MGRD - Affiliated Managers Group Inc. (AMG) Q2 2024 Earnings Call Transcript
2024-07-29 11:07:08 ET
Affiliated Managers Group, Inc. (AMG)
Q2 2024 Earnings Conference Call
July 29, 2024, 08:30 AM ET
Company Participants
Patricia Figueroa - Head of IR
Jay Horgen - President and CEO
Thomas Wojcik - COO
Dava Ritchea - CFO
Conference Call Participants
Alex Blostein - Goldman Sachs
Dan Fannon - Jefferies
Bill Katz - TD Cowen
Patrick Davitt - Autonomous Research
Brian Bedell - Deutsche Bank
Presentation
Operator
Greetings, and welcome to the AMG Second Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Patricia Figueroa, Head of Investor Relations. Thank you. You may begin.
Patricia Figueroa
Good morning, and thank you for joining us today to discuss AMG's results for the second quarter of 2024. Before we begin, I'd like to remind you that during this call, we may make a number of forward-looking statements, which could differ from our actual results materially, and AMG assumes no obligation to update these statements. A replay of today's call will be available on the Investor Relations section of our website, along with a copy of our earnings release and a reconciliation of any non-GAAP financial measures, including any earnings guidance announced on this call. In addition, this morning, we posted an updated investor presentation to our website, and encourage investors to consult our site regularly for updated information.
With us today to discuss the company's results for the quarter are Jay Horgen, President and Chief Executive Officer; Tom Wojcik, Chief Operating Officer; and Dava Ritchea, Chief Financial Officer.
With that, I'll turn the call over to Jay.
Jay Horgen
Thanks, Patricia, and good morning, everyone.
Our strong results for the first half of 2024 reflect the continued momentum in our business, driven by the ongoing organic growth of our private markets affiliates, the excellent performance of our liquid alternatives managers, and the positive impact of our disciplined capital allocation strategy.
During the quarter, we invested our capital and resources, alongside our affiliates, to enhance their growth, including seeding a number of new alternative products in the wealth channel. We advanced several discussions with new investment prospects, and we accelerated our share repurchase activity, repurchasing at more than twice our historical pace....
Affiliated Managers Group, Inc. (AMG) Q2 2024 Earnings Call Transcript