AllianceBernstein AB Q3 2026 earnings

“AllianceBernstein generated $6.6 billion of firmwide net inflows in 3Q26, our strongest quarterly flow result in 4 years, representing an annualized organic growth rate of approximately 3%. Activity was led by strong institutional demand across both liquid and illiquid credit. Alternatives/MAS generated $15 billion of net inflows, including the onboarding of roughly $12 billion of commercial mortgage loans we highlighted last quarter, marking our seventh consecutive quarter of organic growth for the asset class. While institutional appetite for private assets remained the primary growth driver, our alternatives/MAS franchise grew organically across all three channels, even excluding the CML mandate. Private markets AUM reached $105 billion, up 33% year-over-year and surpassing the upper end of our 2027 target range. Fixed income demand remained robust despite significant rates volatility, but varied by client profile. Continued market share gains in tax-exempt drove $1.6 billion of net inflows amid a turbulent municipal market, while taxable fixed income was modestly positive at $0.3 billion, as strong institutional inflows more than offset retail redemptions. In equities, demand favored passive strategies, which attracted $2.5 billion of net inflows from institutional and private wealth clients, while active equity outflows of roughly $13 billion continued to weigh on flows. Compared to prior year, adjusted net revenues grew 2.2%, adjusted operating income was stable, and adjusted earnings per Unit and distributions to Unitholders rose 2.3% to $0.88.”