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Jun 30, 2020
Silvercrest Q2 2020 Earnings Report
Reported good results driven by organic growth and supportive equity markets.
Key Takeaways
Silvercrest reported positive results for Q2 2020, with revenue of $24.0 million and adjusted EBITDA of $6.7 million. Total assets under management increased by 16% to $23.8 billion, driven by net organic inflows of $200 million in discretionary assets. The company continues to focus on organic growth and opportunistic capital deployment.
Total assets under management reached $23.8 billion, a 16% increase from the previous quarter.
Discretionary assets under management grew by $200 million due to organic inflows.
Revenue remained flat at $24.0 million compared to the same quarter last year.
Adjusted EBITDA was $6.7 million, showing a slight increase year-over-year.
Forward Guidance
Silvercrest will continue to opportunistically seek to effectively deploy capital to enhance and complement its organic growth, especially during an uncertain environment that is likely to experience continued market volatility. Silvercrest has successfully made investments to organically grow the business—and will continue to make investments—with its cash flow and reserves.
Positive Outlook
- Continue attracting net positive asset flows from new high net worth families.
- Continue attracting net positive asset flows from institutional asset management.
- Continue attracting net positive asset flows from Outsourced Chief Investment Officer (OCIO) businesses.
- Institutional asset management pipeline also is rebuilding after the initial shock and economic shutdown due to the coronavirus.
- New business pipeline is recovering, and we expect the institutional business to improve as society makes further progress toward re-opening.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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