Ares Management CorpARES
Ares Management Corp Financial Overview 2021–2025
Updated Jul 10, 2026Ares Management Corporation grew its Assets Under Management (AUM) by 29% in FY2025, securing $113.2 billion in fresh capital commitments. This scale highlights a resilient alternative asset platform capable of converting massive capital inflows into highly predictable fee generation. The firm’s long-term trajectory is evident over a wider horizon, with AUM more than doubling from $305.8 billion in FY2021 to $622.5 billion by the close of FY2025.
The financial engine driving Ares is its growth in Fee Related Earnings (FRE), which climbed 30% to $1.78 billion during FY2025. The company deployed $145.8 billion into the market that year, anchoring its primary credit segment at $406.9 billion in assets. Ares further expanded its physical footprint with the $3.7 billion acquisition of GCP International, pushing real assets to $139.1 billion. Momentum accelerated into Q1 2026, with total revenues jumping 28% to $1.4 billion on the back of an over 400% surge in incentive fees. Reflecting this sustained compounding of fee-paying assets and an increased quarterly dividend of $1.35, the market valued the stock at $161.63 per share at the close of FY2025.
Recent Developments (Q4 2025 and Q1 2026)
Ares expanded its credit facility revolver to $2.5 billion, extended its maturity to May 2031, and secured a $400 million term loan. The firm increased net income by 202% year-over-year in Q1 2026. This expansion was driven by Fee Paying AUM reaching $399.6 billion alongside total AUM growth to $644.3 billion.
Bulls will focus on the reaffirmed guidance of over $350 million in full-year 2026 realized net performance income, signaling sustained cash flow generation. Conversely, bears will note that Q1 2026 net performance income missed estimates at $75 million due to delayed European fund realizations. Despite this short-term miss, the stock appears cheaply valued relative to recent earnings growth, trading at an implied 22.2x P/E ratio as of the May 8, 2026 reporting date, not today.
What to watch: European fund realization timelines; utilization of the $3.0 billion accordion credit feature.
Rev
$5.60B
FY2025
NI
$426.1M
FY2025
OCF
$3.27B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
Ares Management Corp 8-K Report, Shareholder Vote Results (Jun 11, 2026)
Ares Management Corporation (ARES) filed an 8-K on June 11, 2026, reporting the results of its Annual Meeting of Stockholders held on June 8, 2026. The primary focus of the filing is the outcome of shareholder votes on two key proposals: the election of directors and the ratification of the independent registered public accounting firm. All director nominees were elected, and the appointment of Ernst & Young LLP as the independent auditor for the 2026 fiscal year was ratified. For investors, the smooth and overwhelmingly positive voting outcomes on both director elections and auditor ratification suggest continued confidence in the current management and governance structure of Ares Management. The significant "FOR" votes across all director nominees, with minimal opposition and a consistent number of broker non-votes, indicate strong shareholder alignment. Similarly, the near-unanimous approval for the auditor ratification reinforces the market's trust in the company's financial reporting and oversight.
Ares Management Corp 8-K Report, Material Agreement (May 28, 2026)
Ares Management Corporation (ARES) has filed an 8-K detailing significant amendments to its credit facility. The primary focus of this filing is Amendment No. 14 to its Sixth Amended and Restated Credit Agreement, dated May 21, 2026. This amendment introduces several key changes designed to enhance the company's financial flexibility and extend its borrowing capacity. Investors should note the extension of the credit facility's maturity date to May 21, 2031, which provides a longer-term runway for the company's operations and strategic initiatives. Furthermore, the revolver commitments have been substantially increased to $2.5 billion, with an additional uncommitted accordion feature that allows for a potential expansion up to $3.0 billion. These changes indicate a strengthened credit profile and increased access to liquidity.
Ares Management Corp 8-K Report, Financial Results (May 1, 2026)
Ares Management Corporation (ARES) has filed an 8-K on May 1, 2026, to report on its financial performance and corporate actions for the first quarter ended March 31, 2026. The filing primarily references a press release and an earnings presentation, which contain the detailed financial results. Investors should note that the information furnished in this 8-K is for disclosure purposes and is not deemed "filed" for regulatory purposes unless specifically incorporated by reference into other SEC filings.
Ares Management Corp 8-K Report, Regulation FD Disclosure (Mar 31, 2026)
Ares Management Corporation (ARES) has filed a Form 8-K to provide preliminary guidance on its realized net performance income for the quarter ending March 31, 2026. The company anticipates approximately $75 million in realized net performance income for the quarter, which is below its prior expectation of $100 million. This shortfall is attributed to the delayed realization of performance income from certain European-style funds, now expected in future quarters of 2026. Despite this quarterly miss, Ares Management reaffirms its full-year 2026 outlook, expecting to generate over $350 million in realized net performance income, a significant increase from the $169 million reported for the full year 2025. Investors are cautioned that these figures are preliminary estimates and actual results could differ materially. This disclosure is intended to provide early insight and should not be considered predictive of other financial metrics or indicative of future periods. The company emphasizes that these forward-looking statements involve risks and uncertainties and does not undertake to update them except as legally required. The full first-quarter results will provide a more complete picture.
Ares Management Corp 8-K Report, Material Agreement (Mar 31, 2026)
Ares Management Corp. (ARES) has announced the entry into a new Credit Agreement, dated March 27, 2026, through its subsidiary Ares Holdings L.P. This agreement provides a $400 million term loan facility, which was fully funded at closing and matures on March 27, 2029. The facility's proceeds are designated for refinancing existing debt, covering fees and expenses, and supporting ongoing working capital and general corporate purposes. This new debt issuance is accompanied by financial covenants that investors should monitor. Key among these are a maximum net debt to Adjusted EBITDA ratio of 4.00 to 1.00 and a minimum Assets Under Management (AUM) threshold of approximately $179.8 billion. The agreement also includes standard provisions for events of default, which could lead to commitment termination and acceleration of borrowings. The interest rate on the loans is variable, based on either the Term SOFR Rate or the Base Rate, plus an applicable margin determined by ARES's senior unsecured debt ratings.
View all 8-K filings →