Great Elm Group, Inc. reports developments as a publicly traded alternative asset manager with credit and real estate platforms. Its updates commonly cover fee-paying assets under management, management and incentive fees, investment gains and losses, balance-sheet liquidity, common-stock repurchases, and capital raised at the company or its managed vehicles.
Recurring company news also centers on Great Elm Capital Corp., the business development company managed by Great Elm Capital Management, and the Monomoy real estate platform. Those items include GECC portfolio and dividend commentary, Monomoy REIT acquisition activity, build-to-suit industrial development projects, real estate asset management, procurement and construction services, and the consolidation of real estate subsidiaries under Great Elm Real Estate Ventures.
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Great Elm Group reported significant financial developments for the fiscal second quarter ending December 31, 2022. Total revenue surged 84% to $1.9 million, driven by the management agreement acquisition for Monomoy Properties REIT. The company achieved a net income of $29.7 million, recovering from a $4.2 million net loss the previous year, mainly due to substantial investment gains. Strategic asset sales included an $80 million divestiture of its Durable Medical Equipment business and a $45 million stake sale in Forest Investments, increasing cash resources for further investments. GEG's assets under management stood at $619 million.