Westwood Grows ETFs and Energy Secondaries as 2025 Revenue Rises Despite Client Outflow

Overview

• Westwood’s ETF franchise topped $200 million after the late-quarter launch of the Westwood Enhanced Income Opportunity ETF (YLDW), which management said has seen strong initial acceptance.
• Flagship MDST surpassed $200 million and is in due diligence to onboard at one of the largest wirehouses, a step the firm says could expand distribution.
• Westwood Energy Secondaries Fund II closed oversubscribed with over $300 million in commitments, about double its initial target.
• Since 2023, the firm has raised nearly $350 million and invested more than $250 million across its energy secondaries flagship and co-investment funds.
• For 2025, revenue rose to $97.8 million with economic earnings of $14.3 million and AUM of $17.4 billion, while net outflows totaled $1.0 billion, mostly from a single large-cap value sub-advisory client.