Associated Capital Reports Preliminary First Quarter Book Value of $36.70 to $36.90 Per Share
April 09 2020 - 4:01PM
Business Wire
Associated Capital Group, Inc. (“AC” or the “Company”),
announced today a range of its first quarter preliminary book value
of $36.70 to $36.90 per share, driven largely by changes in
mark-to-market values. This compares to $39.93 per share at
December 31, 2019 and $39.38 at March 31, 2019.
Assets under management were $1.51 billion at March 31, 2020 as
compared to $1.59 billion at March 31, 2019.
Associated Capital will be issuing further details on its
financial results in early May.
About Associated Capital Group, Inc.
Associated Capital, 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 three core
pillars: Gabelli Private Equity Partners, LLC (“GPEP”), formed in
August 2017 with $150 million of authorized capital as a
“fund-less” sponsor; the SPAC business (Gabelli special purpose
acquisition vehicles), launched in April 2018; 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/20200409005752/en/
Douglas R. Jamieson President & CEO (203) 629-2726
Associated-Capital-Group.com
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