AllianceBernstein Holding L.P. Q3 2025 Earnings Recap

AllianceBernstein Holding L.P. reported strong third-quarter results with firmwide assets under management (AUM) reaching $860 billion, while net flows remained positive at $1.7 billion, driven by robust demand for tax-exempt fixed income and private alternatives.

Key Takeaways

• Record AUM of $153 billion in Bernstein Private Wealth; firm AUM grew by $12 billion quarter-over-quarter.
• Positive net flows of $1.7 billion, excluding $4 billion related to the Equitable RGA reinsurance deal, marking 11 consecutive quarters of organic growth.
• Significant inflows into tax-exempt fixed income, generating over $4 billion, and nearly $3 billion into private markets, showcasing a diversified client demand.
• New strategic partnership with Fortitude aims to enhance the insurance asset management business and facilitate growth in Asia Pacific.
• Continued success in active management, with 86% of fixed-income AUM outperforming benchmarks over the past three years.