In an ASX listing on Monday, the fund manager said its normalized net profit after tax (NPAT) reached $59 million in the six months to June 30, up 349% on the previous corresponding period.

The result was driven by increased revenue, with revenue rising 212 percent to $148.5 million, as well as the inclusion of the results of PM Capital and Taurus, which were acquired on Dec. 20 and Nov. 4, respectively.

Funds under management totaled $12.3 billion as of June 30, up 11% from December 31, 2023. and 112% from the same time last year.

The alternative investment manager said first-half net inflows totaled $745 million amid increased interest from institutional allocators seeking uncorrelated alternative strategies across a range of asset classes, along with $1.2 billion of growth through investment performance .

Additionally, FUM increased by $4.3 billion in July 2024. following the acquisition of 100 percent of Merricks Capital and 40 percent of Argyle Group, which brought pro forma FUM to $16.5 billion—a 50 percent increase from Dec. 31.

Commenting on the results, Regal Partners CEO and Managing Director Brendan O'Connor said: "Regal Partners continues to establish itself as a leading provider of alternative investment solutions in Australia and Asia, with the business further expanding its investment capabilities and client reach in recent months with the acquisition of fixed asset lending specialist Merricks Capital and a minority stake in water leasing business Argyle Group”.

“Together, on a pro forma basis, the business now manages over $16.5 billion in FUM, supported by a growing number of institutional investors, family offices and private equity investors across Australia and offshore. Our balance sheet remains extremely strong, with $197 million of net cash, cash receivables and investments and following our interim dividend, the business remains well positioned to deliver on our long-term growth ambitions.

"We continue to remain focused first and foremost on delivering superior performance to our investors across our growing range of leading alternative investment strategies and delivering great shareholder results."

Regal Partners announced a fully franked dividend of 8 cents per share, up 60% on pcp, reflecting strong organic cash generation, significant excess capital and excess franked credit.