AlTi Global plans multi-year wind-down of non-core IRE segment

Rhea-AI Filing Summary

AlTi Global, Inc. (NASDAQ: ALTI) filed an 8-K disclosing that its Board has approved an orderly wind-down of the Company’s non-core International Real Estate (IRE) business. The process will start on or about 11 July 2025 and is expected to be substantially completed by December 2027. Management reached this decision after a comprehensive strategic review of alternatives, signaling a refocus on AlTi’s core wealth management and alternative investment activities.

Because the plan was only just approved, the Company cannot yet determine the size or timing of any related restructuring costs, severance, contract termination fees, or non-cash impairment charges. AlTi pledges to amend the filing within four business days once it can provide a credible estimate or range. Until then, investors lack clarity on the potential earnings drag and cash requirements associated with the exit.

The disclosure triggers two reportable events under Regulation S-K: Item 2.05 (Costs Associated with Exit or Disposal Activities) and Item 2.06 (Material Impairment). No other financial statements or exhibits were provided, and no immediate changes to the Company’s core operations were announced.

Investment view: Strategically, winding down a non-core segment could streamline operations and improve long-term margins. However, the multi-year horizon and absence of cost guidance introduce uncertainty that may pressure valuation multiples until clearer figures emerge.

Positive

• Strategic refocus: Exiting the non-core IRE segment allows management to allocate capital to higher-growth core businesses.
• Orderly multi-year process: A planned wind-down reduces operational disruption compared with an abrupt sale.

Negative

• Potential impairments: Management cannot yet quantify charges, increasing uncertainty over future earnings and book value.
• Extended timeline: Wind-down running until December 2027 keeps the issue in investors’ line of sight for years.
• Lack of cost visibility: No estimates for restructuring expenses hinder financial modelling and may weigh on sentiment.

Insights

Financial Analyst

TL;DR: Orderly exit sharpens focus but unknown charges leave neutral net impact.

Divesting a non-core unit is directionally positive for capital allocation, especially if the IRE segment carried lower margins. Yet management’s inability to quantify cash or P&L effects limits visibility for forecasting EBITDA and free cash flow through 2027. Until updated guidance arrives, I would treat the announcement as strategically sound but financially indeterminate—hence a neutral valuation effect.

Risk Analyst

TL;DR: Multi-year wind-down without cost estimates elevates execution and earnings risk.

The three-year timeline prolongs exposure to property-market volatility, potential legal disputes, and currency swings tied to international assets. Failure to size impairments now suggests they could be material once appraisals and contract terminations crystallize. Investors should brace for sporadic write-downs and cash charges that may tighten covenants or hamper dividends/share buybacks.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): July 10, 2025

AlTi Global, Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-40103	92-1552220
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

22 Vanderbilt Ave., 27th Floor New York, New York		10017
(Address of principal executive offices)		(Zip Code)

(212) 396-5900

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A common stock, par value $0.0001 per share		ALTI		Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.05. Costs Associated with Exit or Disposal Activities.

On July 10, 2025, the Board of Directors (the “Board”) of AlTi Global, Inc. (the “Company”) approved a plan to conduct an orderly wind‑down of its non‑core International Real Estate (“IRE”) business. The decision follows a comprehensive strategic review undertaken to evaluate all viable alternatives for the IRE business.

The Company anticipates that the wind-down will commence on or about July 11, 2025 and is expected to be substantially complete by December 2027.

At this time, the Company is unable in good faith to determine an estimate or range of estimates for each major cost and impairment charges that it expects to incur in connection with the wind‑down. The Company will file an amendment to this Current Report on Form 8‑K within four business days after it determines such estimates or ranges of estimates.

Item 2.06. Material Impairment.

The information set forth in Item 2.05 is incorporated by reference herein.

Forward‑Looking Statements

This Current Report on Form 8-K includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the Company’s plans to wind down the IRE business, the expected impacts and timing of such actions. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond the Company’s control. The Company’s actual results may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements include, but are not limited to, those factors, risks and uncertainties described above and in more detail under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K, filed with the SEC on March 17, 2025.

The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by applicable law.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
104	Cover Page Interactive Data File (embedded within the Inline XBRL Document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 11, 2025	ALTI GLOBAL, INC.
	/s/ Michael Tiedemann
	Name: Michael Tiedemann
	Title: Chief Executive Officer

FAQ

Why is AlTi Global (ALTI) winding down its International Real Estate business?

The Board concluded the segment is non-core after a strategic review and approved an orderly exit to refocus on core operations.

When will the wind-down of ALTI’s IRE business start and finish?

Start: On or about 11 July 2025. Completion: Targeted for December 2027.

Has AlTi Global disclosed the expected impairment or restructuring costs?

No. The company states it cannot yet estimate costs and will file an amended 8-K within four business days when estimates are available.

What SEC items does this event trigger?

The filing reports under Item 2.05 (exit costs) and Item 2.06 (material impairment).

Does the wind-down affect AlTi’s core wealth management operations?

The company indicates only the non-core IRE segment is impacted; core businesses remain unchanged.