AllianceBernstein Holding, L.P. - AB STOCK NEWS

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.

AllianceBernstein (NYSE: AB) announced that President and CEO Seth Bernstein will participate in the Morgan Stanley US Financials, Payments and CRE Conference on June 15, 2022, at 10:00 a.m. (CT), in New York, NY. A live audio webcast will be available on AB's Investor & Media Relations website, with a replay accessible afterwards. As of March 31, 2022, AllianceBernstein Holding owned about 36.3% of AllianceBernstein, while Equitable Holdings owned approximately 64.5% of the economic interest in the firm.

On May 10, 2022, AllianceBernstein L.P. reported a decline in preliminary assets under management, falling to $685 billion in April 2022 from $735 billion at the end of March, marking a 7% decrease. This drop was primarily attributed to market depreciation and net outflows across Private Wealth, Retail, and Institutional channels. The report uses data as of April 30, 2022, highlighting the firm's challenges in maintaining assets amid a volatile market environment.

On May 3, 2022, AllianceBernstein L.P. (NYSE: AB) announced that Kate Burke, Chief Operating Officer and Head of Private Wealth, will participate in the Barclays Americas Select Franchise Conference on May 10, 2022. The session is set to start at 9:00 a.m. BST (3:00 a.m. CT) in London. A live audio webcast will be available on the Investor & Media Relations section of AB's website, with a replay accessible afterward. As of March 31, 2022, AllianceBernstein Holding owned approximately 36.3% of AllianceBernstein, while Equitable Holdings, Inc. held about 64.5% economic interest.

AllianceBernstein L.P. (AB) has officially unveiled its new corporate headquarters at 501 Commerce in Nashville, Tennessee, covering over 221,000 square feet. The move marks the culmination of nearly four years of planning since relocating from New York in May 2018. The headquarters includes modern workspaces, advanced technology conference rooms, and sustainable design features, achieving LEED Silver certification. As of Q1 2022, AB employed over 1,000 staff in Nashville, aiming for 1,250 by 2024.

AllianceBernstein L.P. (AB) reported a GAAP diluted net income of $0.87 per unit for Q1 2022, with an adjusted diluted net income of $0.90 per unit. Net revenues increased by 10% year-over-year to $1.1 billion. Despite a net outflow of $1 billion from the retail channel, the firm saw a strong total net inflow of $11.4 billion. Operating income was $248 million with a 24.7% margin, down from 30.8% last quarter. Cash distribution per unit remains steady at $0.90.

AllianceBernstein (NYSE: AB) will release its First Quarter 2022 financial results on April 29, 2022, with a teleconference at 8:00 am (CT). The call will be hosted by President and CEO Seth Bernstein, CFO William Siemers, and COO Catherine Burke. Interested parties can access the call via webcast or telephone; details are available on AB's Investor Relations website. A replay will be available post-call for two weeks. As of March 31, 2022, AllianceBernstein Holding owned about 36.3% of AllianceBernstein, with Equitable Holdings holding approximately 64.5%.