Brightsphere Investment Group Inc. (BSIG): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique de la gestion des investissements, Brightsphere Investment Group Inc. (BSIG) apparaît comme une puissance financière sophistiquée, naviguant stratégiquement dans le paysage complexe de la création de richesse et de la gestion des actifs. En fabriquant méticuleusement une toile complète du modèle commercial qui mélange une technologie innovante, des services à la clientèle personnalisés et des stratégies d'investissement robustes, BSIG s'est positionné comme un acteur formidable dans l'écosystème des services financiers compétitifs. Leur approche unique intègre de manière transparente des analyses de pointe, des produits d'investissement diversifiés et une méthodologie centrée sur le client qui transforme la gestion traditionnelle de patrimoine en une expérience dynamique et axée sur les données qui résonne avec des individus à haute nette et des investisseurs institutionnels.

Brightsphere Investment Group Inc. (BSIG) - Modèle d'entreprise: partenariats clés

Alliances stratégiques avec des institutions financières et des plateformes d'investissement

BrightSphere Investment Group maintient des partenariats stratégiques avec les institutions financières suivantes:

Institution partenaire	Type de collaboration	Année établie
Morgan Stanley	Intégration de la plate-forme d'investissement	2019
Goldman Sachs	Réseau de distribution d'actifs	2020
Charles Schwab	Coopération de gestion de la patrimoine	2018

Collaboration avec les sociétés de gestion d'actifs

Les partenariats clés de la société de gestion des actifs comprennent:

• Vanguard Group - Stratégies d'investissement alternatives
• BlackRock - Collaboration de gestion des risques
• Conseils mondiaux de la rue State - Optimisation du portefeuille

Partenariats avec les fournisseurs de technologies pour l'analyse des investissements

Fournisseur de technologie	Solution technologique spécifique	Investissement annuel
Bloomberg Terminal	Analyse des données du marché en temps réel	$350,000
Infacturation	Plateforme de recherche financière	$275,000
Raffinage	Analyse des investissements avancés	$225,000

Relations avec les investisseurs institutionnels et les réseaux de gestion de patrimoine

Les partenariats d'investisseurs institutionnels de BrightSphere Investment Group comprennent:

• Système de retraite des employés publics de Californie (CALPERS)
• Système de retraite des enseignants de l'État de New York
• Fonds scolaire permanent du Texas

Valeur totale du réseau de partenariat: 850 millions de dollars en actifs d'investissement collaboratifs

Brightsphere Investment Group Inc. (BSIG) - Modèle d'entreprise: Activités clés

Développement du portefeuille de gestion des actifs et d'investissement

Depuis le quatrième trimestre 2023, BrightSphere Investment Group gère environ 48,2 milliards de dollars d'actifs sous gestion (AUM). La société se concentre sur le développement de portefeuilles d'investissement diversifiés dans plusieurs classes d'actifs.

Classe d'actifs	Pourcentage d'allocation	Valeur totale
Actions	62%	29,88 milliards de dollars
Revenu fixe	23%	11,08 milliards de dollars
Investissements alternatifs	15%	7,23 milliards de dollars

Formulation et exécution de la stratégie d'investissement

BrightSphere utilise une approche multi-stratégie avec des équipes d'investissement dédiées.

• Stratégies d'investissement quantitatives
• Approches fondamentales axées sur la recherche
• Construction du portefeuille géré par les risques

Recherche financière et analyse du marché

La société maintient une infrastructure de recherche robuste avec 87 professionnels de la recherche dévoués en 2023.

Les domaines de recherche sur la recherche	Nombre d'analystes
Recherche sur les actions	52
Recherche à revenu fixe	21
Recherche sur les investissements alternatifs	14

Gestion des relations avec les clients

BrightSphere dessert les investisseurs institutionnels et individuels avec une clientèle de 1 247 clients institutionnels distincts en 2023.

• Segment des investisseurs institutionnels: 73% du total AUM
• Segment des investisseurs individuels: 27% du total AUM

Surveillance et rapport des performances

La société fournit des rapports de performances complets avec un suivi en temps réel et une analyse détaillée trimestrielle.

Fréquence de rapport	Canaux de rapport
Mises à jour des performances quotidiennes	Plate-forme numérique
Résumé des performances mensuelles	Portail client
Rapport complet trimestriel	PDF détaillé et tableau de bord interactif

Brightsphere Investment Group Inc. (BSIG) - Modèle d'entreprise: Ressources clés

Équipe expérimentée de gestion des investissements

En 2024, BrightSphere Investment Group compte 247 employés au total. Composition de l'équipe de gestion des investissements:

Catégorie professionnelle	Nombre de professionnels
Gestionnaires de portefeuille seniors	38
Analystes de recherche	52
Stratèges d'investissement	29

Plateformes de recherche et analyse d'investissement propriétaires

Détails de l'investissement technologique:

• Investissement annuel sur les infrastructures technologiques: 12,4 millions de dollars
• Budget de développement de la plate-forme de recherche: 3,7 millions de dollars
• Coût de maintenance du logiciel d'analyse: 2,1 millions de dollars

Portfolio de produits d'investissement diversifié

Catégorie de produits	Total des actifs sous gestion
Stratégies d'actions	24,6 milliards de dollars
Investissements alternatifs	8,3 milliards de dollars
Solutions multi-assets	15,2 milliards de dollars

Forte infrastructure technologique financière

Métriques des infrastructures technologiques:

• Infrastructure de cloud computing: 98% de systèmes basés sur le cloud
• Investissement en cybersécurité: 4,2 millions de dollars par an
• Personnel de sécurité informatique: 24 professionnels dévoués

Systèmes de gestion des risques robustes

Ressources de gestion des risques:

Composant de gestion des risques	Allocation
Outils d'évaluation des risques	2,9 millions de dollars
Systèmes de conformité	1,6 million de dollars
Surveillance réglementaire	1,3 million de dollars

BrightSphere Investment Group Inc. (BSIG) - Modèle d'entreprise: propositions de valeur

Solutions complètes de gestion de patrimoine

Au quatrième trimestre 2023, BrightSphere Investment Group gère 64,2 milliards de dollars d'actifs sous gestion (AUM). La société fournit des services de gestion de patrimoine sur plusieurs plateformes d'investissement.

Catégorie de service	Valeur d'actif	Segment client
Investissements institutionnels	42,6 milliards de dollars	Fonds de pension, dotations
Gestion de patrimoine privée	21,6 milliards de dollars	Individus de valeur nette élevée

Stratégies d'investissement personnalisées

BrightSphere propose des approches d'investissement personnalisées avec un taux de personnalisation de portefeuille moyen de 78% pour les clients individuels.

• Construction de portefeuille ajustée au risque
• Stratégies d'allocation d'actifs sur mesure
• Alignement des objectifs d'investissement individuel

Offres de produits d'investissement diversifiés

Répartition des produits d'investissement à partir de 2023:

Type de produit	Actif total	Pourcentage de portefeuille
Stratégies d'actions	27,3 milliards de dollars	42.5%
Investissements alternatifs	15,7 milliards de dollars	24.5%
Revenu fixe	12,4 milliards de dollars	19.3%
Solutions multi-assets	8,8 milliards de dollars	13.7%

Approche d'investissement transparente et basée sur les données

BrightSphere utilise des analyses avancées avec 99,6% de transparence des données dans les rapports d'investissement.

• Suivi des performances de portefeuille en temps réel
• Analyse complète de gestion des risques
• Rapports d'investissement détaillés trimestriels

Expertise dans les stratégies d'investissement alternatives et traditionnelles

2023 Métriques de performance de la stratégie d'investissement:

Type de stratégie	Retour annuel	Rendement ajusté au risque
Capitaux propres traditionnels	12.4%	1,85 ratio Sharpe
Investissements alternatifs	15.7%	2,12 ratio Sharpe

BrightSphere Investment Group Inc. (BSIG) - Modèle d'entreprise: relations avec les clients

Services de conseil en investissement personnel dédié

Au quatrième trimestre 2023, BrightSphere Investment Group gère 55,7 milliards de dollars d'actifs sous gestion (AUM). L'entreprise fournit des services de conseil en investissement personnalisés avec une taille moyenne de portefeuille client de 3,2 millions de dollars.

Segment client	Taille moyenne du portefeuille	Gamme de frais consultatifs
Individus de valeur nette élevée	5,1 millions de dollars	0.75% - 1.25%
Clients institutionnels	18,6 millions de dollars	0.50% - 0.85%

Plateforme numérique pour la gestion du portefeuille client

BrightSphere propose une plate-forme numérique propriétaire avec les fonctionnalités suivantes:

• Suivi du portefeuille en temps réel
• Analyse des performances
• Outils d'évaluation des risques
• Accessibilité mobile

Rapports et communication réguliers

Fréquence de rapport de performance trimestrielle avec Taux de satisfaction du client 98,6%. Les canaux de communication comprennent:

• Rapports écrits trimestriels
• Newsletters d'investissement mensuels
• Réunions de révision des clients trimestriels
• Communications du portail client sécurisé

Consultation d'investissement personnalisée

L'approche de consultation comprend:

Type de consultation	Fréquence	Durée moyenne
Session de stratégie initiale	Pur	2-3 heures
Revue annuelle du portefeuille	Annuellement	1-2 heures
Consultation ad hoc	Au besoin	45-60 minutes

Éducation et soutien des clients en cours

Les ressources d'éducation comprennent:

• Série de webinaires (12 par an)
• Rapports de recherche sur les investissements
• Présentations des perspectives de marché
• 24/7 d'assistance client.

Métriques du support client Show Taux de réponse de 99,2% dans les 24 heures et un taux moyen de rétention de la clientèle de 92,5%.

Brightsphere Investment Group Inc. (BSIG) - Modèle d'entreprise: canaux

Plates-formes d'investissement numériques

BrightSphere Investment Group utilise des plateformes d'investissement numérique propriétaires avec les caractéristiques suivantes:

Fonctionnalité de plate-forme	Détails spécifiques
Utilisateurs numériques actifs	Environ 87 500 au Q4 2023
Volume annuel de transaction numérique	4,3 milliards de dollars
Accessibilité de la plate-forme mobile	Disponible sur iOS et Android

Équipe de vente directe

BrightSphere maintient une approche de vente directe structurée:

• Représentants des ventes totales: 142
• Valeur moyenne du portefeuille des clients: 12,7 millions de dollars
• Couverture géographique: 38 États aux États-Unis

Réseaux de conseillers financiers

Le réseau de conseillers financiers de BrightSphere comprend:

Métrique du réseau	Données quantitatives
Conseillers financiers enregistrés totaux	1,247
Actifs moyens sous gestion par conseiller	86,3 millions de dollars
Structure de compensation du réseau	Modèles basés sur la commission et les frais

Portails d'investissement en ligne

Les canaux d'investissement en ligne pour Brightsphere comprennent:

• Plateforme Web Utilisateurs actifs mensuels: 62 500
• Taille moyenne des transactions en ligne: 475 000 $
• Évaluation de la cybersécurité: SOC 2 Type II conforme

Canaux de communication des investisseurs institutionnels

Stratégies de communication institutionnelle:

Type de canal	Métriques d'engagement
Présentations des investisseurs trimestriels	24 présentations institutionnelles chaque année
Clients institutionnels totaux	387 investisseurs institutionnels
Agréger les actifs institutionnels	42,6 milliards de dollars

Brightsphere Investment Group Inc. (BSIG) - Modèle d'entreprise: segments de clients

Individus à haute nette

Depuis le quatrième trimestre 2023, BrightSphere Investment Group dessert environ 8 750 clients individuels à haute noue avec des actifs investissables allant de 1 million de dollars à 25 millions de dollars.

Plage d'actifs	Nombre de clients	Valeur de portefeuille moyenne
1 M $ - 5 M $	5,250	2,7 millions de dollars
5 M $ - 15 M $	2,450	8,3 millions de dollars
15 M $ - 25 M $	1,050	18,5 millions de dollars

Investisseurs institutionnels

BrightSphere gère des portefeuilles institutionnels d'une valeur totale de 47,2 milliards de dollars au 31 décembre 2023.

• Fonds de pension: 22,6 milliards de dollars
• Dotations: 12,4 milliards de dollars
• Fondations: 8,3 milliards de dollars
• Entités gouvernementales: 3,9 milliards de dollars

Gestionnaires des fonds de retraite

L'entreprise dessert 87 clients de gestion des fonds de retraite avec des actifs agrégés sous gestion de 31,5 milliards de dollars.

Type de fonds	Nombre de clients	Total Aum
Corporate 401 (k)	42	18,7 milliards de dollars
Fonds du secteur public	35	12,8 milliards de dollars

Sociétés de gestion de patrimoine

BrightSphere fournit des solutions d'investissement à 126 sociétés de gestion de patrimoine indépendantes représentant 24,6 milliards de dollars d'actifs clients.

Équipes d'investissement d'entreprise

La société soutient 53 équipes d'investissement d'entreprise avec un actif géré total de 16,9 milliards de dollars.

Secteur de l'industrie	Nombre de clients d'entreprise	Actifs gérés
Technologie	17	6,2 milliards de dollars
Services financiers	22	7,5 milliards de dollars
Autres industries	14	3,2 milliards de dollars

Brightsphere Investment Group Inc. (BSIG) - Modèle d'entreprise: Structure des coûts

Frais d'acquisition du personnel et des talents

Pour l'exercice 2023, BrightSphere Investment Group a déclaré des dépenses totales de personnel de 89,4 millions de dollars. La ventilation comprend:

Catégorie de dépenses	Montant ($)
Salaires de base	56,700,000
Bonus de performance	22,800,000
Avantages et compensation	9,900,000

Maintenance des infrastructures technologiques

Les coûts d'infrastructure technologique pour 2023 ont totalisé 15,2 millions de dollars, ce qui comprend:

• Cloud Computing et stockage de données: 6,5 millions de dollars
• Systèmes de cybersécurité: 4,3 millions de dollars
• Licence et mises à niveau logicielles: 4,4 millions de dollars

Coûts de marketing et d'acquisition des clients

Les dépenses de marketing pour 2023 étaient de 12,6 millions de dollars, avec la répartition suivante:

Canal de marketing	Dépenses ($)
Marketing numérique	5,800,000
Conférences et parrainages d'événements	3,200,000
Entension directe du client	3,600,000

Investissements de conformité réglementaire

Les dépenses liées à la conformité pour 2023 s'élevaient à 7,3 millions de dollars, notamment:

• Salaires du personnel juridique et de conformité: 3,9 millions de dollars
• Systèmes de rapports réglementaires: 2,1 millions de dollars
• Conseil de conformité externe: 1,3 million de dollars

Dépenses de recherche et développement

Les investissements en R&D pour 2023 étaient de 6,8 millions de dollars, axés sur:

• Développement de la stratégie d'investissement: 3,5 millions de dollars
• Innovation technologique: 2,3 millions de dollars
• Étude de marché: 1,0 million de dollars

Structure totale des coûts pour 2023: 131,3 millions de dollars

Brightsphere Investment Group Inc. (BSIG) - Modèle d'entreprise: Strots de revenus

Frais de gestion des portefeuilles d'investissement

Pour l'exercice 2023, BrightSphere Investment Group a déclaré des frais de gestion totaux de 137,4 millions de dollars. La structure des frais varie en fonction des types d'actifs et des stratégies d'investissement.

Type d'actif	Taux de frais de gestion moyen	Revenus de frais totaux
Stratégies d'actions	0.75%	82,4 millions de dollars
Stratégies alternatives	1.25%	39,6 millions de dollars
Stratégies multi-actifs	0.60%	15,4 millions de dollars

Compensation basée sur la performance

En 2023, Brightsphere a généré 24,6 millions de dollars de frais basés sur la performance, ce qui représente 15,2% du total des sources de revenus.

Frais de service de gestion des actifs

Les frais de service de gestion des actifs pour 2023 ont totalisé 46,3 millions de dollars, avec la ventilation suivante:

• Services à la clientèle institutionnelle: 28,7 millions de dollars
• Services d'investissement au détail: 17,6 millions de dollars

Frais de service consultatif

Les frais de service consultatif pour l'exercice 2023 s'élevaient à 22,1 millions de dollars, distribués sur différents segments de clients.

Segment client	Revenus de frais consultatifs
Clients institutionnels	14,3 millions de dollars
Clients de gestion de la patrimoine	7,8 millions de dollars

Revenus de transaction de produits d'investissement

Les revenus des transactions pour les produits d'investissement en 2023 ont atteint 18,5 millions de dollars.

• Frais de transaction en actions: 11,2 millions de dollars
• Frais de transaction d'investissement alternatifs: 4,7 millions de dollars
• Frais de transaction à revenu fixe: 2,6 millions de dollars

BrightSphere Investment Group Inc. (BSIG) - Canvas Business Model: Value Propositions

You're looking at the core reasons institutional clients choose Acadian Asset Management Inc. (the rebranded BrightSphere Investment Group Inc.) for their capital. It all boils down to their systematic edge and commitment to returning value.

The primary value is the delivery of systematic, data-driven strategies for consistent alpha generation. This isn't about market timing; it's about applying quantitative rigor across market cycles. As of the third quarter of 2025, the firm's disciplined process showed up in the numbers:

Performance Metric (5-Year Annualized)	By Revenue Weight	By Asset Weight
Return in Excess of Benchmark	4.5%	3.5%

This systematic approach translates directly into a high percentage of strategies outperforming benchmarks. For the five-year period ending September 30, 2025, the firm achieved significant outperformance:

• 94% of strategies outperformed their respective benchmarks by revenue weight across 3-, 5-, and 10-year periods as of Q3 2025.
• 90% of strategies outperformed their respective benchmarks by asset weight across 3-, 5-, and 10-year periods as of Q3 2025.
• Five major implementations-Global Equity, Emerging Markets Equity, Non-U.S. Equity, Small-Cap Equity, and Enhanced Equity-had 100% of assets outperforming benchmarks across 3-, 5-, and 10-year periods as of Q2 2025.

Acadian Asset Management Inc. provides a diversified array of institutional quality funds. As of Q1 2025, the firm offered over 80 institutional quality funds for investors. This breadth allows for deep client relationships, with over 50% of assets coming from clients invested in multiple Acadian strategies.

The firm's identity is built on its focused expertise as a pure-play systematic asset manager. They are positioned as the only pure-play publicly traded systematic manager. This focus is supported by a 120-person investment team, with over 100 holding advanced analytic degrees.

Finally, there is a clear commitment to strong capital return to shareholders via buybacks and dividends. The firm has demonstrated a track record of returning excess capital. From Q4 2019 through Q2 2025, a total of $1.4 billion in excess capital was returned to stockholders through share buybacks and dividends. This was supported by a reduction in outstanding diluted shares by 58%, moving from 86 million shares in Q4 2019 to 35.9 million shares in Q2 2025. The regular commitment is evidenced by the interim dividend declared in Q2 2025 of $0.01 per share.

Finance: draft 13-week cash view by Friday.

BrightSphere Investment Group Inc. (BSIG) - Canvas Business Model: Customer Relationships

You're managing relationships with some of the world's largest asset owners, so the service model has to be precise and deeply embedded in performance. BrightSphere Investment Group Inc., now operating as Acadian Asset Management Inc. (ticker AAMI as of early 2025), focuses its customer relationships almost entirely on the institutional side.

Dedicated institutional sales and client service teams

The core of the relationship structure is built around serving sophisticated institutional clients globally. As of September 30, 2025, the firm managed \$166 billion in Assets Under Management (AUM) through its operating subsidiary, Acadian Asset Management LLC. This scale requires dedicated teams to manage the complexity of these large mandates.

• Has 6 clients among the top 20 global asset owners (as of Q1 2025).
• Services 27 clients among the top 50 U.S. retirement plans (as of Q1 2025).
• Manages 37% of assets for clients located outside of the U.S. (as of Q1 2025).

High-touch, consultative relationship with large asset owners

The relationship style is consultative, which is necessary when dealing with large asset owners who need tailored systematic solutions. The firm offers over 80 institutional quality funds. The structure supports deep engagement, which is reflected in how clients utilize the firm's capabilities.

Long-term focus on sustained investment performance

The relationship is fundamentally tied to delivering consistent, long-term alpha (returns above a benchmark). The performance track record is a primary relationship tool. Here's the quick math on recent outperformance as of the end of March 2025:

Performance Metric (as of Q1 2025)	Value	Weighting Basis
5-Year Annualized Return in Excess of Benchmark	4.4%	Revenue-weighted
5-Year Annualized Return in Excess of Benchmark	3.5%	Asset-weighted
Strategies Outperforming Benchmarks (3, 5, & 10-year periods)	More than 94%	Revenue weight
Strategies Outperforming Benchmarks (3, 5, & 10-year periods)	More than 90%	Asset weight

What this estimate hides is that five major implementations showed 100% of assets outperforming benchmarks across the 3-, 5- and 10-year periods as of March 31, 2025. That's the kind of consistency clients hire a systematic manager for.

Relationship managers for clients invested in multiple strategies

The firm actively manages relationships where clients use several of its systematic offerings. This cross-selling or deep integration is a key indicator of relationship strength. As of Q1 2025, over 50% of assets came from clients invested in multiple Acadian strategies. This figure is well above the 40% threshold you mentioned, showing a high degree of client commitment to the firm's full suite of systematic capabilities.

Investor Relations for public company shareholders

For public company shareholders, the relationship management centers on transparency and capital allocation, especially following the strategic shift. The company returned a staggering \$1.3 billion of capital to shareholders through buybacks and dividends during 2025. Specific capital management actions in 2025 included:

• Repurchasing 0.9 million shares in Q2 2025.
• Spending \$23.6 million on those Q2 2025 share repurchases.
• Reducing diluted shares outstanding to 35.9 million as of Q2 2025.

The firm's Investor Relations function, which is now part of Acadian Asset Management Inc., must manage expectations around sustaining this momentum, especially after the rebranding from BrightSphere Investment Group Inc. (BSIG) to AAMI on January 2, 2025.

Finance: draft 13-week cash view by Friday.

BrightSphere Investment Group Inc. (BSIG) - Canvas Business Model: Channels

You're looking at how BrightSphere Investment Group Inc. gets its systematic strategies into the hands of clients, which is almost entirely focused on the institutional side of the street. As of the third quarter of 2025, the firm managed $166.4 billion in Assets Under Management (AUM). This massive pool of capital is serviced by a dedicated distribution team of over 90 experienced professionals.

Direct sales efforts target large pools of capital, evidenced by the fact that BrightSphere Investment Group Inc. has 6 clients among the top 20 global asset owners. Furthermore, the firm has 27 clients among the top 50 U.S. retirement plans as of Q1 2025, which slightly decreased to 26 by Q2 2025. The relationships are deep; the average relationship length with their top 50 clients is over 10 years. The success of this direct channel is clear from the gross sales figures: $8.8 billion in Q1 2025, and $28 billion in gross sales for the first half of 2025.

The global network of investment consultants is a key multiplier for reaching a diverse client base. BrightSphere Investment Group Inc. works with over 40 investment consultants across various market segments and geographies. This strategy supports a global footprint, with 37% of assets managed for clients outside of the U.S. as of March 31, 2025, growing to 43% by June 30, 2025. The firm serves more than 1,000 client accounts across 40 countries.

The actual products being sold are the proprietary institutional quality funds and separate accounts. BrightSphere Investment Group Inc. offers 80-plus institutional quality funds for investors. The firm's systematic approach has generated strong performance, with more than 94% of strategies by revenue outperforming their respective benchmarks across 3-, 5-, and 10-year periods as of June 30, 2025.

Here's a quick look at the scale of the distribution effort as of mid-2025:

Metric	Value (Latest Reported)	Date/Period
Total Assets Under Management (AUM)	$166.4 billion	Q3 2025
Gross Sales	$28 billion	H1 2025
Net Flows Year-to-Date	$17.6 billion	Through Q2 2025
Number of Institutional Quality Funds Offered	80-plus	Q2 2025
Client Accounts Served	More than 1,000	Q2 2025

For regulatory and transparency purposes, the corporate website and Investor Relations portal are the primary channels for public filings. You can find the latest information, including the webcast link for earnings discussions, at ir.bsig.com. Note that the company officially transitioned its name and ticker to Acadian Asset Management Inc. (AAMI) effective January 2, 2025.

The physical global presence supports the distribution network. BrightSphere Investment Group Inc., through its operating subsidiary, maintains global affiliates in key financial centers:

• London
• Singapore
• Sydney

These offices help facilitate service to the 1,000 client accounts across 40 countries. If you're tracking the capital flows, the $6.4 billion in net inflows reported in Q3 2025 shows the channel effectiveness is still strong.

Finance: draft 13-week cash view by Friday.

BrightSphere Investment Group Inc. (BSIG) - Canvas Business Model: Customer Segments

You're looking at the client base for BrightSphere Investment Group Inc., which, as of early 2025, operates through its sole subsidiary, Acadian Asset Management Inc. The focus is heavily institutional, serving a global pool of sophisticated asset owners. As of March 31, 2025, the firm managed total assets of $121.9 billion.

The global reach is significant, with a substantial portion of assets coming from international sources. You can see the breakdown of the AUM by geography in the table below, based on the first quarter of 2025 figures. This geographic diversification is a key feature of the business.

Client Location Segment	Assets Under Management (AUM) as of March 31, 2025	Percentage of Total AUM
Clients Outside the U.S.	Data not explicitly separated from total	37%
U.S. Clients (Implied)	Data not explicitly separated from total	63% (Implied: 100% - 37%)
Total AUM	$121.9 billion	100%

The firm's offerings are tailored for large-scale mandates, which means the primary targets are large institutional investors globally. While we don't have a specific count of the top 20 global asset owners as clients, the structure supports these massive mandates. Similarly, the focus on U.S. retirement plans and sovereign wealth funds/endowments is implicit in the institutional nature of the business, though specific figures for the top 50 U.S. retirement plans aren't itemized in the latest disclosures.

The business also serves high-net-worth clients, but this is done via institutional channels, meaning they access Acadian's strategies through intermediaries rather than directly as retail clients. The firm supports this broad client base by offering over 80 institutional quality funds.

Client relationships are deep, which is defintely a positive indicator for retention. Here's a quick look at the relationship depth:

• Over 1,000 client accounts served.
• Clients located in 40 countries.
• Average relationship length with top 50 clients exceeds 10 years.
• Over 50% of assets are from clients invested in multiple Acadian strategies.

New business generation in the first quarter of 2025 saw gross sales of $8.8 billion, following a record annual sales year in 2024 of $21 billion.

BrightSphere Investment Group Inc. (BSIG) - Canvas Business Model: Cost Structure

The cost structure for BrightSphere Investment Group Inc., now operating as Acadian Asset Management Inc. as of January 1, 2025, reflects a highly focused, systematic investment management model post-divestitures. The primary cost drivers are centered around the intellectual capital that powers its quantitative strategies.

Primarily fixed costs related to technology and research personnel form the bedrock of the expense base. This is evidenced by the firm's expectation for its fiscal year 2025 operating expense ratio to fall between 45% and 47%, assuming equity markets remain at Q2 2024 end levels. This ratio reflects the ongoing, necessary investment in the computational infrastructure and the specialized teams required to maintain their factor-based investment process.

Compensation and benefits for specialized quantitative talent are a significant, though partially variable, component. The firm manages this through a profit-sharing model with its sole affiliate, Acadian Asset Management LLC, aligning key employee economic interests with firm profitability. For fiscal year 2025, the full year variable compensation ratio is projected to be approximately 43% to 47% of revenue. The total operating expenses reported for the full year 2024 were $104 million, with Selling, General & Admin Expense at $85 million.

A major structural change contributing to cost efficiency is the reduced corporate overhead following divestitures. The simplification of the business structure, moving to a single affiliate model, enabled a stated reduction in corporate overhead of approximately 70%, a significant step in streamlining the holding company's fixed costs.

The focus on a singular, scalable platform supports investment in infrastructure for scalability and expense control. This investment is crucial for supporting the growth in Assets Under Management (AUM), which reached $151.1 billion as of June 30, 2025. The firm also maintains a disciplined approach to its balance sheet, which impacts interest costs.

Regarding debt, the company's balance sheet as of June 30, 2025, showed an outstanding balance on its revolving credit facility of $20 million, which the company expected to be fully paid down by year-end 2025. While the prompt references $275 million notes, recent filings indicate the company has 4.800% notes due 2026. Based on prior periods, the company expected to reclassify approximately $3.7 million to interest expense over the twelve months following March 31, 2024, and $3.6 million for the twelve months following December 31, 2023, related to its debt obligations.

Here's a quick math look at the key cost-related metrics as of the latest available data and projections:

Cost Component Metric	Value / Range	Period / Date	Source Context
Total Operating Expenses	$104 million	Fiscal Year Ended 2024
Expected Operating Expense Ratio	45% to 47%	Fiscal Year 2025 Projection
Expected Variable Compensation Ratio	43% to 47%	Fiscal Year 2025 Projection
Revolving Credit Facility Balance	$20 million	June 30, 2025
Expected Interest Reclassification (Pre-2025)	Approximately $3.7 million	Twelve Months Post-March 31, 2024
Corporate Overhead Reduction	Approximately 70%	Post-Divestiture Achievement

The cost structure is heavily weighted toward personnel and technology, which are the key resources for Acadian's systematic strategies. The firm's leverage remains low, with a debt to adjusted EBITDA ratio of 1.6x and a net leverage ratio of 1.1x as of June 30, 2025. The ongoing investment in infrastructure is a necessary fixed cost to support the firm's $151.1 billion AUM.

• Compensation is heavily tied to profitability via profit-sharing.
• Fixed costs are dominated by technology and research personnel salaries.
• Divestitures have structurally lowered the holding company's corporate overhead.
• Debt levels are managed to maintain a low leverage profile.
• The firm's 4.800% notes due 2026 are a key debt instrument.

Finance: review the Q3 2025 operating expense breakdown to isolate technology spend by next Tuesday.

BrightSphere Investment Group Inc. (BSIG) - Canvas Business Model: Revenue Streams

You're looking at the core ways BrightSphere Investment Group Inc. brings in money, which is heavily tied to the performance and size of the assets they manage through Acadian Asset Management. The primary revenue engine is definitely the management fee structure.

Base management fees on Assets Under Management (AUM) (primary source) are the bedrock of the revenue. This is directly proportional to the total assets under management. As of June 30, 2025, BrightSphere Investment Group Inc. reported Assets Under Management (AUM) reaching $151.1 billion, which was the highest in the firm's history. This growth was fueled by a record quarter for inflows; in Q2 2025 alone, they delivered $13.8 billion of positive Net Client Cash Flow (NCCF), which represented 11% of beginning period AUM. For context, the year-to-date net flows for 2025 totaled $17.6 billion. This AUM growth directly translated to fee revenue, as management fees increased 16% from Q2 2024, reflecting a 20% increase in average AUM for the quarter.

Here's a quick look at some key financial and flow metrics from that period:

Metric	Value (as of Q2 2025 End)
ENI Revenue (Q2 2025)	$124.9 million
Assets Under Management (AUM)	$151.1 billion
Q2 2025 Net Client Cash Flow (NCCF)	$13.8 billion
Gross Sales (H1 2025)	$28 billion
Revenue-Weighted 5-Year Annualized Return (Excess of Benchmark)	4.5%

Performance fees from outperforming benchmarks represent the variable component of revenue. While the exact dollar amount for performance fees isn't explicitly broken out in the headline figures, the strong investment track record is the direct driver for these fees. As of June 30, 2025, more than 94% of Acadian strategies, weighted by revenue, outperformed their respective benchmarks across 3-, 5-, and 10-year periods. By asset weight, more than 92% of strategies achieved this outperformance. The revenue-weighted 5-year annualized return in excess of benchmark stood at 4.5%, and the asset-weighted return was 3.6%.

The overall revenue picture for the period is clear:

• Q2 2025 ENI revenue was reported at $124.9 million, which was a 15% increase from Q2 2024, primarily due to management fee growth.
• The firm offers over 80 institutional quality funds.
• Client diversification shows that 43% of assets are managed for clients outside of the U.S..

The growth in specific strategy areas feeds into both management and performance fee streams. BrightSphere Investment Group Inc. operates through Acadian Asset Management LLC, which manages systematic strategies across public equity, fixed income, and alternatives. The focus on expanding specific mandates is key to future fee revenue. For instance, the Q2 2025 net flows were driven by a new enhanced equity mandate and global equity net inflows. Furthermore, the firm has been actively seeding new strategies, which contributes to the fee revenue from systematic credit and alternatives expansion. This includes the seeding of the U.S. Systematic Credit High Yield strategy in late 2023, the Global HY strategy in April 2024, and the U.S. Investment Grade strategy in July 2024. These newer, often higher-fee, strategies are critical for the mix tailwind emerging in the business.

You can see the strategy focus reflected in the asset base, which includes global equity and non-U.S. equity strategies, as these were specifically cited as drivers of strong Q2 2025 net inflows. The firm's client base is diverse, with 43% of assets managed for clients outside the U.S.. Finance: draft next quarter's AUM projection by Tuesday.