AlTi Global, Inc. (NASDAQ:ALTI) Q1 2023 Earnings Conference Call May 22, 2023 5:00 PM ET

Company Participants

Lily Arteaga - Head of Investor Relations

Michael Tiedemann - Chief Executive Officer

Kevin Moran - Chief Operating Officer

Christine Zhao - Chief Financial Officer

Conference Call Participants

Wilma Burdis - Raymond James

Operator

Good afternoon. My name is Shamaley, and I will be your conference operator today. At this time, I would like to welcome everyone to AlTi’s First quarter 2023 Earnings Conference Call. During the call, your lines will remain in a listen-only mode. After the speaker's remarks, there will be a question-and-answer session.

I would like to advise all parties that this conference call is being recorded and a replay of the webcast is available on AlTi’s Investor Relations website.

I will now turn the call over to Lily Arteaga, Head of Investor Relations for AlTi.

Lily Arteaga

Good afternoon to everyone on the call today. Joining me this afternoon are Michael Tiedemann, our CEO; Kevin Moran, our COO; and Christine Zhao, our CFO. Please visit the Investor Relations section of our website at www.Alti-global.com to view our earnings materials, including our updated investor presentation, which provides more details on the topics discussed on this call.

I would also like to remind everyone that certain statements made during the call are not based on historical facts, including any statements relating to financial guidance and may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Because these forward-looking statements involve known and unknown risks and uncertainties. There are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. AlTi assumes no obligation or responsibility to update any forward-looking statements.

During this call, some comments may include references to non-GAAP financial measures. Full GAAP reconciliations can be found in our investor presentation and related SEC filings.

With that, I'd like to turn the call over to Mike.

Michael Tiedemann

Thank you, Lily. Good afternoon, everyone, and thank you for joining us today for our first quarter 2023 earnings call. The first quarter of 2023 was transformational for AlTi. We entered the public markets through the completion of our business combination on January 3 and in parallel, we strengthened our balance sheet with a $250 million credit facility. For a brief summary of our Q1 performance on a consolidated basis AlTi generated revenues of $58 million, adjusted EBITDA of $11 million and ended the first quarter with $67 billion in assets under management and advisement.