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.

Methodology

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.

Pack hash: db6d12a0d9cda9c6a5546b14fb1218deb5313d3ababd394cd7268794c1adb02f. Generated: 2026-07-21.

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; code-computed comparisons below only use calendar-aligned periods.

Metric	APO	KKR	AMP	BX	BEN	TROW	IVZ	CG	ARES	TPG
Revenue	32,049,000,000 FY 2025; period end 2025-12-31; filed 2026-02-25; reporting currency USD source · NUM_APO_REVENUE_FY2025	19,464,307,000 FY 2025; period end 2025-12-31; filed 2026-02-27; reporting currency USD source · NUM_KKR_REVENUE_FY2025	18,911,000,000 FY 2025; period end 2025-12-31; filed 2026-03-12; reporting currency USD source · NUM_AMP_REVENUE_FY2025	14,450,265,000 FY 2025; period end 2025-12-31; filed 2026-02-27; reporting currency USD source · NUM_BX_REVENUE_FY2025	8,770,700,000 FY 2025; period end 2025-09-30; filed 2025-11-10; reporting currency USD source · NUM_BEN_REVENUE_FY2025 Non-aligned period: 2025-Q3; row majority 2025-Q4.	7,314,800,000 FY 2025; period end 2025-12-31; filed 2026-02-13; reporting currency USD source · NUM_TROW_REVENUE_FY2025	6,377,100,000 FY 2025; period end 2025-12-31; filed 2026-02-24; reporting currency USD source · NUM_IVZ_REVENUE_FY2025	4,779,800,000 FY 2025; period end 2025-12-31; filed 2026-02-27; reporting currency USD source · NUM_CG_REVENUE_FY2025	4,755,618,000 FY 2025; period end 2025-12-31; filed 2026-02-25; reporting currency USD source · NUM_ARES_REVENUE_FY2025	4,670,212,000 FY 2025; period end 2025-12-31; filed 2026-02-17; reporting currency USD source · NUM_TPG_REVENUE_FY2025
Net margin	10.90% FY 2025; period end 2025-12-31; filed 2026-02-25 source · NUM_APO_NET_MARGIN_FY2025	12.18% FY 2025; period end 2025-12-31; filed 2026-02-27 source · NUM_KKR_NET_MARGIN_FY2025	18.84% FY 2025; period end 2025-12-31; filed 2026-03-12 source · NUM_AMP_NET_MARGIN_FY2025	20.89% FY 2025; period end 2025-12-31; filed 2026-02-27 source · NUM_BX_NET_MARGIN_FY2025	5.98% FY 2025; period end 2025-09-30; filed 2025-11-10 source · NUM_BEN_NET_MARGIN_FY2025 Non-aligned period: 2025-Q3; row majority 2025-Q4.	28.53% FY 2025; period end 2025-12-31; filed 2026-02-13 source · NUM_TROW_NET_MARGIN_FY2025	-2.74% FY 2025; period end 2025-12-31; filed 2026-02-24 source · NUM_IVZ_NET_MARGIN_FY2025	16.92% FY 2025; period end 2025-12-31; filed 2026-02-27 source · NUM_CG_NET_MARGIN_FY2025	11.09% FY 2025; period end 2025-12-31; filed 2026-02-25 source · NUM_ARES_NET_MARGIN_FY2025	3.95% FY 2025; period end 2025-12-31; filed 2026-02-17 source · NUM_TPG_NET_MARGIN_FY2025
Operating margin	Quarantined: Only 3 of 10 companies have a verified fact; threshold is 4.
Free cash flow	Not available.	Not available.	8,161,000,000 FY 2025; period end 2025-12-31; filed 2026-03-12; reporting currency USD source · NUM_AMP_FREE_CASH_FLOW_FY2025	4,547,458,000 FY 2025; period end 2025-12-31; filed 2026-02-27; reporting currency USD source · NUM_BX_FREE_CASH_FLOW_FY2025	911,600,000 FY 2025; period end 2025-09-30; filed 2025-11-10; reporting currency USD source · NUM_BEN_FREE_CASH_FLOW_FY2025 Non-aligned period: 2025-Q3; row majority 2025-Q4.	1,479,200,000 FY 2025; period end 2025-12-31; filed 2026-02-13; reporting currency USD source · NUM_TROW_FREE_CASH_FLOW_FY2025	1,441,000,000 FY 2025; period end 2025-12-31; filed 2026-02-24; reporting currency USD source · NUM_IVZ_FREE_CASH_FLOW_FY2025	-3,374,900,000 FY 2025; period end 2025-12-31; filed 2026-02-27; reporting currency USD source · NUM_CG_FREE_CASH_FLOW_FY2025	Not available.	Not available.
Capital expenditures	Not available.	Not available.	162,000,000 FY 2025; period end 2025-12-31; filed 2026-03-12; reporting currency USD source · NUM_AMP_CAPEX_FY2025	115,703,000 FY 2025; period end 2025-12-31; filed 2026-02-27; reporting currency USD source · NUM_BX_CAPEX_FY2025	154,500,000 FY 2025; period end 2025-09-30; filed 2025-11-10; reporting currency USD source · NUM_BEN_CAPEX_FY2025 Non-aligned period: 2025-Q3; row majority 2025-Q4.	274,200,000 FY 2025; period end 2025-12-31; filed 2026-02-13; reporting currency USD source · NUM_TROW_CAPEX_FY2025	84,300,000 FY 2025; period end 2025-12-31; filed 2026-02-24; reporting currency USD source · NUM_IVZ_CAPEX_FY2025	99,400,000 FY 2025; period end 2025-12-31; filed 2026-02-27; reporting currency USD source · NUM_CG_CAPEX_FY2025	Not available.	Not available.
Dividends paid	1,201,000,000 FY 2025; period end 2025-12-31; filed 2026-02-25; reporting currency USD source · NUM_APO_DIVIDENDS_PAID_FY2025	649,942,000 FY 2025; period end 2025-12-31; filed 2026-02-27; reporting currency USD source · NUM_KKR_DIVIDENDS_PAID_FY2025	596,000,000 FY 2025; period end 2025-12-31; filed 2026-03-12; reporting currency USD source · NUM_AMP_DIVIDENDS_PAID_FY2025	6,013,385,000 FY 2025; period end 2025-12-31; filed 2026-02-27; reporting currency USD source · NUM_BX_DIVIDENDS_PAID_FY2025	683,700,000 FY 2025; period end 2025-09-30; filed 2025-11-10; reporting currency USD source · NUM_BEN_DIVIDENDS_PAID_FY2025 Non-aligned period: 2025-Q3; row majority 2025-Q4.	1,143,000,000 FY 2025; period end 2025-12-31; filed 2026-02-13; reporting currency USD source · NUM_TROW_DIVIDENDS_PAID_FY2025	377,300,000 FY 2025; period end 2025-12-31; filed 2026-02-24; reporting currency USD source · NUM_IVZ_DIVIDENDS_PAID_FY2025	505,100,000 FY 2025; period end 2025-12-31; filed 2026-02-27; reporting currency USD source · NUM_CG_DIVIDENDS_PAID_FY2025	Not available.	Not available.
Share buybacks	773,000,000 FY 2025; period end 2025-12-31; filed 2026-02-25; reporting currency USD source · NUM_APO_SHARE_BUYBACKS_FY2025	3,362,000 FY 2025; period end 2025-12-31; filed 2026-02-27; reporting currency USD source · NUM_KKR_SHARE_BUYBACKS_FY2025	2,907,000,000 FY 2025; period end 2025-12-31; filed 2026-03-12; reporting currency USD source · NUM_AMP_SHARE_BUYBACKS_FY2025	Not available.	240,300,000 FY 2025; period end 2025-09-30; filed 2025-11-10; reporting currency USD source · NUM_BEN_SHARE_BUYBACKS_FY2025 Non-aligned period: 2025-Q3; row majority 2025-Q4.	620,900,000 FY 2025; period end 2025-12-31; filed 2026-02-13; reporting currency USD source · NUM_TROW_SHARE_BUYBACKS_FY2025	123,600,000 FY 2025; period end 2025-12-31; filed 2026-02-24; reporting currency USD source · NUM_IVZ_SHARE_BUYBACKS_FY2025	686,500,000 FY 2025; period end 2025-12-31; filed 2026-02-27; reporting currency USD source · NUM_CG_SHARE_BUYBACKS_FY2025	Not available.	Not available.
Assets	460,949,000,000 FY 2025; period end 2025-12-31; filed 2026-02-25; reporting currency USD source · NUM_APO_ASSETS_FY2025	410,144,072,000 FY 2025; period end 2025-12-31; filed 2026-02-27; reporting currency USD source · NUM_KKR_ASSETS_FY2025	190,904,000,000 FY 2025; period end 2025-12-31; filed 2026-03-12; reporting currency USD source · NUM_AMP_ASSETS_FY2025	47,708,975,000 FY 2025; period end 2025-12-31; filed 2026-02-27; reporting currency USD source · NUM_BX_ASSETS_FY2025	32,368,300,000 FY 2025; period end 2025-09-30; filed 2025-11-10; reporting currency USD source · NUM_BEN_ASSETS_FY2025 Non-aligned period: 2025-Q3; row majority 2025-Q4.	14,341,800,000 FY 2025; period end 2025-12-31; filed 2026-02-13; reporting currency USD source · NUM_TROW_ASSETS_FY2025	27,094,000,000 FY 2025; period end 2025-12-31; filed 2026-02-24; reporting currency USD source · NUM_IVZ_ASSETS_FY2025	29,116,000,000 FY 2025; period end 2025-12-31; filed 2026-02-27; reporting currency USD source · NUM_CG_ASSETS_FY2025	28,633,369,000 FY 2025; period end 2025-12-31; filed 2026-02-25; reporting currency USD source · NUM_ARES_ASSETS_FY2025	13,492,935,000 FY 2025; period end 2025-12-31; filed 2026-02-17; reporting currency USD source · NUM_TPG_ASSETS_FY2025
Liabilities / equity	17.93 FY 2025; period end 2025-12-31; filed 2026-02-25 source · NUM_APO_LIABILITIES_TO_EQUITY_FY2025	10.63 FY 2025; period end 2025-12-31; filed 2026-02-27 source · NUM_KKR_LIABILITIES_TO_EQUITY_FY2025	28.15 FY 2025; period end 2025-12-31; filed 2026-03-12 source · NUM_AMP_LIABILITIES_TO_EQUITY_FY2025	2.98 FY 2025; period end 2025-12-31; filed 2026-02-27 source · NUM_BX_LIABILITIES_TO_EQUITY_FY2025	1.51 FY 2025; period end 2025-09-30; filed 2025-11-10 source · NUM_BEN_LIABILITIES_TO_EQUITY_FY2025 Non-aligned period: 2025-Q3; row majority 2025-Q4.	0.21 FY 2025; period end 2025-12-31; filed 2026-02-13 source · NUM_TROW_LIABILITIES_TO_EQUITY_FY2025	1.15 FY 2025; period end 2025-12-31; filed 2026-02-24 source · NUM_IVZ_LIABILITIES_TO_EQUITY_FY2025	3.13 FY 2025; period end 2025-12-31; filed 2026-02-27 source · NUM_CG_LIABILITIES_TO_EQUITY_FY2025	4.66 FY 2025; period end 2025-12-31; filed 2026-02-25 source · NUM_ARES_LIABILITIES_TO_EQUITY_FY2025	2.26 FY 2025; period end 2025-12-31; filed 2026-02-17 source · NUM_TPG_LIABILITIES_TO_EQUITY_FY2025

Code-computed comparisons

Latest reported revenue range: range endpoints are TPG (4,670,212,000) and APO (32,049,000,000). Calendar period: 2025-Q4. Computed from facts NUM_TPG_REVENUE_FY2025 and NUM_APO_REVENUE_FY2025; no authored numeric comparison. Excluded from this comparison: BEN: period not aligned (2025-Q3 vs 2025-Q4).
Reported net margin range: range endpoints are IVZ (-2.74%) and TROW (28.53%). Calendar period: 2025-Q4. Computed from facts NUM_IVZ_NET_MARGIN_FY2025 and NUM_TROW_NET_MARGIN_FY2025; no authored numeric comparison. Excluded from this comparison: BEN: period not aligned (2025-Q3 vs 2025-Q4).

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

Facts: 70. Claims survived: 0. Claims dropped: 0. Cells quarantined: 60.

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.