AlTi Global, Inc. (NASDAQ: ALTI)

AlTi Global, Inc. is a global wealth and investment partner to families, foundations, and institutions, helping clients activate capital with clarity, bring structure to complexity, and plan with purpose across borders and generations. The company combines the breadth of a global firm with the service offering of a family office to deliver solutions that meet the full complexity of wealth and capital. As of December 31, 2025, AlTi manages or advises approximately $93.1 billion in combined assets and employs about 490 professionals across 19 cities in 9 countries on 3 continents. Its core services include discretionary investment management, non discretionary investment advisory, estate and wealth planning, trust and fiduciary services, governance and education, philanthropy and purposeful giving, and family office administration. AlTi also provides clients with access to alternative investment opportunities and operates an alternatives platform that comprises an internally managed fund and equity stakes in three externally managed funds.

AlTi generates revenue primarily through four categories: recurring management or advisory fees, performance or incentive fees, distributions from investments, and other income or fees. Management fees are calculated as a percentage of assets under management or assets under advisement and are charged quarterly in arrears. Incentive fees are earned when investment performance exceeds agreed benchmarks or hurdle rates and typically range from 15% to 20% of net profits for the internal fund and up to 35% for certain external managers. Distributions from investments represent the company’s share of management and incentive fees earned by the external strategic managers in which it holds equity interests. Other income consists mainly of transaction-based commissions earned upon the completion of specific deals.

The company operates through the following segments:

• Wealth & Capital Solutions: This segment provides wealth management and investment advisory services, trust services, family office services, and access to alternative investments through its alternatives platform, which includes the internally managed TIG Arbitrage fund and equity stakes in the Romspen real estate bridge lending strategy, the Zebedee European equities strategy, and the Arkkan Asian credit and special situations strategy. Revenue is derived from management fees, incentive fees, and distributions from these alternative investments.

AlTi operates in a highly fragmented wealth management industry that features intense competition from regional and national independent multi-family offices, banks, trust companies, and consulting firms. Key competitors in the United States include entities such as Bessemer Trust, UBS, Northern Trust, JP Morgan, Goldman Sachs, BBR, Brown Advisors, SCS, Jordan Park, Cresset, and Mercer Advisors. Internationally, the company competes with local multi-family offices and consultants like We Family Offices, Cambridge Associates, and ARC, as well with global banks such as UBS, Goldman Sachs, Pictet, and JPMorgan. AlTi differentiates itself through its global footprint, a recurring revenue base supported by a 96% client retention rate since 2021, comprehensive platform offerings for ultra high net worth families, and targeted expertise in alternative investments and impact investing. Strategic partnerships with Allianz and Constellation further enhance its capital base, distribution network, and ability to source unique investment opportunities.

The company’s customer base consists of ultra high net worth individuals, families, single-family offices, foundations, and endowments worldwide for its wealth management services, while its alternatives platform primarily serves institutional investors. AlTi does not disclose specific client names in the filing, but it notes that its wealth management clients typically have $25 million or more of investable assets and that its institutional clients include pension funds, endowments, and other large-scale investors seeking access to private-market strategies and impact-focused offerings.