From GlobeNewswire: 2024-07-09 07:00:00

Beneficient (NASDAQ: BENF) reported financial results for fiscal year 2024, highlighting new liquidity and primary capital products. Operating expenses increased, but adjusted expenses remained steady. The company plans to expand the GP Solutions program in fiscal 2025. In the fourth quarter of 2024, investments totaled $329.1 million, with a diverse collateral portfolio. Ben Liquidity grew its GP Preferred Liquidity Provider Program to 20 funds and $1.5 billion in committed capital. Operating expenses for the quarter were $151.9 million, including non-cash impairments. The GP Solutions program saw $2 million in liquidity financings in Q4. Ben announced the launch of the ExchangeTrust Product Plan, aimed at facilitating fiduciary financings. The company is focused on expanding its capital base and delivering integrated fiduciary products and services. Ben’s ExAlt Loan portfolio is diversified across various asset classes, industry sectors, and geographies, providing balance sheet growth. The loan portfolio is supported by over 250 private market funds and approximately 850 investments. Ben Liquidity offers rapid liquidity products through Customer ExAlt Trusts, generating $10.6 million in interest income in the fourth quarter of fiscal 2024. Operating loss for the quarter was $29.4 million.



Read more at GlobeNewswire:: Beneficient Reports Results for Fourth Quarter & Fiscal