Market Intelligence
Largest U.S. Publicly Traded Asset Managers by Revenue and Revenue Per Employee
| Firm | Revenue | Employees | Revenue per Employee |
| BlackRock | $14,539 million | 16,200 | $897,469 |
| Invesco | $6,117 million | 8,821 | $693,504 |
| Franklin Resources (fiscal year ended September 2019) | $5,775 million | 9,600 | $601,563 |
| T. Rowe Price Group | $5,618 million | 7,365 | $762,797 |
| AllianceBernstein | $5,576 million | 3,811 | $938,241 |
| KKR & Co. | $4,221 million | 1,384 | $3,049,783 |
| Carlyle Group | $3,377 million | 1,775 | $1,902,535 |
| Apollo Global Management | $2,932 million | 1,421 | $2,063,229 |
| Legg Mason (fiscal year ended March 2020) | $2,922 million | 3,059 | $955,255 |
| Affiliated Managers Group | $2,240 million | 4,000 | $559,900 |
| Janus Henderson Group | $2,192 million | 2,335 | $938,929 |
| Ares Management | $1,765 million | 1,200 | $1,471,198 |
| Eaton Vance (fiscal year ended October 2019) | $1,683 million | 1,871 | $899,654 |
| Federated Hermes | $1,327 million | 1,826 | $726,667 |
| Waddell & Reed | $1,070 million | 1,162 | $921,097 |
| BrightSphere Investment Group | $820 million | 936 | $875,534 |
| Artisan Partners | $799 million | 440 | $1,815,909 |
| Victory Capital Holdings | $612 million | 358 | $1,710,539 |
| Sculptor Capital Management | $597 million | 390 | $1,531,656 |
| Virtus Investment Partners | $563 million | 578 | $974,474 |
| Cohen & Steers | $411 million | 328 | $1,252,530 |
| Focus Financial Partners | $382 million | 3,400 | $112,455 |
| Gamco Investors | $312 million | 189 | $1,652,741 |
| Hamilton Lane (fiscal year ended March 2020) | $274 million | 400 | $685,120 |
| WisdomTree Investments | $268 million | 208 | $1,290,399 |
| Pzena Investment Management | $151 million | 115 | $1,310,835 |
| Diamond Hill Investment Group | $137 million | 129 | $1,059,101 |
| Manning & Napier | $136 million | 307 | $443,000 |
| Silvercrest Asset Management Group | $102 million | 139 | $734,906 |
Data for all firms is for calendar year 2019, unless otherwise indicated.
Sources: SEC 10-K filings, CL-Media Relations.