Ryan Specialty Group press release (NYSE: RYAN ): Q3 Non-GAAP EPS of $0.32 beats by $0.01. Revenue of $501.9M (+21.8% Y/Y) beats by $5.55M. Shares -0.07%. Full Year 2023 Outlook*
The Company is updating its full year 2023 outlook for Organic Revenue Growth Rate and for Adjusted EBITDAC Margin as follows:
Organic Revenue Growth Rate guidance for full year 2023 to be between 13.5% – 14.5%, compared to the Company's prior guidance of 13.0% – 14.5%
Adjusted EBITDAC Margin guidance for full year 2023 to be between 29.5% – 30.0%, compared to the Company's prior guidance of 29.0% – 30.0%

Ryan Specialty Group Non-GAAP EPS of $0.32 beats by $0.01, revenue of $501.9M beats by $5.55M

August 10, 2023 07:00 ET
All amounts in U.S. dollars unless otherwise stated
TORONTO, Aug.  10, 2023  (GLOBE NEWSWIRE) --  Onex Corporation (TSX: ONEX) today announced its financial results for the second quarter and six months ended June 30, 2023. “We continue to make steady progress on our strategic objectives,” said Bobby Le Blanc, Chief Executive Officer. “In the last few months, we have successfully realized several investments, closed our first continuation vehicle, and taken measured steps to reduce our cost structure and drive more consistent profitable growth. Together with our strong liquidity, we are well positioned to capitalize on the organic and inorganic opportunities before us.”
Financial Results
Three Months Ended
$
$

$
$
$
Q2 Highlights
Onex’ investing capital per fully diluted share(6) increased 9% during the 12 months ended June 30, 2023 and 3% from the previous quarter ended March 31, 2023. Onex had approximately $7.9 billion of investing capital, or $98.87 (C$130.91) per fully diluted share at June 30, 2023. In Canadian dollars, investing capital per fully diluted share increased 12% over the last 12 months and 1% from the previous quarter ended March 31, 2023. The value of Onex’ private equity investments increased 3% in the second quarter of 2023(7) (Q2 2022: 3% decrease). Investments in Credit strategies generated a net gain of $27 million or a return of 4% in the second quarter of 2023(8) (Q2 2022: net loss of $44 million or a loss of 6%). In August, Onex sold Ryan, LLC to a single-asset continuation fund for net proceeds to Onex of approximately $117 million. Onex will manage approximately $600 million of fee-generating assets under management (“FG AUM”)(9) in the continuation fund for recurring management fees and a carried interest opportunity. Onex completed the sale of approximately 8.2 million Class A common shares of Ryan Specialty Group and 11.9 million subordinate voting shares of Celestica for aggregate net proceeds of $460 million. In August, an additional 6.7 million subordinate voting shares of Celestica were sold for $133 million in net proceeds to Onex. Onex repurchased 860,694 Subordinate Voting Shares (SVS) in the second quarter and an additional 722,686 SVS in July 2023 for a total of $84 million (C$112 million) or an average cost per share of $53.25 (C$70.79). Onex priced its twenty-eighth U.S. CLO and third issuance this year for approximately $440 million in fee generating assets. Onex incurred a $15 million restructuring expense in connection with a reorganization of the Onex Partners platform and actions to optimize general corporate support functions. In July, Onex invested $157 million as part of the ONCAP IV and ONCAP V Groups’ investment in Biomerics. In addition, Onex invested approximately $80 million as part of the ONCAP V Group’s investment in Education Holding Corporation, a provider of before and after school care to students in the United States. As of June 30, 2023, Onex had $34.3 billion of FG AUM. Run-rate management fees(10) from this capital were $251 million. Unrealized carried interest was $211 million at June 30, 2023. Onex’ cash and near-cash(11) balance was $1.5 billion or 20% of Onex’ investing capital as of June 30, 2023 (December 31, 2022 – $1.1 billion or 13% of Onex’ investing capital). Webcast
Onex management will host a webcast to review Onex’ second quarter 2023 results on Thursday, August 10, 2023 at 11:00 a.m. ET. The webcast will be available in listen-only mode from the Presentations and Events section of Onex’ website, https://www.onex.com/events-and-presentations . A 90-day on-line replay will be available shortly following the completion of the event. Additional Information
Enclosed are supplementary financial schedules related to Onex’ consolidated net earnings (loss), investing capital, fee-related earnings (loss), distributable earnings, and cash and near-cash changes for the three and six months ended June 30, 2023. The financial statements prepared in accordance with International Financial Reporting Standards (IFRS), including Management’s Discussion and Analysis of the results, are posted on Onex’ website, www.onex.com , and are also available on SEDAR at www.sedar.com . A supplemental information package with additional information is available on Onex’ website, www.onex.com . About Onex
Onex is an investor and asset manager that invests capital on behalf of Onex shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Onex’ two primary businesses are Private Equity and Credit. In Private Equity, we raise funds from third-party investors, or limited partners, and invest them, along with Onex’ own investing capital, through the funds of our private equity platforms, Onex Partners and ONCAP. Similarly, in Credit, we raise and invest capital across several private credit, public credit and public equity strategies. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, insurance companies and family offices. In total, Onex has $49.5 billion in assets under management, of which $7.9 billion is Onex’ own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms. Onex is listed on the Toronto Stock Exchange under the symbol ONEX. For more information on Onex, visit its website at www.onex.com . Onex’ security filings can also be accessed at www.sedar.com . Forward-Looking Statements
This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as “believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of similar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements. Except as may be required by Canadian securities law, Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release. Non-GAAP Financial Measures
This press release contains non-GAAP financial measures and ratios which have been calculated using methodologies that are not in accordance with IFRS. The presentation of financial measures in this manner does not have a standardized meaning prescribed under IFRS and is therefore unlikely to be comparable to similar financial measures presented by other companies. Onex management believes these financial measures and ratios provide helpful information to investors. Reconciliations of the non-GAAP financial measures to information contained in the consolidated financial statements have been presented where practical. For Further Information:
1,053
(i) Excludes cash and cash equivalents allocated to the asset management segment related to accrued incentive compensation ($63 million (December 31, 2022 – $122 million)) and contingent consideration related to the acquisition of Onex Falcon ($57 million (December 31, 2022 – $57 million)). (ii) Includes restricted cash and cash equivalents of $84 million (December 31, 2022 – $2 million) for which the Company can readily remove the external restriction or for which the restriction will be removed in the near term. Excludes cash and cash equivalents for Onex’ share of uncalled expenses payable by the Investment Holding Companies of $36 million (December 31, 2022 - $27 million). (iii) Includes management fees and recoverable fund expenses receivable from certain funds which Onex has elected to defer cash receipt from. At December 31, 2022, the amount presented is net of amounts allocated to the asset management segment related to accrued incentive compensation and contingent consideration related to the acquisition of Falcon Investment Advisors. (iv) Subscription financing receivable attributable to a private equity investment and to third-party investors in certain Credit Funds. The table below provides a reconciliation of the change in cash and near-cash from December 31, 2022 to June 30, 2023. (Unaudited)($ millions)

(1) Refer to pages 19, 20 and 21 of Onex’ Q2 2023 Interim MD&A for further details concerning the composition of segment net earnings (loss). A reconciliation of total segment net earnings (loss) to net earnings (loss) is provided in the supplementary financial schedules in this press release. (2) Refer to the glossary in Onex’ Q2 2023 Interim MD&A for details concerning the composition of fully diluted shares. (3) Asset management fee-related earnings (loss) excludes Onex’ public company expenses and other expenses associated with managing Onex’ investing capital and is a component of total fee-related earnings (loss). (4) Total fee-related earnings (loss) is a non-GAAP financial measure that does not have a standardized meaning prescribed under International Financial Reporting Standards (“IFRS”). Therefore, it may not be comparable to similar financial measures disclosed by other companies. The most directly comparable financial measure under IFRS to fee-related earnings (loss) is Onex’ net earnings (loss). Refer to the 2023 Year-To-Date Results & Activity section of Onex’ Q2 2023 Interim MD&A and the supplementary financial schedules in this press release for further details concerning fee-related earnings (loss). (5) Distributable earnings is a non-GAAP financial measure that does not have a standardized meaning prescribed under IFRS. Therefore, it may not be comparable to similar financial measures disclosed by other companies. The most directly comparable financial measure under IFRS to distributable earnings is Onex’ net earnings (loss). Refer to the 2023 Year-To-Date Results & Activity section of Onex’ Q2 2023 Interim MD&A and the supplementary financial schedules in this press release for further details concerning distributable earnings. (6) Refer to the glossary in Onex’ Q2 2023 Interim MD&A for details concerning the composition of investing capital per share. The percentage changes in investing capital per share exclude the impact of capital deployed in Onex’ asset management segment, where applicable, and dividends paid by Onex. (7) The gross return on Onex’ private equity investments is a non-GAAP ratio calculated using methodologies that are not in accordance with IFRS. The presentation of this ratio does not have a standardized meaning prescribed under IFRS and therefore may not be comparable to similar financial measures presented by other companies. The net gains (losses) used to calculate the gross return of Onex’ private equity investments are gross of management incentive programs. Refer to page 9 of Onex’ Q2 2023 Interim MD&A for further details concerning the gross performance of Onex’ private equity investments. (8) The percentage returns on Credit investments have been adjusted for capital deployed, realizations and distributions
(9) Refer to the glossary in Onex’ Q2 2023 Interim MD&A for details concerning the composition of FG AUM. (10) Refer to the glossary in Onex’ Q2 2023 Interim MD&A for details concerning the composition of run-rate management fees. (11) Cash and near-cash is a non-GAAP financial measure calculated using methodologies that are not in accordance with IFRS. The presentation of these measures does not have standardized meaning prescribed under IFRS and therefore might not be comparable to similar financial measures presented by other companies. The most directly comparable financial measure under IFRS to cash and near-cash is Onex’ consolidated cash and cash equivalents balance, which was $645 million at June 30, 2023 (December 31, 2022 - $111 million). Refer to the Cash and Near-Cash section of Onex’ Q2 2023 Interim MD&A and the supplementary financial schedules in this press release for further details concerning Onex’ cash and near-cash.

Onex Reports Second Quarter 2023 Results

Author of the article:
We apologize, but this video has failed to load. Try refreshing your browser, or
All
Article content
TORONTO, Aug. 10, 2023 (GLOBE NEWSWIRE) — Onex Corporation (TSX: ONEX) today announced its financial results for the second quarter and six months ended June 30, 2023. “We continue to make steady progress on our strategic objectives,” said Bobby Le Blanc, Chief Executive Officer. “In the last few months, we have successfully realized several investments, closed our first continuation vehicle, and taken measured steps to reduce our cost structure and drive more consistent profitable growth. Together with our strong liquidity, we are well positioned to capitalize on the organic and inorganic opportunities before us.”
Advertisement 2
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada. Exclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others. Daily content from Financial Times, the world's leading global business publication. Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada. Exclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others. Daily content from Financial Times, the world's leading global business publication. Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword. REGISTER TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. or
Article content
Three Months Ended
$
$

$
$
$
Q2 Highlights
Onex’ investing capital per fully diluted share(6) increased 9% during the 12 months ended June 30, 2023 and 3% from the previous quarter ended March 31, 2023. Onex had approximately $7.9 billion of investing capital, or $98.87 (C$130.91) per fully diluted share at June 30, 2023. In Canadian dollars, investing capital per fully diluted share increased 12% over the last 12 months and 1% from the previous quarter ended March 31, 2023. The value of Onex’ private equity investments increased 3% in the second quarter of 2023(7) (Q2 2022: 3% decrease). Investments in Credit strategies generated a net gain of $27 million or a return of 4% in the second quarter of 2023(8) (Q2 2022: net loss of $44 million or a loss of 6%). In August, Onex sold Ryan, LLC to a single-asset continuation fund for net proceeds to Onex of approximately $117 million. Onex will manage approximately $600 million of fee-generating assets under management (“FG AUM”)(9) in the continuation fund for recurring management fees and a carried interest opportunity. Onex completed the sale of approximately 8.2 million Class A common shares of Ryan Specialty Group and 11.9 million subordinate voting shares of Celestica for aggregate net proceeds of $460 million. In August, an additional 6.7 million subordinate voting shares of Celestica were sold for $133 million in net proceeds to Onex. Onex repurchased 860,694 Subordinate Voting Shares (SVS) in the second quarter and an additional 722,686 SVS in July 2023 for a total of $84 million (C$112 million) or an average cost per share of $53.25 (C$70.79). Onex priced its twenty-eighth U.S. CLO and third issuance this year for approximately $440 million in fee generating assets. Onex incurred a $15 million restructuring expense in connection with a reorganization of the Onex Partners platform and actions to optimize general corporate support functions. In July, Onex invested $157 million as part of the ONCAP IV and ONCAP V Groups’ investment in Biomerics. In addition, Onex invested approximately $80 million as part of the ONCAP V Group’s investment in Education Holding Corporation, a provider of before and after school care to students in the United States. As of June 30, 2023, Onex had $34.3 billion of FG AUM. Run-rate management fees(10) from this capital were $251 million. Unrealized carried interest was $211 million at June 30, 2023. Onex’ cash and near-cash(11) balance was $1.5 billion or 20% of Onex’ investing capital as of June 30, 2023 (December 31, 2022 – $1.1 billion or 13% of Onex’ investing capital). Advertisement 3
Article content
Webcast
Onex management will host a webcast to review Onex’ second quarter 2023 results on Thursday, August 10, 2023 at 11:00 a.m. ET. The webcast will be available in listen-only mode from the Presentations and Events section of Onex’ website, https://www.onex.com/events-and-presentations . A 90-day on-line replay will be available shortly following the completion of the event. Additional Information
Enclosed are supplementary financial schedules related to Onex’ consolidated net earnings (loss), investing capital, fee-related earnings (loss), distributable earnings, and cash and near-cash changes for the three and six months ended June 30, 2023. The financial statements prepared in accordance with International Financial Reporting Standards (IFRS), including Management’s Discussion and Analysis of the results, are posted on Onex’ website, www.onex.com , and are also available on SEDAR at www.sedar.com . A supplemental information package with additional information is available on Onex’ website, www.onex.com . About Onex
Onex is an investor and asset manager that invests capital on behalf of Onex shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Onex’ two primary businesses are Private Equity and Credit. In Private Equity, we raise funds from third-party investors, or limited partners, and invest them, along with Onex’ own investing capital, through the funds of our private equity platforms, Onex Partners and ONCAP. Similarly, in Credit, we raise and invest capital across several private credit, public credit and public equity strategies. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, insurance companies and family offices. In total, Onex has $49.5 billion in assets under management, of which $7.9 billion is Onex’ own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms. Top Stories
Article content
Onex is listed on the Toronto Stock Exchange under the symbol ONEX. For more information on Onex, visit its website at www.onex.com . Onex’ security filings can also be accessed at www.sedar.com . Forward-Looking Statements
This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as “believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of similar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements. Except as may be required by Canadian securities law, Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release. Advertisement 5
1,053
(i) Excludes cash and cash equivalents allocated to the asset management segment related to accrued incentive compensation ($63 million (December 31, 2022 – $122 million)) and contingent consideration related to the acquisition of Onex Falcon ($57 million (December 31, 2022 – $57 million)). (ii) Includes restricted cash and cash equivalents of $84 million (December 31, 2022 – $2 million) for which the Company can readily remove the external restriction or for which the restriction will be removed in the near term. Excludes cash and cash equivalents for Onex’ share of uncalled expenses payable by the Investment Holding Companies of $36 million (December 31, 2022 – $27 million). Advertisement 11
Article content
(1) Refer to pages 19, 20 and 21 of Onex’ Q2 2023 Interim MD&A for further details concerning the composition of segment net earnings (loss). A reconciliation of total segment net earnings (loss) to net earnings (loss) is provided in the supplementary financial schedules in this press release. (2) Refer to the glossary in Onex’ Q2 2023 Interim MD&A for details concerning the composition of fully diluted shares. (3) Asset management fee-related earnings (loss) excludes Onex’ public company expenses and other expenses associated with managing Onex’ investing capital and is a component of total fee-related earnings (loss). (4) Total fee-related earnings (loss) is a non-GAAP financial measure that does not have a standardized meaning prescribed under International Financial Reporting Standards (“IFRS”). Therefore, it may not be comparable to similar financial measures disclosed by other companies. The most directly comparable financial measure under IFRS to fee-related earnings (loss) is Onex’ net earnings (loss). Refer to the 2023 Year-To-Date Results & Activity section of Onex’ Q2 2023 Interim MD&A and the supplementary financial schedules in this press release for further details concerning fee-related earnings (loss). (5) Distributable earnings is a non-GAAP financial measure that does not have a standardized meaning prescribed under IFRS. Therefore, it may not be comparable to similar financial measures disclosed by other companies. The most directly comparable financial measure under IFRS to distributable earnings is Onex’ net earnings (loss). Refer to the 2023 Year-To-Date Results & Activity section of Onex’ Q2 2023 Interim MD&A and the supplementary financial schedules in this press release for further details concerning distributable earnings. (6) Refer to the glossary in Onex’ Q2 2023 Interim MD&A for details concerning the composition of investing capital per share. The percentage changes in investing capital per share exclude the impact of capital deployed in Onex’ asset management segment, where applicable, and dividends paid by Onex. (7) The gross return on Onex’ private equity investments is a non-GAAP ratio calculated using methodologies that are not in accordance with IFRS. The presentation of this ratio does not have a standardized meaning prescribed under IFRS and therefore may not be comparable to similar financial measures presented by other companies. The net gains (losses) used to calculate the gross return of Onex’ private equity investments are gross of management incentive programs. Refer to page 9 of Onex’ Q2 2023 Interim MD&A for further details concerning the gross performance of Onex’ private equity investments. (8) The percentage returns on Credit investments have been adjusted for capital deployed, realizations and distributions
(9) Refer to the glossary in Onex’ Q2 2023 Interim MD&A for details concerning the composition of FG AUM. (10) Refer to the glossary in Onex’ Q2 2023 Interim MD&A for details concerning the composition of run-rate management fees. (11) Cash and near-cash is a non-GAAP financial measure calculated using methodologies that are not in accordance with IFRS. The presentation of these measures does not have standardized meaning prescribed under IFRS and therefore might not be comparable to similar financial measures presented by other companies. The most directly comparable financial measure under IFRS to cash and near-cash is Onex’ consolidated cash and cash equivalents balance, which was $645 million at June 30, 2023 (December 31, 2022 – $111 million). Refer to the Cash and Near-Cash section of Onex’ Q2 2023 Interim MD&A and the supplementary financial schedules in this press release for further details concerning Onex’ cash and near-cash.

(April 1992 BE Cover / Screenshot via Twitter)
Considered an investment icon by BLACK ENTERPRISE, John W. Rogers Jr. created the first family of equity mutual funds managed by African Americans. He is also celebrated for leading a legacy fueled by his fight for diversity on corporate boards and better financial opportunities on behalf of Black firms. As we look back at the world of Black business, Rogers’ monumental formula to architecting and achieving a $1.6 billion portfolio landed him No. 1 on the BE ASSET MANAGERS list with $11 billion in assets under management. He was also recognized at number 19 on our 40 “ Titans: The Most Powerful African Americans in Business–and How They Shaped Our World” list. A young stock-building lad turned investor
When it came down to shopping for Christmas and birthdays, Rogers’ Dad had an unusual gift idea in mind: brand new stock s and a growing portfolio. By the age of 12, Rogers’ passion for investing had begun to take flight. As a Princeton college student, Rogers saw his interest in equities grow while pursuing an AB in economics. On his path to wealth building, Rogers leveraged his passion for something greater. The recent grad went on to work as a stockbroker at William Blair & Company over the two-and-a-half years after acquiring his degree. But it took three years for Rogers to act on a need to invest in undervalued small-and medium-sized companies that show a strong potential for growth. In 1983, Rogers founded Ariel Capital Management, now Ariel Investments L.L.C. , the first African American firm to develop a mutual fund: the Ariel Fund . With offices in New York and Sydney, the Chicago-based firm manages more than $16 billion in assets and offers investors six no-load mutual funds and nine separate accounts. Rogers remains Ariel’s chairman, chief investment officer and stock-picker, co-managing funds such as: Ariel Appreciation Fund, Ariel Small Cap Value, Ariel Small Cap Value Concentrated, Ariel Small/Mid Cap Value, and Ariel Mid Cap Value. The Ariel Fund, on the other hand, serves as Rogers’ $2.5 billion flagship. Launched in 1986, the fund reigned as the longest-running of its kind in Morningstar’s mid-cap value category. Multi-billion dollar milestones and investments
In spite of the 1987 crash known as Black Monday, Ariel invested into cheap stocks, encouraged clients and brokers to jump on the wave, and outperformed with double-digit gains. The winnings took a hit during the 2008 financial crisis, and still managed to progress slow and steady. In 2003, Ariel achieved an investment milestone when 17 major corporations selected the company’s mutual funds for its 401k plans, BLACK ENTERPRISE previously reported . The firm reported assets under management of more than $15 billion–the nation’s largest African American asset manager. Today, @ArielAlts —Ariel’s first foray into private equity in our four-decade history—announced the historic close of Project Black at $1.45 billion. #ShareAriel pic.twitter.com/JpNsHBG7US
Today, Ariel solidifies its place in the future of Black wealth with its first foray into private equity in its four-decade history. The company announced the historic close of Project Black at $1.45 billion on the first day of Black History Month . One of the largest first-time private equity funds of all time, Project Black seeks to close the racial wealth gap by creating minority-owned businesses of scale that can serve as Tier 1 suppliers to the Fortune 500. (Twitter / @ArielInvests)
Acting on a responsibility
For close to 30 years, Rogers has dedicated his time to promoting financial literacy and wealth-building through investing using the Ariel Education Initiative. While our research capabilities have since expanded, Rogers’ patient approach still anchors the firm today. Beyond Ariel, Rogers advocates for diversity as co-founder of the Black Corporate Directors Conference, which which brings together scores of African American business leaders to focus on their role in corporate governance. But he discovered that too many “weren’t fighting for the civil rights agenda once in the boardroom.”
“Too often, we were just happy to be there. We were uncomfortable making the white leadership uncomfortable. So we sort of sat there and, in effect, gave cover for the status quo to stay the same,” Rogers previously told Derek Dingle, BLACK ENTERPRISE Sr. VP/Chief Content Officer. Meanwhile, Rogers actively fights for Black firms to gain access to opportunities to manage corporate, pension fund, and endowment dollars. By requiring inclusivity among portfolio companies, Ariel has successfully diversified corporate board and leadership positions. “We remind people that it takes courage to speak out to make a difference. We have a responsibility,” he added. Allow us to reintroduce ourselves. After 40 slow and steady years, today we are unveiling our rebranded identity. Meet us over on https://t.co/6j4zbgWnyW to experience our new look and feel, or read our press release to learn more: https://t.co/lXTkBtUsWl pic.twitter.com/QaKAtneLfu
Beyond Ariel, Rogers is a member of the board of directors of McDonald’s, Exelon Corp, NIKE, The New York Times Company, Ryan Specialty Group Holdings and the Obama Foundation. He also serves as Vice Chair of the board of trustees of The University of Chicago. Black Enterprise Titan John Rogers is the founder of Ariel Capital Management, now Ariel Investments, the first family of equity mutual funds managed by African Americans. In 2017, Rogers represented exemplars among those found on the 2017 BLACK ENTERPRISE Registry of Corporate Directors, which included 292 board members from the S&P 500. Rogers once said if BE 100s asset managers and other firms demand companies in which they invest “look like America and live up to values they say they care about, they will change.”
“Unfortunately, most money managers talk about profit margins and growth, and what’s happening with the stock price and valuation but not pressing that management team on those issues.”

Slow, Steady, & Progressive: Investment Icon John W. Rogers Jr Develops First Black-Owned Mutual Fund

Ryan Specialty Group Earnings Preview
February 27, 2023 3:02 PM | 1 min read
Ryan Specialty Group RYAN is set to give its latest quarterly earnings report on Tuesday, 2023-02-28. Here's what investors need to know before the announcement. Analysts estimate that Ryan Specialty Group will report an earnings per share (EPS) of $0.26. Ryan Specialty Group bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Past Earnings Performance
Last quarter the company missed EPS by $0.01, which was followed by a 23.01% drop in the share price the next day. Here's a look at Ryan Specialty Group's past performance and the resulting price change:
Quarter

Ryan Specialty Group Earnings Preview

InsuraGuest, a Software-as-a-Service company, provides a proprietary InsurTech software platform that delivers a specialized policy to the hotel to protect the guest during their stay.

InsuraGuest

VANCOUVER , British Columbia -LRB- December 2 , 2021 -RRB- -- InsuraGuest , Inc. ® -LRB- TSX-V : ISGI -RRB- -LRB-  : ISGIF -RRB- -LRB- `` InsuraGuest '' or the `` Company '' -RRB- , through its wholly owned U.S. hospitality subsidiary InsuraGuest announces it has launched its strategic alliance with SUITELIFE Underwriting Managers , a division of the Ryan Specialty Group family and a part of RSG Underwriting Managers , LLC , the managing general underwriting specialty of Ryan Specialty Group .

InsuraGuest Hotel & Resort Supplemental Insurance.
InsuraGuest Launches Strategic Alliance with SUITELIFE.

Generali Group (BIT: G) provides global insurance and asset management solutions. It focuses on business areas such as property and casualty insurance, insurance for companies, and life insurance. The group protects against damage to property, personal injury, and public liability. The company was founded in 1831 and is based in Trieste, Italy.

Generali Group

generali gc&c uk

Nationwide Mutual Insurance Company (Nationwide) is a diversified insurance and financial services organization. The company provides customers with a wide range of insurance and financial services, including auto, motorcycle, boat, homeowners, pet, life, farm, and commercial insurance. Additionally, it offers annuities, mortgages, mutual funds, pensions, long-term savings plans, and specialty health services. The company was founded in 1926 and is based in Columbus, Ohio.

Nationwide Mutual Insurance Company

Lloyd's is an insurance marketplace, that provides specialist insurance services to businesses in multiple countries and territories. More than 50 leading insurance companies, 200 registered Lloyd’s brokers and 4,000 local coverholders operate in and bring business to the Lloyd’s market. The company was founded in 1688 and is based in London, United Kingdom.

Lloyd's

Robert  Le Blanc

Private Equity

Unattributed VC

Unattributed VC - II

Private Equity - II

Ryan Specialty Group (RSG) (NYSE: RYAN) is an international holding company consisting of a wholesale broker, R-T Specialty, underwriting manager, RSG Underwriting Managers; and insurance service provider, Ryan Direct Group, each servicing a client base of brokers, agents, and insurance carriers. The company was founded in 2010 and is based in Chicago, Illinois.

Name	Work History	Title	Status
Patrick G. Ryan	Aon	Founder, Chief Executive Officer	Current
Subscribe to see more	Subscribe to see more	Subscribe to see more	Subscribe to see more
Subscribe to see more	Subscribe to see more	Subscribe to see more	Subscribe to see more
Subscribe to see more	Subscribe to see more	Subscribe to see more	Subscribe to see more
Subscribe to see more		Subscribe to see more	Subscribe to see more

Name	Patrick G. Ryan	Subscribe to see more	Subscribe to see more	Subscribe to see more	Subscribe to see more
Work History	Aon	Subscribe to see more	Subscribe to see more	Subscribe to see more
Title	Founder, Chief Executive Officer	Subscribe to see more	Subscribe to see more	Subscribe to see more	Subscribe to see more
Status	Current	Subscribe to see more	Subscribe to see more	Subscribe to see more	Subscribe to see more

Wells Fargo Success Story

Professional Services

Platform Overview

Ryan Specialty Group

Executives

Ryan Specialty Group Management Team

16 Team Members