Regal Partners Limited (ASX:RPL) has announced a significant increase in its funds under management (FUM) for the September 2025 quarter. Regal Partners is an ASX-listed, specialist alternatives investment manager with over $20.0 billion in funds under management as at 30 September 2025. The company reported FUM rose to $20.0 billion, marking a 13.1% increase from the $17.7 billion reported at the end of June 2025. Total FUM and commitments reached $21.2 billion, reflecting a 12.0% rise over the quarter.
The surge in FUM was attributed to a combination of net client inflows and positive investment performance across a diverse range of investment strategies. Net FUM inflows for the quarter totalled approximately $0.7 billion. Notable contributions came from the PM Capital Global Companies Fund and Regal Tactical Opportunities strategy, along with substantial inflows into the Regal Resources Royalties Fund, Taurus Mining Finance Fund II, Merricks Capital co-investments, and the newly established Ark Capital Partners Hotel Opportunities Fund.
Investment performance contributed nearly $1.8 billion to FUM growth, representing a 9.9% increase. This reflected positive returns across hedge funds and multi-strategy asset strategies. The company noted that $13.7 billion of performance fee-eligible FUM, or 85% of the total, is at or within 5% of its high-water mark as of September 30, 2025.
Regal Partners also provided an update on performance fees for the second half of 2025. The company noted that crystallised and uncrystallised performance fee revenue accumulated up to 30 September 2025 is materially above current broker consensus forecasts of between $22 million and $52 million. Approximately $5 million of the total comprises crystallised performance fees. The company cautioned that uncrystallised performance fees remain at risk and are subject to change based on fund and mandate investment performance throughout the remainder of the period.
