AllianceBernstein sees alts AUM tick up to $143bn

AllianceBernstein saw assets under management (AUM) from its alternative and multi-asset portfolio tick up to $143bn (£112bn) by the end of May.

This was up from  $140bn on 30 April 2024, and consisted of $112bn from institutions, $7bn from retail channels and $24bn from private wealth, according to the asset manager’s latest update.

Overall, the firm’s preliminary AUM increased to $757bn during May 2024, from $736bn at the end of April.

The three per cent overall increase was attributed to market appreciation and firm-wide net inflows. Net inflows in retail and institutions were partially offset by slight net outflows in private wealth.

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At the end of May, the firm’s total AUM consisted of $320bn from institutions, $309bn from retail and the remaining $128bn from private wealth.

AllianceBernstein, which has historically been known for its US equities business, has been making a push into private markets of late.

In February, the firm revealed that growth of its private markets’ platform helped boost its AUM and revenue in the previous year. Its private markets platform saw its AUM grow by nine per cent in 2023, to reach $61bn, representing 8.4 per cent of the company’s overall business.

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