• Ownership-adjusted AUM up 3% to $27.1 billion
• Revenue and other income up 28% to $92.3 million
• Adjusted EBITDA up 16% to $41.1 million

Navigator Global Investments (NGI) has reported strong financial results for the first half of fiscal year 2025. Ownership-adjusted assets under management (AUM) grew 3% to $27.1 billion, driven by strong investment performance and new fund initiatives. Revenue and other income increased 28% to $92.3 million, with robust growth in both management and performance fees. Adjusted EBITDA rose 16% to $41.1 million, reflecting the strong top-line performance, partially offset by higher employee expenses, particularly performance-based bonuses. The company's Lighthouse segment was the key driver of H1 FY25 earnings, while the NGI Strategic portfolio is expected to contribute more in the second half of the year due to the variable nature of distributions. NGI continues to execute on its growth strategy, with the addition of new partner firms in the private credit and real estate sectors, further diversifying its alternative asset management platform.

Subject to market conditions, and noting the timing of revenue receipts can be variable, NGI expects that FY25 Adjusted EBITDA will be higher than FY24.

NGI expects continued strong performance and increased investor interest in its alpha-generating strategies, as well as growth from new products and institutional mandates across its Lighthouse and NGI Strategic segments.