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Silvercrest Asset Management Group Inc. reported Q1 2024 results, showing positive growth in Discretionary Assets Under Management, Total AUM, and revenue. The company is focusing on new opportunities, investments, and international expansion. While revenue increased, higher expenses impacted most metrics, with a noticeable rise in compensation expenses. Despite challenges, Silvercrest's pipeline of new institutional business opportunities doubled, positioning the firm for positive flows. The company declared a dividend, indicating confidence in its financial position.
Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) has expanded its international and global equity capability by hiring Rehan Chaudhri, James A. Dunn, Jr., Ken Dennig, and Robert Gondolfo. The team will enhance the firm's investment capabilities and global outreach with their Global Equity Strategy, providing comprehensive offerings to families and institutional investors. Rehan Chaudhri and his team bring significant investment expertise and experience managing equity mandates for large institutions worldwide. Chaudhri, a Managing Director and Lead Portfolio Manager, has a proven track record in global and international value equity markets. James A. Dunn, Jr., a Managing Director, brings over 25 years of professional investing experience. Ken Dennig, a former partner at Altrinsic Global Advisors, has over 20 years of investment experience. Robert Gondolfo, a Senior Vice President, brings expertise in process improvement initiatives and back-office operations.
Silvercrest Asset Management Group Inc. (SAMG) will host a teleconference on May 3, 2024, to discuss the financial results for the first quarter ended March 31, 2024. Chairman Richard R. Hough III and CFO Scott A. Gerard will review the results, followed by a Q&A session for analysts and investors.
