AllianceBernstein Hits Record $867B AUM, Private Wealth at $156B
AllianceBernstein surpassed $867 billion in AUM by end-2025, led by its Private Wealth division’s $156 billion and a 65% organic surge in its active ETF suite to $14 billion. Despite record AUM, the firm saw $9.4 billion of active net outflows and Q4 adjusted earnings per unit fell 9% to $0.96.
1. Record AUM Growth
AllianceBernstein ended 2025 with a record $867 billion in assets under management, boosted by market appreciation and strong segment performance. This marks the highest AUM level in the firm’s history, reflecting growing investor demand for diversified strategies.
2. Segment Performance
The Bernstein Private Wealth business reached $156 billion in AUM, contributing 37% of firmwide revenues. The private markets platform grew 18% to $82 billion, while the active ETF suite posted a 65% organic increase to $14 billion.
3. Net Outflows and Earnings Impact
Despite asset growth, AllianceBernstein recorded $9.4 billion in total active net outflows, driven by $22.5 billion in active equities redemptions and weaker taxable fixed-income demand. Q4 adjusted earnings per unit declined 9% year-over-year to $0.96, and full-year performance fees fell 24% to $172 million.
4. Outlook and Targets
Management plans to expand private credit and international ETF franchises to surpass its 2027 private markets AUM target of $90–100 billion. The firm also aims to maintain an adjusted operating margin, which reached 33.7% in 2025, through scalable high-growth platforms.