Ares Management Corporation Earnings Recaps
Q2 2026
Aug 2, 2026
The stock rose 3.2% following the quarter, reflecting investor approval of ongoing strong fundraising momentum and broad-based AUM growth that translated into solid fee-related earnings gains.
Key takeaways
- Assets under management (AUM) increased 17% year-over-year to approximately $671 billion, with fee-paying AUM growing to approximately $410 billion.
- Fee-related earnings and realized income rose approximately 20% and over 30%, respectively, driven by scale and fund performance.
- Record quarterly fundraising of approximately $36 billion contributed to leading dry powder levels of $170 billion and $114 billion of AUM not yet paying fees.
- Fundraising diversification improved with 70% of 2026 capital raised outside the four largest credit fund families, totaling commitments across ~90 funds/vehicles.
- Strong demand persisted across credit, infrastructure, and real estate strategies, with key funds hitting or exceeding hard caps and poised for further closes later in the year.
Q1 2026
May 2, 2026
Ares Management reported first quarter results that reflected steady business performance, marked by double-digit asset growth and record fundraising, with the market reacting modestly (+1.4% post-earnings) as positive momentum largely met investor expectations.
Key takeaways
- Assets under management (AUM) grew 18% year-over-year to $644 billion, with fee-paying AUM up 19% to $400 billion.
- Quarterly dividend was raised over 20% year-over-year to $1.35 per share, payable June 30.
- Management fees increased 22%, Fee Related Earnings (FRE) grew 26%, and realized income rose 24% year-over-year.
- Gross capital raised reached $30 billion in Q1, an all-time high for the first quarter and up 46% from last year.
- Investment deployment topped $32 billion, outpacing last year’s first quarter despite seasonal and geopolitical headwinds; available capital now stands at over $158 billion.
Q3 2025
Nov 5, 2025
Ares Management Corporation delivered a robust third quarter in 2025, achieving significant growth across its investment strategies, with record fundraising and strong operational metrics.
Key takeaways
- Management fees increased by 28% year-over-year, while fee-related earnings (FRE) grew by 39%.
- Raised a record $30 billion in new capital during the quarter, contributing to a total of over $105 billion raised in the last 12 months.
- Assets Under Management (AUM) reached $595 billion, with fee-paying AUM at $368 billion, both up 28% year-over-year.
- Ares closed its third infrastructure secondaries fund at $3.3 billion, making it one of the largest in the market, alongside significant momentum in the infrastructure debt sector.
- Low realized loss rates in direct lending strategy remain consistent with a cumulative annual average of just 1 basis point over the past two decades.