Ares Management Corporation Q2 2026 Earnings Recap

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.