FAUM

AcronymDefinition
FAUMFaculty of Architecture at the University of Manitoba (Canada)
FAUMFind And Update Missile
Copyright 1988-2018 AcronymFinder.com, All rights reserved.
References in periodicals archive ?
The Stable Outlook reflects Fitch's expectations that management will continue to generate relatively stable management fees on core products, grow/retain FAUM through the raising of new funds and expansion of existing funds, sustain operating margins, reduce leverage to the 'BBB' category benchmark range over the medium term, and appropriately manage its liquidity profile to meet debt service requirements, and co-investment commitments to funds.
Positive rating momentum could result from leverage approaching or below 4.0x, continued FAUM growth, increased revenue diversity, increased funding flexibility through access to unsecured debt and/or more diversified funding sources, and maintenance of solid liquidity levels.
Declines in investment performance, a key-man event, and/or legislative risk that negatively impact the company's ability to raise FAUM and generate fees, and/or impairment of the liquidity profile could result in negative rating action.
Negative rating action for KKR could be driven by declines in investment performance which negatively impact the company's ability to raise FAUM and generate fees, sustained meaningful increases in cash flow or balance sheet leverage particularly in relation to Fitch's financial benchmarks for 'A'-rated peers (above 2.5x on a cash flow basis and above 0.35x on a balance sheet basis), a failure to generate additional FEBITDA and interest income, or balance sheet asset impairment, and/or a material reduction of the firm's liquidity profile.
In addition, an upgrade would be contingent upon Apollo's ability execute on its strategy to grow FAUM and FEBITDA via core fund offerings, Athene in the U.S.
FAUM growth slowed modestly for Fitch-rated investment managers in 2017, as fund realizations outpaced capital deployment.
Additionally, a ratings upgrade would be contingent upon Apollo's ability to execute on its strategy to grow FAUM and FEBITDA via core fund offerings, Athene in the U.S.
The Outlook also reflects the agency's belief that Oaktree will grow/retain FAUM through the raising of new and expansion of existing fund strategies and retain a solid liquidity profile in order to fund operations and meet co-investment commitments to the funds.
Fitch expects leverage levels to generally decline to the benchmark range over time, as FEBITDA growth is driven by cost controls, increased scale, continued fundraising, and the gradual deployment of FAUM that earns fees on invested capital.
Fitch expects leverage levels to generally decline to the benchmark range over time as FEBITDA growth is driven by cost controls, increased scale, continued fundraising, and the gradual deployment of FAUM that earns fees on invested capital.
The ratings affirmation reflects Carlyle's position as a leading global alternative IM, its experienced management team, strong corporate culture, institutional investor base, large base of FAUM, a lower payout ratio relative to peers, and the subordination of general partner (GP) interests to outstanding indebtedness.
In addition, Fortress had $35.5 billion of FAUM in its traditional asset management business, Logan Circle, which Fortress sold to MetLife Inc.