Galaxy Digital Holdings Ltd. (TSX: GLXY) (the "Company" or "GDH Ltd.") today released financial results for the three and twelve months ended December 31, 2023, for both itself and Galaxy Digital Holdings LP (the "Partnership" or "GDH LP"). In this press release, a reference to "Galaxy", "we", "our" and similar words refer to GDH Ltd., its subsidiaries and affiliates including GDH LP, or any one of them, as the context requires.
Galaxy Digital Holdings Ltd. (TSX: GLXY) ("Galaxy") announced that its affiliate, Galaxy Asset Management, ("GAM"), reported preliminary assets under management of $10.1 billion as of February 29, 2024. The 24.8% increase in preliminary AUM compared to the prior month was primarily driven by market appreciation, partially offset by net outflows associated with an ongoing opportunistic mandate.
Achieved significant milestones in 2023 including a record year for asset management revenue, completion of Ability’s $250 million reinsurance agreement resulting in total investments in excess of $1 billion, and the closing of the Ovation transaction during July 2023 Increased Ability’s total assets managed by Mount Logan to $537 million, up 59% versus 2022 while achieving a 9.2% yield on the insurance investment portfolio for fiscal 2023 Declared quarterly distribution of C$0.02 per common sha