In an ASX listing on Monday, the fund manager said its normalised net profit after tax (NPAT) came in at $59 million in the six months to 30 June, up 349 per cent from the prior corresponding period.
The result was driven by increased revenues, with revenues climbing 212 per cent to $148.5 million, as well as the inclusion of PM Capital and Taurus results, which were acquired on 20 December and 4 November, respectively.
Funds under management stood at $12.3 billion on 30 June, up 11 per cent since 31 December 2023, and 112 per cent since the same time last year.
The alternative investment manager said net inflows in the first half stood at $745 million on the back of heightened interest from institutional allocators seeking uncorrelated alternative strategies across a range of asset classes, alongside $1.2 billion of growth via investment performance.
Furthermore, FUM increased by $4.3 billion in July 2024 following the acquisition of 100 per cent of Merricks Capital and 40 per cent of Argyle Group, bringing pro forma FUM to $16.5 billion – an increase of 50 per cent since 31 December.
Commenting on the results, Regal Partners chief executive officer and managing director Brendan O’Connor said: “Regal Partners continues to establish itself as a leading provider of alternative investment solutions in Australia and Asia, with the business further broadening its investment capabilities and client reach in recent months with the acquisition of hard asset lending specialist Merricks Capital and a minority interest in water leasing business Argyle Group”.
“Together, on a pro forma basis, the business now manages over $16.5 billion in FUM, supported by a growing number of institutional investors, family offices and private investors across Australia and offshore. Our balance sheet remains exceptionally strong, with $197 million of net cash, cash receivables, and investments and after our interim dividend, with the business remaining well positioned to deliver on our long-term growth ambitions.
“We continue to remain focused, above all else, on delivering superior performance to our investors across our growing range of leading alternative investment strategies and delivering great outcomes for shareholders.”
Regal Partners declared a fully franked dividend of 8 cents per share announced, up 60 per cent on pcp, reflecting strong organic cash generation, substantial surplus capital, and excess franking credits.
