Ares Management Corp Annual Report, Year Ended Dec 31, 2023

Ares Management Corporation (ARES) reported strong performance in its 2023 10-K filing, highlighted by significant growth in Assets Under Management (AUM) reaching $418.8 billion, a testament to its robust fundraising capabilities and diverse investment strategies across Credit, Private Equity, Real Assets, and Secondaries. The company demonstrated solid financial results, with total revenues increasing by 19% year-over-year, driven primarily by a substantial rise in management fees and a significant increase in carried interest allocation. This growth was supported by effective capital deployment of $68.1 billion and successful fundraising efforts that attracted capital from a broad base of institutional investors, with 88% of new capital coming from existing investors, underscoring client satisfaction. Key operational highlights include a 14% increase in compensation and benefits (excluding acquisition-related charges), reflecting headcount growth and expanded business activities. The company also emphasized its commitment to ESG principles and Diversity, Equity, and Inclusion (DEI) initiatives, integrating them into its business and investment processes. Despite market volatility and economic uncertainties, Ares maintained a strong focus on its disciplined, credit-oriented investment philosophy, positioning itself for continued growth and value creation for its stakeholders.