AI-assembled from public SEC filings
Asset managers and investment advisers peer review
Descriptive comparison assembled from public SEC filings and verified companyfacts.
Descriptive comparison — not investment advice. This feature-specific review is assembled from a frozen evidence pack of public SEC filing quotes and verified SEC companyfacts numbers. It is descriptive only and makes no judgment about which company is better. It is not a rating, recommendation, endorsement, forecast, or investment advice. Figures are as of their cited filing dates. See Disclaimer.
Governing statutes (not legal advice)
Descriptive law cross-reference — not legal advice. grepcent publishes a curated industry-to-statute association only. This is not legal advice. It does not interpret statutes, assess company conduct, or mirror statute text. Deep links go to neochart.
Statutes grepcent curates as governing this industry, deep-linked to neochart's official text. Case-citation counts are shown as an importance signal, not the selection criterion. Not legal advice. Citing cases are shown as a case-citation in-degree importance signal, not an endorsement.
- 15 U.S.C. § 80b-3: §80b–3. Registration of investment advisers
- 15 U.S.C. § 80b-6: §80b–6. Prohibited transactions by investment advisers
- 15 U.S.C. § 80a-8: §80a–8. Registration of investment companies
Methodology
Mechanical asset-manager cluster: the top 10 existing grepcent companies by latest reported revenue from SEC SIC 6282 Investment Advice, requiring latest revenue and net income facts.
The cluster is selected mechanically from public SEC SIC 6282 companies already present in grepcent's processed universe, sorted by latest reported revenue. The SIC pool includes traditional managers, alternative managers, and advisory businesses; comparisons are descriptive across that disclosed mix. The review publishes no proprietary index-membership labels.
Verified Quantitative Matrix
Numbers are templated from frozen SEC companyfacts-derived facts already verified by grepcent. Fiscal periods and filing dates are shown in each cell; comparability markers use day-level period ends and reported XBRL source concepts.
| Metric | APO | KKR | AMP | BX | BEN | TROW | IVZ | CG | ARES | TPG |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Mixed reporting concepts: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues. Ticker concepts: AMP -> us-gaap:Revenues; APO -> us-gaap:Revenues; ARES -> us-gaap:Revenues; BEN -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; BX -> us-gaap:Revenues; CG -> us-gaap:Revenues; IVZ -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; KKR -> us-gaap:Revenues; TPG -> us-gaap:Revenues; TROW -> us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. | 32,049,000,000 source · NUM_APO_REVENUE_FY2025 | 19,464,307,000 source · NUM_KKR_REVENUE_FY2025 | 18,911,000,000 source · NUM_AMP_REVENUE_FY2025 | 14,450,265,000 source · NUM_BX_REVENUE_FY2025 | 8,770,700,000 source · NUM_BEN_REVENUE_FY2025 Day-level period offset: about 3 months before row reference (-92d) vs row reference 2025-12-31; offset. | 7,314,800,000 source · NUM_TROW_REVENUE_FY2025 | 6,377,100,000 source · NUM_IVZ_REVENUE_FY2025 | 4,779,800,000 source · NUM_CG_REVENUE_FY2025 | 4,755,618,000 source · NUM_ARES_REVENUE_FY2025 | 4,670,212,000 source · NUM_TPG_REVENUE_FY2025 |
| Net margin Mixed reporting concepts: us-gaap:NetIncomeLoss, us-gaap:ProfitLoss, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues. Ticker concepts: AMP -> us-gaap:NetIncomeLoss + us-gaap:Revenues; APO -> us-gaap:NetIncomeLoss + us-gaap:Revenues; ARES -> us-gaap:NetIncomeLoss + us-gaap:Revenues; BEN -> us-gaap:NetIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; BX -> us-gaap:NetIncomeLoss + us-gaap:Revenues; CG -> us-gaap:NetIncomeLoss + us-gaap:Revenues; IVZ -> us-gaap:ProfitLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; KKR -> us-gaap:NetIncomeLoss + us-gaap:Revenues; TPG -> us-gaap:NetIncomeLoss + us-gaap:Revenues; TROW -> us-gaap:NetIncomeLoss + us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. | 10.90% source · NUM_APO_NET_MARGIN_FY2025 | 12.18% source · NUM_KKR_NET_MARGIN_FY2025 | 18.84% source · NUM_AMP_NET_MARGIN_FY2025 | 20.89% source · NUM_BX_NET_MARGIN_FY2025 | 5.98% source · NUM_BEN_NET_MARGIN_FY2025 Day-level period offset: about 3 months before row reference (-92d) vs row reference 2025-12-31; offset. | 28.53% source · NUM_TROW_NET_MARGIN_FY2025 | -2.74% source · NUM_IVZ_NET_MARGIN_FY2025 | 16.92% source · NUM_CG_NET_MARGIN_FY2025 | 11.09% source · NUM_ARES_NET_MARGIN_FY2025 | 3.95% source · NUM_TPG_NET_MARGIN_FY2025 |
| Operating margin | Quarantined: Only 3 of 10 companies have a verified fact; threshold is 4. | |||||||||
| Free cash flow Mixed reporting concepts: us-gaap:NetCashProvidedByUsedInOperatingActivities, us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Ticker concepts: AMP -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquireProductiveAssets; BEN -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; BX -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; CG -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; IVZ -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; TROW -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. | Not available. | Not available. | 8,161,000,000 source · NUM_AMP_FREE_CASH_FLOW_FY2025 | 4,547,458,000 source · NUM_BX_FREE_CASH_FLOW_FY2025 | 911,600,000 source · NUM_BEN_FREE_CASH_FLOW_FY2025 Day-level period offset: about 3 months before row reference (-92d) vs row reference 2025-12-31; offset. | 1,479,200,000 source · NUM_TROW_FREE_CASH_FLOW_FY2025 | 1,441,000,000 source · NUM_IVZ_FREE_CASH_FLOW_FY2025 | -3,374,900,000 source · NUM_CG_FREE_CASH_FLOW_FY2025 | Not available. | Not available. |
| Capital expenditures Mixed reporting concepts: us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Ticker concepts: AMP -> us-gaap:PaymentsToAcquireProductiveAssets; BEN -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; BX -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; CG -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; IVZ -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; TROW -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. | Not available. | Not available. | 162,000,000 source · NUM_AMP_CAPEX_FY2025 | 115,703,000 source · NUM_BX_CAPEX_FY2025 | 154,500,000 source · NUM_BEN_CAPEX_FY2025 Day-level period offset: about 3 months before row reference (-92d) vs row reference 2025-12-31; offset. | 274,200,000 source · NUM_TROW_CAPEX_FY2025 | 84,300,000 source · NUM_IVZ_CAPEX_FY2025 | 99,400,000 source · NUM_CG_CAPEX_FY2025 | Not available. | Not available. |
| Dividends paid Mixed reporting concepts: us-gaap:PaymentsOfDividends, us-gaap:PaymentsOfDividendsCommonStock. Ticker concepts: AMP -> us-gaap:PaymentsOfDividends; APO -> us-gaap:PaymentsOfDividendsCommonStock; BEN -> us-gaap:PaymentsOfDividendsCommonStock; BX -> us-gaap:PaymentsOfDividendsCommonStock; CG -> us-gaap:PaymentsOfDividendsCommonStock; IVZ -> us-gaap:PaymentsOfDividendsCommonStock; KKR -> us-gaap:PaymentsOfDividendsCommonStock; TROW -> us-gaap:PaymentsOfDividends. | 1,201,000,000 source · NUM_APO_DIVIDENDS_PAID_FY2025 | 649,942,000 source · NUM_KKR_DIVIDENDS_PAID_FY2025 | 596,000,000 source · NUM_AMP_DIVIDENDS_PAID_FY2025 | 6,013,385,000 source · NUM_BX_DIVIDENDS_PAID_FY2025 | 683,700,000 source · NUM_BEN_DIVIDENDS_PAID_FY2025 Day-level period offset: about 3 months before row reference (-92d) vs row reference 2025-12-31; offset. | 1,143,000,000 source · NUM_TROW_DIVIDENDS_PAID_FY2025 | 377,300,000 source · NUM_IVZ_DIVIDENDS_PAID_FY2025 | 505,100,000 source · NUM_CG_DIVIDENDS_PAID_FY2025 | Not available. | Not available. |
| Share buybacks | 773,000,000 source · NUM_APO_SHARE_BUYBACKS_FY2025 | 3,362,000 source · NUM_KKR_SHARE_BUYBACKS_FY2025 | 2,907,000,000 source · NUM_AMP_SHARE_BUYBACKS_FY2025 | Not available. | 240,300,000 source · NUM_BEN_SHARE_BUYBACKS_FY2025 Day-level period offset: about 3 months before row reference (-92d) vs row reference 2025-12-31; offset. | 620,900,000 source · NUM_TROW_SHARE_BUYBACKS_FY2025 | 123,600,000 source · NUM_IVZ_SHARE_BUYBACKS_FY2025 | 686,500,000 source · NUM_CG_SHARE_BUYBACKS_FY2025 | Not available. | Not available. |
| Assets | 460,949,000,000 source · NUM_APO_ASSETS_FY2025 | 410,144,072,000 source · NUM_KKR_ASSETS_FY2025 | 190,904,000,000 source · NUM_AMP_ASSETS_FY2025 | 47,708,975,000 source · NUM_BX_ASSETS_FY2025 | 32,368,300,000 source · NUM_BEN_ASSETS_FY2025 Day-level period offset: about 3 months before row reference (-92d) vs row reference 2025-12-31; offset. | 14,341,800,000 source · NUM_TROW_ASSETS_FY2025 | 27,094,000,000 source · NUM_IVZ_ASSETS_FY2025 | 29,116,000,000 source · NUM_CG_ASSETS_FY2025 | 28,633,369,000 source · NUM_ARES_ASSETS_FY2025 | 13,492,935,000 source · NUM_TPG_ASSETS_FY2025 |
| Liabilities / equity Mixed reporting concepts: us-gaap:Liabilities, us-gaap:StockholdersEquity, us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest. Ticker concepts: AMP -> us-gaap:Liabilities + us-gaap:StockholdersEquity; APO -> us-gaap:Liabilities + us-gaap:StockholdersEquity; ARES -> us-gaap:Liabilities + us-gaap:StockholdersEquity; BEN -> us-gaap:Liabilities + us-gaap:StockholdersEquity; BX -> us-gaap:Liabilities + us-gaap:StockholdersEquity; CG -> us-gaap:Liabilities + us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest; IVZ -> us-gaap:Liabilities + us-gaap:StockholdersEquity; KKR -> us-gaap:Liabilities + us-gaap:StockholdersEquity; TPG -> us-gaap:Liabilities + us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest; TROW -> us-gaap:Liabilities + us-gaap:StockholdersEquity. | 17.93 source · NUM_APO_LIABILITIES_TO_EQUITY_FY2025 | 10.63 source · NUM_KKR_LIABILITIES_TO_EQUITY_FY2025 | 28.15 source · NUM_AMP_LIABILITIES_TO_EQUITY_FY2025 | 2.98 source · NUM_BX_LIABILITIES_TO_EQUITY_FY2025 | 1.51 source · NUM_BEN_LIABILITIES_TO_EQUITY_FY2025 Day-level period offset: about 3 months before row reference (-92d) vs row reference 2025-12-31; offset. | 0.21 source · NUM_TROW_LIABILITIES_TO_EQUITY_FY2025 | 1.15 source · NUM_IVZ_LIABILITIES_TO_EQUITY_FY2025 | 3.13 source · NUM_CG_LIABILITIES_TO_EQUITY_FY2025 | 4.66 source · NUM_ARES_LIABILITIES_TO_EQUITY_FY2025 | 2.26 source · NUM_TPG_LIABILITIES_TO_EQUITY_FY2025 |
Code-computed comparisons
- Reported net margin range: range endpoints are IVZ (-2.74%) and TROW (28.53%).
- Latest reported revenue range: range endpoints are TPG (4,670,212,000) and APO (32,049,000,000).
Market-risk companion: risk and factor comparison from lmfin. It is descriptive and separate from the SEC fundamentals review.
Narrative Matrix
| Dimension | APO | KKR | AMP | BX | BEN | TROW | IVZ | CG | ARES | TPG |
|---|---|---|---|---|---|---|---|---|---|---|
| Business model | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. |
| Geographic and customer exposure | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. |
| Capital allocation | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. |
| Stated strategy in filings | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. |
| Idiosyncratic risks in filings | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. |
| Recent narrative change | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. |
Gate summary
Quarantined quantitative rows
- operating_margin: Only 3 of 10 companies have a verified fact; threshold is 4.
Quarantined dimensions
- business_model: No verified cells survived the gate.
- geographic_customer_exposure: No verified cells survived the gate.
- capital_allocation: No verified cells survived the gate.
- stated_strategy: No verified cells survived the gate.
- idiosyncratic_risks: No verified cells survived the gate.
- recent_narrative_change: No verified cells survived the gate.
Quarantined cells
- APO / business_model: No direct dimension-relevant quote survived the evidence gate.
- KKR / business_model: No direct dimension-relevant quote survived the evidence gate.
- AMP / business_model: No direct dimension-relevant quote survived the evidence gate.
- BX / business_model: No direct dimension-relevant quote survived the evidence gate.
- BEN / business_model: No direct dimension-relevant quote survived the evidence gate.
- TROW / business_model: No direct dimension-relevant quote survived the evidence gate.
- IVZ / business_model: No direct dimension-relevant quote survived the evidence gate.
- CG / business_model: No direct dimension-relevant quote survived the evidence gate.
- ARES / business_model: No direct dimension-relevant quote survived the evidence gate.
- TPG / business_model: No direct dimension-relevant quote survived the evidence gate.
- APO / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- KKR / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- AMP / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- BX / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- BEN / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- TROW / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- IVZ / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- CG / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- ARES / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- TPG / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- APO / capital_allocation: No direct dimension-relevant quote survived the evidence gate.
- KKR / capital_allocation: No direct dimension-relevant quote survived the evidence gate.
- AMP / capital_allocation: No direct dimension-relevant quote survived the evidence gate.
- BX / capital_allocation: No direct dimension-relevant quote survived the evidence gate.