $9.0 billion actively managed. The closing reflects the firm's strong portfolio management amid market challenges, including the COVID-19 pandemic, and supports its growth strategy in private markets.

AllianceBernstein Holding L.P. (AB) reported second quarter 2022 financial results, highlighting a GAAP diluted net income of $0.69 per unit and adjusted diluted net income of $0.71 per unit. Total net revenues fell to $971.4 million, a 9.8% decrease year-over-year, attributed to lower performance fees and investment advisory fees. Assets under management dropped 12% to $646.8 billion. The firm faced net outflows of $2.7 billion, contrasted by organic growth in some sectors. The cash distribution of $0.71 per unit is scheduled for August 18, 2022.

AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) will release their Second Quarter 2022 financial results on July 29, 2022. A teleconference will follow at 9:00 am (CT), hosted by CEO Seth Bernstein and CFO Catherine Burke. Investors can access the call via webcast or telephone. A replay will be available after the call, including an audio replay for one week. As of June 30, 2022, AllianceBernstein Holding owned approximately 35.7% of AllianceBernstein, while Equitable Holdings owned about 65%.

AllianceBernstein (AB) reported a decrease in assets under management (AUM) to $647 billion as of June 30, 2022, down from $687 billion at the end of May, representing a 6% decline. This drop was mainly due to negative market conditions and modest net outflows. Notably, AUM included $0.5 billion from ongoing redemptions by AXA S.A. for low-fee mandates, with an estimated $4.0 billion pending redemption by year-end. While Private Wealth saw net inflows, Retail and Institutions experienced outflows, reflecting mixed performance across channels.

AllianceBernstein Holding L.P. (NYSE: AB) announces key leadership changes, appointing Kate Burke as Chief Financial Officer (CFO) while retaining her role as Chief Operating Officer (COO). She succeeds Bill Siemers, who returns to his previous position. Onur Erzan, formerly Head of Global Client Group, now leads Bernstein Private Wealth in addition to his existing responsibilities. These changes are aimed at enhancing the firm's ability to meet client needs and drive future growth. As of May 31, 2022, AllianceBernstein managed $687 billion in assets.

AllianceBernstein has successfully completed its acquisition of CarVal Investors, announced on March 17, 2022. CarVal, based in Minneapolis, brings approximately $15 billion in assets under management (AUM), enhancing AB's private markets platform to $50 billion in AUM. This strategic move aims to grow AB's Private Alternatives business, with strong fundraising momentum evidenced by $2.1 billion raised by CarVal. The firm will now operate as AB CarVal Investors, further solidifying its commitment to delivering value to clients.

AllianceBernstein (NYSE: AB) announced a collaboration with Allfunds Blockchain to integrate blockchain technology into its asset services. This partnership aims to enhance operational processes within the fund industry, leveraging Allfunds Blockchain's technology for improved efficiency, accuracy, and security. With $687 billion in assets under management as of May 31, 2022, AB seeks to utilize blockchain to deliver transformative solutions to a broader investor base. The collaboration emphasizes the importance of disruptive technologies in advancing the asset management sector.

AllianceBernstein L.P. (AB) announced a rise in assets under management to $687 billion as of May 31, 2022, from $685 billion at April 30, 2022. This increase resulted from positive net inflows across institutions and slight market appreciation. However, net inflows to institutions were somewhat offset by minor outflows from retail and private wealth channels. The announcement indicates a stable financial position for AB, though it signifies mixed performance across different client segments.