What was the adjusted EBITDA for AMG in Q3 2021 
es, specialty fixed income, and Asian equities not previously available in the U.S. market, and we are adding resources and capital to our distribution efforts in support of this evolving product mix and the forward opportunity. We continue to expand our suite of in-demand strategies, especially in alternatives, including both liquid and illiquid alternatives, which will further differentiate AMG and our affiliates going forward. Recently, on the product development side, we supported Pantheon, PFM, and Artemis in developing, seeding, and launching additional private markets in ESG strategies, again, consistent with our overall focus in these secular growth areas.
Pantheon has recently filed for a listed infrastructure vehicle which will further expand their investor base as they continue to build on their position as a leading provider of private market solutions. PFM has introduced a growth equity fund dedicated to healthcare innovation, leveraging their strong long-term track record of late-stage private markets investing within their flagship fund. Additionally, Artemis launched its positive future fund following the recent lift out of its global sustainable equities team. These are all great examples of how AMG's central strategic capabilities and seed capital can meaningfully support our affiliates in areas of increasing client demand.
A consistent theme across all of our client conversations today is the desire for an increasing focus on sustainable and active stewardship. As I have said before, sustainable investing requires an active approach and our affiliates are benefiting as clients increasingly engage high-quality active managers to generate positive impact in communities worldwide. Simultaneously, investors are also managing through an environment that has become increasingly complex and difficult to forecast and we believe that active managers, especially independent firms, are best-positioned to deliver client outcomes not replicable through passive investing. AMG Affiliates are among the highest quality independent active managers in the world, and given their excellent performance across a number of highly differentiated in-demand strategies, AMG is well positioned to benefit from the evolving environment.
Finally, the strength and momentum in our business that I've been describing over the past several quarters continues to build. Looking forward, we see significant opportunity for continued growth as we execute our strategy and increase our exposure to secular growth areas. We will do this by continuing to invest in new and existing affiliates as well as leveraging AMG's strategic capabilities. And through the consistent execution of this strategy, together with share repurchases, we will further compound our earnings and create significant shareholder value over time.
And with that, I'll turn it over to Tom to review the details of the quarter.
Tom Wojcik -- Chief Financial Officer
Thank you, Jay, and good morning, everyone. Our strong third quarter results demonstrate the unique attributes of AMG's model as we continue to invest for growth. Strong affiliate investment performance, organic growth, affiliate investments, and share repurchases combined to produce our third consecutive quarter of year-over-year earnings growth in excess of 20%, and AMG delivered net inflows as we continue to evolve our business mix toward secular growth areas. For the quarter, adjusted EBITDA of $228 million grew 26% year over year and economic earnings per share totaled $4.
Net client cash inflows were $3.3 billion for the quarter and $6.8 billion, excluding certain quantitative strategies. These results do not include net inflows from Parnassus which closed in early October. Overall, net inflows were driven by strong contributions from fast-growing areas, including private markets, specialty-fixed income, wealth management, and ESG. Turning to business performance by asset class and excluding certain quantitative strategies, in alternatives, we continue to see very strong fundraising levels across our private market 
es, specialty fixed income, and Asian equities not previously available in the U.S. market, and we are adding resources and capital to our distribution efforts in support of this evolving product mix and the forward opportunity. We continue to expand our suite of in-demand strategies, especially in alternatives, including both liquid and illiquid alternatives, which will further differentiate AMG and our affiliates going forward. Recently, on the product development side, we supported Pantheon, PFM, and Artemis in developing, seeding, and launching additional private markets in ESG strategies, again, consistent with our overall focus in these secular growth areas.
Pantheon has recently filed for a listed infrastructure vehicle which will further expand their investor base as they continue to build on their position as a leading provider of private market solutions. PFM has introduced a growth equity fund dedicated to healthcare innovation, leveraging their strong long-term track record of late-stage private markets investing within their flagship fund. Additionally, Artemis launched its positive future fund following the recent lift out of its global sustainable equities team. These are all great examples of how AMG's central strategic capabilities and seed capital can meaningfully support our affiliates in areas of increasing client demand.
A consistent theme across all of our client conversations today is the desire for an increasing focus on sustainable and active stewardship. As I have said before, sustainable investing requires an active approach and our affiliates are benefiting as clients increasingly engage high-quality active managers to generate positive impact in communities worldwide. Simultaneously, investors are also managing through an environment that has become increasingly complex and difficult to forecast and we believe that active managers, especially independent firms, are best-positioned to deliver client outcomes not replicable through passive investing. AMG Affiliates are among the highest quality independent active managers in the world, and given their excellent performance across a number of highly differentiated in-demand strategies, AMG is well positioned to benefit from the evolving environment.
Finally, the strength and momentum in our business that I've been describing over the past several quarters continues to build. Looking forward, we see significant opportunity for continued growth as we execute our strategy and increase our exposure to secular growth areas. We will do this by continuing to invest in new and existing affiliates as well as leveraging AMG's strategic capabilities. And through the consistent execution of this strategy, together with share repurchases, we will further compound our earnings and create significant shareholder value over time.
And with that, I'll turn it over to Tom to review the details of the quarter.
 Tom Wojcik -- Chief Financial Officer
Thank you, Jay, and good morning, everyone. Our strong third quarter results demonstrate the unique attributes of AMG's model as we continue to invest for growth. Strong affiliate investment performance, organic growth, affiliate investments, and share repurchases combined to produce our third consecutive quarter of year-over-year earnings growth in excess of 20%, and AMG delivered net inflows as we continue to evolve our business mix toward secular growth areas. For the quarter, adjusted EBITDA of $228 million grew 26% year over year and economic earnings per share totaled $4.
Net client cash inflows were $3.3 billion for the quarter and $6.8 billion, excluding certain quantitative strategies. These results do not include net inflows from Parnassus which closed in early October. Overall, net inflows were driven by strong contributions from fast-growing areas, including private markets, specialty-fixed income, wealth management, and ESG. Turning to business performance by asset class and excluding certain quantitative strategies, in alternatives, we continue to see very strong fundraising levels across our private market 