Associated Capital Reports Estimated Fourth Quarter and Full Year Results
January 18 2023 - 7:35AM
Business Wire
Associated Capital Group, Inc. (“AC” or the “Company”) announced
today a preliminary estimate of its financial results for the
fourth quarter and year ended December 31, 2022.
As of December 31, 2022, AC’s book value is estimated to be
within the range of $40.37 and $40.57 per share, compared to $39.96
per share at September 30, 2022 and $42.48 at December 31,
2021.
Assets under management were $1.84 billion at December 31, 2022
as compared to $1.78 billion at December 31, 2021.
AC will be issuing further details on its financial results in
February.
About Associated Capital Group, Inc. Associated Capital
Group, Inc., based in Greenwich, Connecticut, is a diversified
global financial services company that provides alternative
investment management through Gabelli & Company Investment
Advisers, Inc. (“GCIA” f/k/a Gabelli Securities, Inc.). We have
also earmarked proprietary capital for our direct investment
business that invests in new and existing businesses. The direct
investment business is developing along several core pillars:
Gabelli Private Equity Partners, LLC (“GPEP”), formed in August
2017 with $150 million of authorized capital as a “fund-less”
sponsor, and Gabelli Principal Strategies Group, LLC (“GPS”),
created to pursue strategic operating initiatives.
SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION Our
disclosure and analysis in this press release contain
“forward-looking statements”. Forward-looking statements convey our
current expectations or forecasts of future events. You can
identify these statements because they do not relate strictly to
historical or current facts. They use words such as “anticipate,”
“estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and
other words and terms of similar meaning. They also appear in any
discussion of future operating or financial performance. In
particular, these include statements relating to future actions,
future performance of our products, expenses, the outcome of any
legal proceedings, and financial results. Although we believe that
we are basing our expectations and beliefs on reasonable
assumptions within the bounds of what we currently know about our
business and operations, the economy and other conditions, there
can be no assurance that our actual results will not differ
materially from what we expect or believe. Therefore, you should
proceed with caution in relying on any of these forward-looking
statements. They are neither statements of historical fact nor
guarantees or assurances of future performance.
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version on businesswire.com: https://www.businesswire.com/news/home/20230117006132/en/
Douglas R. Jamieson Chief Executive Officer (203) 629-9595
Associated-Capital-Group.com
Associated Capital (NYSE:AC)
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