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Intangible Assets, net (Tables) | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Finite-Lived Intangible Assets | The following table provides a reconciliation of Intangible assets, net reported on the Consolidated Statement of Financial Position.
| As of December 31, 2024
(Dollars in Thousands) | Weighted Average Amortization Period (in years) |  | Gross Carrying Amount (2) |  | Impairment |  |  |  |  |  | Accumulated Amortization |  | Net Carrying Amount
Intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |
Amortizing intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships | 22.3 |  | $ | 277,117 |  |  | $ | — |  |  |  |  |  |  | $ | (18,999) |  |  | $ | 258,118 |
Investment management agreements | 0.0 |  | 2,351 |  |  | (2,104) |  |  |  |  |  |  | (247) |  |  | — |
Trade names | 9.4 |  | 12,198 |  |  | (110) |  |  |  |  |  |  | (2,498) |  |  | 9,590 |
Acquired internally developed software | 5.0 |  | 1,300 |  |  | — |  |  |  |  |  |  | (445) |  |  | 855 |
Other intangible asset | 0.0 |  | 622 |  |  | — |  |  |  |  |  |  | (622) |  |  | — |
Total amortized intangible assets |  |  | 293,588 |  |  | (2,214) |  |  |  |  |  |  | (22,811) |  |  | 268,563 |
Non-amortized intangible assets (1) |  |  |  |  |  |  |  |  |  |  |  |  |
Investment management agreements (3) |  |  | 245,900 |  |  | (44,900) |  |  |  |  |  |  | — |  |  | 201,000 |
Total intangible assets |  |  | $ | 539,488 |  |  | $ | (47,114) |  |  |  |  |  |  | $ | (22,811) |  |  | $ | 469,563 |
(1) The Company’s non-amortized intangible assets consist of management contracts for open-ended fund products, in which there is no contractual termination date. (2) As of December 31, 2024, gross carrying amounts related to the Company’s intangible assets include additions to intangibles of $99.3 million related to the PW, EEA, and Envoi Acquisitions, a transfer of $4.6 million to Goodwill related to measurement period adjustments for the EEA Acquisition and a transfer of $1.0 million from Goodwill related to measurement period adjustments for the Envoi Acquisition (see Note 3 Business Combinations and Divestitures), as well as foreign currency translation differences of $(1.3) million. (3) During the third quarter ended December 31, 2024, the Company commenced a strategic review of its Real Estate Businesses and conducted a realignment of its operating segments. Prior to the realignment, the Company conducted a goodwill impairment test to determine whether the fair value of its reporting units declined to an amount lower than the carrying value of goodwill. As part of the test, we utilized the discounted cash flow method and determined the fair value of TIG’s Investment Management Agreement (the “IMA”) had declined. As such, the Company recognized intangible asset impairment charges of $44.9 million related to the IMA, which is classified as an indefinite-lived intangible asset and part of the Wealth & Capital Solutions segment. Drivers of the impairment for the IMA primarily include the financial projections and discount rate associated with the instrument. See Note 14 (Goodwill, net) for further details around the related impairment to goodwill as a result of our strategic realignment.
| As of December 31, 2023
(Dollars in Thousands) | Weighted Average Amortization Period (in years) |  | Gross Carrying Amount (3) |  | Impairment |  | Disposal |  | Held for Sale |  | Accumulated Amortization |  | Net Carrying Amount
Intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |
Amortizing intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships | 25.3 |  | $ | 186,832 |  |  | $ | — |  |  | $ | (254) |  |  | $ | (2,128) |  |  | $ | (7,180) |  |  | $ | 177,270 |
Investment management agreements (1) | 19.6 |  | 100,269 |  |  | (50,283) |  |  | — |  |  | (43,299) |  |  | (4,545) |  |  | 2,142 |
Trade names | 10 |  | 14,945 |  |  | (2,635) |  |  | — |  |  | (1,231) |  |  | (1,514) |  |  | 9,565 |
Acquired internally developed software | 5 |  | 1,000 |  |  | — |  |  | — |  |  | — |  |  | (200) |  |  | 800 |
Other intangible asset | 0 |  | 622 |  |  | — |  |  | — |  |  | — |  |  | (622) |  |  | — |
Total amortized intangible assets |  |  | 303,668 |  |  | (52,918) |  |  | (254) |  |  | (46,658) |  |  | (14,061) |  |  | 189,777 |
Non-amortized intangible assets (2) |  |  |  |  |  |  |  |  |  |  |  |  |
Investment management agreements |  |  | 245,900 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 245,900 |
Total intangible assets |  |  | $ | 549,568 |  |  | $ | (52,918) |  |  | $ | (254) |  |  | $ | (46,658) |  |  | $ | (14,061) |  |  | $ | 435,677 |
(1) During the year ended December 31, 2023, the Company deconsolidated AHRA (See Note 3 Business Combinations and Divestitures) and as a result, recorded an impairment charge of $29.4 million to the carrying value of AHRA’s investment advisory agreement with Home REIT, which is recorded in the line item Impairment loss on goodwill and intangible assets in the Consolidated Statement of Operations. On January 9, 2024, AlTi RE Public Markets Limited entered into heads of terms to sell 100% of the equity of LRA, the advisor to the publicly-traded fund LXi, to LondonMetric for fixed consideration of approximately $33.1 million and up to an estimated $5.1 million of contingent consideration based on the exchange rate as of the balance sheet date, as applicable. The contingent consideration meets the definition of a derivative and is recorded as Contingent consideration receivable on the Consolidated Statement of Financial Position as of December 31, 2024. This contingent consideration will be remeasured at fair value at each reporting date in accordance with ASC 820, Fair Value Measurement, with changes in fair value recognized in the Consolidated Statement of Operations in the period of change. The disposal completed on March 6, 2024. As a result, during the year ended December 31, 2023, AlTi recognized an intangible asset impairment charge of $23.5 million in Impairment loss on goodwill and intangible assets in the Consolidated Statement of Operations. In addition, as of December 31, 2023, the major classes of assets and liabilities of LRA were presented as held for sale in the Consolidated Statement of Financial Position. For the year ended December 31, 2024, a net loss of $(0.4) million gain was recorded in connection with the completion of this disposal, which was recognized in the line item Gain (loss) on investments in the Consolidated Statement of Operations. (2) The Company’s non-amortized intangible assets consist of management contracts for open-ended fund products, in which there is no contractual termination date. (3) Gross carrying amounts related to the Company’s intangible assets include foreign currency translation differences of $7.4 million as of December 31, 2023.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The estimated future amortization for finite-lived intangible assets for each of the next five years and thereafter are as follows:
(Dollars in Thousands) | As of December 31, 2024
2025 | $ | 15,300 |
2026 | 15,300 |
2027 | 15,300 |
2028 | 15,100 |
2029 and beyond | 207,563 |
Total | $ | 268,563 |

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