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Related Party Transactions
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
Mutual Funds
We provide investment management, distribution, shareholder, administrative and brokerage services to individual investors by means of retail mutual funds sponsored by our company and our subsidiaries. We provide substantially all of these services under contracts that specify the services to be provided and the fees to be charged. The contracts are subject to annual review and approval by each mutual fund’s board of directors or trustees and, in certain circumstances, by the mutual fund’s shareholders.
Revenues for services provided or related to the mutual funds are as follows:
Years Ended December 31
202520242023
(in thousands)
Investment advisory and services fees$1,672,641 $1,597,253 $1,377,916 
Distribution revenues796,897 711,156 575,647 
Shareholder servicing fees73,808 80,947 76,440 
Other revenues8,225 7,400 9,398 
$2,551,571 $2,396,756 $2,039,401 
EQH and its Subsidiaries
We provide investment management and certain administration services to EQH and its subsidiaries. In addition, EQH and its subsidiaries distribute company-sponsored mutual funds, for which they receive commissions and distribution payments. Also, we are covered by various insurance policies maintained by EQH and we pay fees for technology and other services provided by EQH and its subsidiaries. Additionally, see Note 12 Debt, for disclosures related to our credit facility with EQH.
Aggregate amounts included in the consolidated financial statements for transactions with EQH and its subsidiaries, as of and for the years ended December 31, are as follows:
Years Ended December 31
202520242023
(in thousands)
Revenues:
Investment advisory and services fees$201,341 $180,511 $165,748 
Other revenues574 566 617 
$201,915 $181,077 $166,365 
Expenses:   
Commissions and distribution payments to financial intermediaries$3,770 $3,645 $3,492 
General and administrative2,113 2,362 2,909 
EQH Facility Interest16,670 25,976 37,304 
Other4,000 3,469 2,949 
$26,553 $35,452 $46,654 
Statement of Financial Condition:  
Institutional investment advisory and services fees receivable$11,462 $35,515 
Prepaid expenses513 543 
Other due (to) from EQH and its subsidiaries(2,835)(2,800)
EQH Facility(810,000)(710,000)
$(800,860)$(676,742)
Other Related Parties
The consolidated statements of financial condition include a net receivable from AB Holding as a result of cash transactions for fees and expense reimbursements. The net receivable balance included in the consolidated statements of financial condition as of December 31, 2025 and 2024 was $6.8 million and $8.2 million, respectively.