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Key Takeaways Ares Management shares have gained 28.8% in six months, outperforming the industry and the S&P 500.Ares Management AUM rose 17% to $671.3B, while fee-paying AUM climbed 17% to $409.9B as of June 30, 2026.ARES' rising expenses and debt, plus a 27.11X P/E, point to near-term pressure and a premium valuation. Shares of Ares Management (ARES - Free Report) have jumped 28.8% in the past six months, outperforming the industry's 15.3% growth. In the same time frame, the S&P 500 has rallied 13.1%.

Also, the company’s shares have fared better than its peers like Ameriprise Financial, Inc. (AMP - Free Report) and Federated Hermes (FHI - Free Report) . In the past six months, Ameriprise Financial and Federated Hermes shares have gained 21.5% and 12.8%, respectively.

6-Month Price Performance

Image Source: Zacks Investment Research

Does ARES stock have more upside left despite recent price strength? Let us find out by looking at its fundamentals and growth prospects.

Key Factors Supporting Ares ManagementStrong AUM growth: Ares Management’s expanding assets under management (AUM) continues to strengthen its recurring fee base and support long-term revenue growth. Total AUM rose 17% year over year to $671.3 billion as of June 30, 2026, while fee-paying AUM increased 17% to $409.9 billion. This builds on a 26.9% AUM compound annual growth rate (CAGR) during 2019-2025 and reflects sustained demand for private credit, growing fundraising through the wealth management channel, and higher insurance-related allocations. With investor interest in private credit, real assets, and secondaries remaining strong, Ares Management’s $170 billion of available capital provides significant capacity for further investment and fundraising. Continued capital deployment and fundraising should support additional growth in AUM and fee-paying AUM.

AUM Growth Trend

Image Source: Ares Management

Organic Expansion: Ares Management’s growing fee-paying asset base continues to provide a strong foundation for organic revenue and earnings growth. Revenues increased at a 21.2% CAGR during 2019-2025, supported by sustained growth in management and performance fees. This momentum continued in the first half of 2026, with the company benefiting from continued expansion across its investment platforms as well as contributions from the GCP International acquisition. Management expects organic fee-related earnings (FRE) to grow 16-20% or more annually and realized income to increase more than 20% annually over the medium term. Continued fundraising, capital deployment and scaling of private credit and real assets strategies should support fee-paying AUM growth and provide further upside to recurring management fee revenues.

Strategic Acquisitions: Ares Management’s strategic acquisitions continue to strengthen its investment capabilities, diversify its product offerings and expand its addressable market. The February 2026 acquisition of BlueCove enhanced Ares Management's systematic fixed-income capabilities, while the GCP International acquisition expanded its real assets and digital infrastructure platform. Earlier acquisitions, including Landmark Partners, Black Creek Group and SSG Capital Holdings, added scale in secondaries, U.S. real estate and Asian private credit.

By adding complementary capabilities and broadening distribution channels, these transactions enhance Ares Management’s ability to capture growing investor demand across alternative asset classes while creating additional opportunities for AUM, fee-paying assets and long-term revenue growth.

Shareholder Returns: Ares Management’s strong earnings and cash generation support continued shareholder returns through dividends and potential share repurchases. The company declared a second-quarter 2026 dividend of $1.35 per share, more than 20% higher than the year-ago level, while management targets long-term annual dividend growth of more than 20%. Additionally, the board renewed its $750-million Class A share repurchase authorization through March 2027.

Although no shares were repurchased in the first half of 2026, the authorization provides flexibility to return excess capital to shareholders while maintaining capacity to fund growth initiatives. The Zacks Consensus Estimate for earnings is pegged at $5.94 per share for 2026 and $7.34 per share for 2027, indicating year-over-year growth of 24.8% and 23.5%, respectively, supporting the company’s ability to sustain and grow shareholder distributions.

Earnings Estimate

Image Source: Zacks Investment Research

Ares Management Near-Term HeadwindsAres Management’s rising operating expenses and elevated debt levels could weigh on near-term financial performance and financial flexibility. Total expenses increased at a 21.5% CAGR during 2019-2025, with the upward trend continuing in the first half of 2026, driven primarily by higher compensation and benefits, investments in fundraising and platform expansion, and acquisition and integration costs related to GCP International and BlueCove.

At the same time, corporate debt obligations increased to $4.58 billion as of June 30, 2026, from $3.94 billion at the end of 2025, while cash and cash equivalents were $557.1 million. The company also had $1.62 billion drawn on its revolving credit facility, with $885 million remaining available. Continued spending on platform expansion and integration, coupled with elevated debt obligations, could put pressure on near-term profitability and liquidity, particularly if economic conditions deteriorate.

Ares Management Valuation AnalysisIn terms of its valuation, Ares Management stock is currently trading at a trailing 12-month price-to-earnings (P/E) ratio of 27.11X, compared with the industry average of 17.64X. This indicates that ARES is currently trading at a premium to its industry.

Price-to-Earnings TTM

Image Source: Zacks Investment Research

Ares Management also trades at a premium compared with Ameriprise Financial and Federated Hermes. At present, Ameriprise Financial and Federated Hermes trade at a trailing 12-month P/E of 13.01X and 11.6X, respectively.

Final Thoughts in ARESDespite Ares Management’s robust AUM growth, expanding fee-paying asset base and continued strategic progress across its core investment platforms, the stock’s current risk-reward profile appears balanced.

The company continues to benefit from healthy fundraising, strong capital deployment, and solid earnings momentum, which should support long-term revenue growth and shareholder returns. However, elevated operating expenses and acquisition-related costs remain key concerns. In addition, rising corporate debt and greater utilization of its revolving credit facility could constrain financial flexibility.

Continued investments in platform expansion may also weigh on near-term profitability, particularly if AUM growth slows, fundraising conditions soften, or expense growth remains elevated. Moreover, the stock’s premium valuation leaves limited room for execution missteps and warrants a cautious stance at current levels.

Given these factors, prospective investors may prefer to wait for a more attractive entry point.

Ares Management currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

, /PRNewswire/ -- Ares Management Corporation announced today that its Co-Founder and Chief Executive Officer, Michael Arougheti, is scheduled to present at the Barclays Global Financial Services Conference on Wednesday, September 16, 2026 at 9:00am ET.

A live audio webcast of the presentation will be available in the Investor Resources section of the Company's website at www.ares.com. For those unable to listen to the live audio webcast, a replay will be available on the Company's website shortly after the event.

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2026, Ares Management Corporation's global platform had over $671 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.ares.com.

Investor Relations Contacts

Greg Mason
[email protected]
(800) 340-6597

Carl Drake
[email protected]
(800) 340-6597

SOURCE Ares Management Corporation

NEW YORK & TOKYO--(BUSINESS WIRE)--Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced today the final close of Japan Logistics Development Partners V LP (“JDP V” or the “Fund”), the latest vintage in its Japan-focused logistics real estate development fund series. Raising ¥612 billion (approximately US$4 billion1), including LP equity commitments and GP commitment, JDP V closed at its hard cap and is nearly 50% larger than its predecess.

, /PRNewswire/ -- Ares Dynamic Credit Allocation Fund, Inc. ("ARDC" or the "Fund") (NYSE: ARDC) announced today the declaration of its distribution for the month of August 2026 of $0.1125 per common share, payable as noted below.

The following dates apply to the declared distribution:

Ex-Date: August 21, 2026
Record Date: August 21, 2026
Payable Date: August 31, 2026
Per Share Amount: $0.1125

Based on the Fund's current share price of $12.48 (as of its close on August 10, 2026), the distribution represents an annualized distribution rate of approximately 10.82% (calculated by annualizing the distribution amount and dividing it by the current price). Information regarding the distribution rate is included for informational purposes only and is not necessarily indicative of future results, the achievement of which cannot be assured. The distribution rate should not be considered the yield or total return on an investment in the Fund.

The timing and amount of future distributions, if any, are at the discretion of the Fund. As required by Section 19(a) of the Investment Company Act of 1940, a notice will be distributed to the Fund's stockholders in the event that a portion of a monthly distribution is derived from sources other than undistributed net investment income, such as from short-term capital gain, long-term capital gain, or return of capital. Such notices will also be posted on the Fund's website at www.arespublicfunds.com.  

The amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment performance during the remainder of its fiscal year and may be subject to change based on tax regulations. The final determination of the source of these distributions will be made after the Fund's fiscal year end. If necessary, the Fund may elect to pay an adjusting distribution in December that includes any additional income and net realized capital gains in excess of the monthly distributions for that year to satisfy the minimum distribution requirements of the Internal Revenue Code. In January or February of each year, investors will be sent a Form 1099‑DIV for the previous calendar year that will define how to report these distributions for federal income tax purposes.

This press release is not intended to, and does not constitute, an offer to purchase or sell shares of ARDC.

About Ares Dynamic Credit Allocation Fund, Inc.
Ares Dynamic Credit Allocation Fund, Inc. ("ARDC") is a closed-end management company that is externally managed by Ares Capital Management II LLC, a subsidiary of Ares Management Corporation. ARDC seeks to provide an attractive level of total return primarily through current income and, secondarily, through capital appreciation.  ARDC invests in a broad, dynamically-managed portfolio of credit investments. There can be no assurance that ARDC will achieve its investment objective. ARDC's net asset value may be accessed through its NASDAQ ticker symbol, XADCX. Additional information is available at www.arespublicfunds.com. 

Forward-Looking Statements
Statements included herein may constitute "forward-looking statements" within the meaning of the U.S. securities laws, and may relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and others beyond the Fund's control. Ares Dynamic Credit Allocation Fund undertakes no duty to update any forward-looking statements made herein.

This document is not an offer to sell securities and is not soliciting an offer to buy securities in any jurisdiction where the offer or sale is not permitted. An investor should consider the Fund's investment objective, risks, charges and expenses carefully before investing.

Ares Dynamic Credit Allocation Fund is a closed-end fund, which does not engage in a continuous offering of its shares. Since its initial public offering, the Fund has traded on the New York Stock Exchange under the symbol ARDC. Investors wishing to purchase or sell shares may do so by placing orders through a broker dealer or other intermediary. 

Contact
Ares Dynamic Credit Allocation Fund, Inc.
John Stilmar
[email protected]
(888) 818-5298 
or 
Destra Capital Advisors LLC 
[email protected] 
(877) 855-3434

SOURCE Ares Dynamic Credit Allocation Fund

Ares Management Corp (NYSE:ARES) reported in-line earnings for the second quarter on Friday.

The company posted quarterly earnings of $1.29 per share which met the analyst consensus estimate. The company reported quarterly sales of $1.018 billion which missed the analyst consensus estimate of $1.200 billion.

Ares Management shares gained 5.5% to trade at $135.10 on Monday.

These analysts made changes to their price targets on Ares Management following earnings announcement.

Considering buying ARES stock? Here’s what analysts think:

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Release Date: July 31, 2026For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Ares Management

Key Takeaways Ares Management posted Q2 after-tax realized income per share of $1.29, matching estimates and rising Y/Y.Ares Management's total AUM grew to $671.3B and fee-paying AUM rose to $409.9B from a year ago.ARES raised $36.4B, generated $34.4B in net inflows and declared a $1.35 per share quarterly dividend. Ares Management Corporation’s (ARES - Free Report) second-quarter 2026 after-tax realized income per share of $1.29 met the Zacks Consensus Estimate. The bottom line increased from $1.03 in the prior-year quarter.

Results reflected growth from higher management fees and fee-related performance revenues. A higher AUM balance was another positive. However, the upside was partly offset by higher expenses. 

Net income attributable to the company was $150.6 million, up from $137.1 million in the year-ago quarter.

ARES’ Revenues & ExpensesThe company's total revenues of $1.26 billion missed the Zacks Consensus Estimate of $1.32 billion by 4.2%.  This compares to year-ago revenues of $1.05 billion.

Management fees rose to $1.02 billion from $900.6 million in the prior-year quarter. Carried interest allocation declined to $249.9 million from $323.9 million, while incentive fees increased to $42.8 million from $23.1 million. Administrative, transaction and other fees rose to $116.1 million from $91.6 million.

Total expenses increased 3.7% year over year to $1.18 billion from the year-ago quarter. The increase was primarily driven by higher compensation and benefits as well as general, administrative and other expenses.

Ares Management’s AUM BalanceAs of June 30, 2026, total assets under management (AUM) were $671.3 billion, up from $565.3 billion a year earlier. Fee-paying AUM increased to $409.9 billion from $343.9 billion in the prior-year period.

During the quarter, the company raised $36.4 billion in capital, generated $34.4 billion in net inflows and deployed $35.9 billion.

Ares Management’s Capital Distribution UpdateThe company announced a quarterly cash dividend of $1.35 per share of its Class A and non-voting common stock, payable Sept. 30, 2026, to shareholders of record as of Sept. 16, 2026.

Our Viewpoint on Ares ManagementAres Management continues to benefit from strong AUM growth across fee-paying and perpetual capital platforms, supported by steady capital inflows and strategic acquisitions such as BlueCove and GCP International. However, softer revenue relative to expectations and higher operating expenses are likely to remain near-term headwinds.

Currently, the company carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of ARES PeersInvesco’s (IVZ - Free Report) second-quarter 2026 adjusted earnings of 71 cents per share surpassed the Zacks Consensus Estimate of 67 cents. The bottom line surged 97.2% from the prior-year quarter.

IVZ’s results primarily benefited from an increase in adjusted revenues and substantial growth in the AUM balance. Record net long-term inflows also supported the quarterly results. However, an increase in adjusted expenses was a headwind.

SEI Investments Co.’s (SEIC - Free Report) second-quarter 2026 adjusted earnings per share of $1.66 surpassed the Zacks Consensus Estimate of $1.45. The bottom line reflected a rise of 38.3% from the prior-year quarter.

SEIC's results were aided by higher revenues and a rise in AUM. However, higher expenses acted as a spoilsport.

Ares Management NYSE: ARES reported second-quarter results marked by record fundraising, higher fee-paying assets under management and double-digit growth in fee-related earnings and realized income, as the alternative investment manager expanded activity across credit, real assets, secondaries and wealth products.

, /PRNewswire/ -- Ares Management Corporation (NYSE:ARES) today reported its financial results for its second quarter ended June 30, 2026.

GAAP net income attributable to Ares Management Corporation was $150.6 million for the quarter ended June 30, 2026. On a basic and diluted basis, net income attributable to Ares Management Corporation per share of Class A and non-voting common stock was $0.49 for the quarter ended June 30, 2026.

After-tax realized income was $467.6 million for the quarter ended June 30, 2026. After-tax realized income per share of Class A common stock was $1.29 for the quarter ended June 30, 2026. Fee related earnings were $491.1 million for the quarter ended June 30, 2026.

"We generated strong second-quarter results, including another record quarter of fundraising with more than $36 billion of inflows as our clients continue to reward us due to our strong and consistent fund performance across our strategies," said Michael Arougheti, Chief Executive Officer of Ares. "Our diverse global origination platform enabled us to remain active investing in attractive opportunities across the platform in a slower transaction environment and we are now seeing a meaningful pickup in our firmwide investment pipeline."

"We continue to translate the scale and diversification of our platform into strong financial performance with many of our key financial metrics growing more than 20% year over year and we remain on track to achieve our financial goals for the year," said Jarrod Phillips, Chief Financial Officer of Ares. "We have a record $170 billion of dry powder, which positions us well to execute on our largest ever forward investment pipeline and support continued earnings growth."

Common Stock Dividend

Ares declared a quarterly dividend of $1.35 per share of its Class A and non-voting common stock, payable on September 30, 2026 to its Class A and non-voting common stockholders of record at the close of business on September 16, 2026.

Preferred Stock Dividend

Ares declared a quarterly dividend of $0.84375 per share of its 6.75% Series B mandatory convertible preferred stock, payable on October 1, 2026 to its preferred stockholders of record at the close of business on September 15, 2026.

Dividend Reinvestment Program

Ares has a Dividend Reinvestment Program for its Class A common stockholders that will be effective for the quarterly dividend on September 30, 2026. Equiniti Trust Company is engaged to administer the plan on behalf of Ares. Additional information can be located on the Investor Resources section of our website.

Additional Information

Ares issued a full detailed presentation of its second quarter 2026 results, which can be viewed at www.ares.com on the Investor Resources section of our home page under Events and Presentations. The presentation is titled "Second Quarter 2026 Earnings Presentation."

Conference Call and Webcast Information

Ares will host a conference call on July 31, 2026 at 9:00 a.m. (Eastern Time) to discuss second quarter results. All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of our website at http://www.ares.com. Please visit the website to test your connection before the webcast. Domestic callers can access the conference call by dialing +1 (800) 267-6316. International callers can access the conference call by dialing +1 (203) 518-9783. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected and to reference the conference ID ARESQ226. For interested parties, an archived replay of the call will be available through August 31, 2026 to domestic callers by dialing +1 (800) 839-5676 and to international callers by dialing +1 (402) 220-2565. An archived replay will also be available through August 31, 2026 on a webcast link located on the Home page of the Investor Resources section of our website.

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2026, Ares Management Corporation's global platform had over $671 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.ares.com.

Forward-Looking Statements

Statements included herein contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which reflect our current views with respect to, among other things, future events, operations and financial performance. You can identify these forward-looking statements by the use of forward-looking words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "predicts," "intends," "plans," "estimates," "anticipates," "foresees" or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business prospects, growth strategy and liquidity. Actual results may vary materially from those indicated in these forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. Ares Management Corporation does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

Nothing in this press release constitutes an offer to sell or solicitation of an offer to buy any securities of Ares or an investment fund managed by Ares or its affiliates.

Investor Relations Contacts

SOURCE Ares Management Corporation

Approximately $8.2 Billion in New Commitments Closed in the Second Quarter and approximately $52.3 Billion Closed in the 12 Months Ended June 30, 2026

, /PRNewswire/ -- Ares Management Corporation (NYSE: ARES) announced today that Ares Credit funds (collectively "Ares") closed U.S. direct lending commitments of approximately $8.2 billion across 69 transactions during the second quarter of 2026 and approximately $52.3 billion across 347 transactions in the 12 months ended June 30, 2026. Below is a description of selected transactions that Ares closed during the second quarter of 2026.

AeriTek / Mill Point Capital
Ares served as administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Mill Point Capital-backed AeriTek's acquisition of National Refrigeration & A/C Products ("NRAC"). AeriTek is a leading international manufacturer of commercial refrigeration and foodservice equipment.

Atwell / Advent International
Ares served as administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Advent International's acquisition of Atwell. Atwell is a scaled, full-service engineering, consulting and construction management firm operating within the power & energy, residential and commercial development, and digital infrastructure segments.

Firebird Music / Raine Group
Ares supported Raine Group-backed Firebird Music in its continued growth plan. Firebird Music is a next-generation music company that integrates artist management, recorded music, expanded rights & brands, and music IP acquisition into a holistic, artist-centered ecosystem.

Frontline Road Safety Holdings / Bain Capital
Ares served as a lead arranger and bookrunner for a senior secured credit facility to support Bain Capital's continued growth plans for Frontline Road Safety Holdings. Frontline Road Safety Holdings is a leading national provider of pavement marking services to roadways and airports across the U.S.

Jiffy Lube / Monomoy Capital Partners
Ares served as a joint lead arranger for a senior secured credit facility to support Monomoy Capital Partners' acquisition of Jiffy Lube International, Inc. Jiffy Lube is the leading quick lube and automotive service franchisor in North America, serving approximately 19 million customers annually through more than 2,000 service centers across the country.

Mai Capital Management / Carlyle
Ares served as a lead arranger and bookrunner for a senior secured credit facility to support MAI Capital Management's continued M&A strategy following its acquisition by Carlyle. MAI Capital Management is a provider of financial planning, investment advisory, investment management, family office administration, and advisory services.

Precinmac / Centerbridge Partners
Ares served as administrative agent, joint lead arranger, and joint bookrunner for an incremental commitment to Precinmac's senior secured credit facility to support the company's continued growth. Precinmac is a leading manufacturer of high-complexity precision components, serving aerospace, defense, space, semiconductor, and power generation customers.

Relation Insurance / BayPine LP
Ares served as a joint lead arranger and joint bookrunner for a senior secured credit facility to support BayPine's acquisition of Relation Insurance. Relation Insurance is a leading insurance brokerage platform providing commercial lines, personal lines, and employee benefits solutions to clients across a diverse range of industries, including construction, transportation, agriculture, entertainment, healthcare, manufacturing, hospitality, and real estate.

Sunvair Aerospace Group / Greenbriar Equity Group
Ares served as administrative agent, lead arranger and bookrunner for a senior secured credit facility to support Greenbriar Equity Group's continued growth plans for Sunvair Aerospace Group. Sunvair Aerospace Group is a global provider of aircraft component maintenance, repair, and overhaul (MRO) services, offering a broad range of engineered solutions across accessory component repair and landing gear overhaul.

Valcourt Group / Littlejohn & Co. ("Littlejohn")
Ares served as administrative agent, lead arranger, and bookrunner for a senior secured credit facility to support Littlejohn's continued growth plans for Valcourt Group ("Valcourt"). Valcourt is a leading provider of building envelope maintenance and restoration services for mid- and high-rise properties.

About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2026, Ares Management Corporation's global platform had over $671 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.ares.com.

Investor Relations:
[email protected]

Media:
[email protected]

SOURCE Ares Management Corporation

DIVIDEND DECLARATIONS

, /PRNewswire/ -- Ares Capital Corporation ("Ares Capital") (NASDAQ: ARCC) announced that its Board of Directors has declared a third quarter 2026 dividend of $0.48 per share. The third quarter 2026 dividend is payable on September 30, 2026 to stockholders of record as of September 15, 2026.

JUNE 30, 2026 FINANCIAL RESULTS

Ares Capital also announced financial results for its second quarter ended June 30, 2026.

OPERATING RESULTS

Q2-26(3)

Q2-25(3)

(dollar amounts in millions, except per share data)

Total
Amount

Per Share

Total
Amount

Per Share

GAAP net income per share(1)

$   0.24

$   0.52

Core EPS(2)

$   0.47

$   0.50

Dividends declared and payable

$   0.48

$   0.48

Net investment income(1)

$   359

$   0.50

$   342

$   0.49

Net realized gains (losses)(1)

$      (5)

$  (0.01)

$     34

$   0.05

Net unrealized losses(1)

$  (183)

$  (0.25)

$    (15)

$  (0.02)

GAAP net income(1)

$   171

$   0.24

$   361

$   0.52

As of

(dollar amounts in millions, except per share data)

June 30, 2026

December 31, 2025

Portfolio investments at fair value

$           29,349

$          29,485

Total assets

$           30,498

$          31,235

Stockholders' equity

$           13,891

$          14,318

Net asset value per share

$             19.35

$            19.94

Debt/equity ratio

1.15x

1.12x

Debt/equity ratio, net of available cash(4)

1.12x

1.08x

(1)

All per share amounts and weighted average shares outstanding are basic and diluted. The basic and diluted weighted average shares outstanding for the three months ended June 30, 2026 and 2025 were approximately 718 million and 695 million, respectively.

(2)

Core EPS is a non-GAAP financial measure. Core EPS is the net increase (decrease) in stockholders' equity resulting from operations, and excludes net realized and unrealized gains and losses, any capital gains incentive fee attributable to such net realized and unrealized gains and losses and any income taxes (including excise taxes) related to such net realized gains and losses, divided by the basic weighted average shares outstanding for the relevant period. GAAP net income (loss) per share is the most directly comparable GAAP financial measure. Ares Capital believes that Core EPS provides useful information to investors regarding financial performance because it is one method Ares Capital uses to measure its financial condition and results of operations. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. Reconciliations of GAAP net income, the most directly comparable GAAP financial measure, to Core EPS are set forth in Schedule 1 hereto.

(3)

Net income can vary substantially from period to period due to various factors, including the level of new investment commitments, the recognition of realized gains and losses and unrealized appreciation and depreciation. As a result, quarterly comparisons of net income may not be meaningful.

(4)

Computed as total principal debt outstanding less available cash divided by stockholders' equity. Available cash excludes restricted cash as well as cash held for uses specifically designated for paying interest and expenses on certain debt.

"We reported solid second quarter results, supported by consistent Core Earnings, healthy portfolio performance and historically low levels of non-accruing loans and problem assets," said Kort Schnabel, Chief Executive Officer of Ares Capital. "In the slower transaction environment of the second quarter, our scale, stable capital base and longstanding borrower relationships enabled us to capture enhanced economics in attractive credits while remaining highly selective. Given our market leadership and competitive advantages, we remain well positioned to continue to generate attractive long-term shareholder returns, anchored by 17 years of stable or increasing regular quarterly dividends."

"We continued to enhance our balance sheet during the second quarter by raising approximately $1.2 billion of additional financing, including the upsizing and extension of two of our bank-led revolving credit facilities, while improving the economics of our largest revolving credit facility," said Scott Lem, Chief Financial Officer of Ares Capital. "During the quarter, we also launched the first commercial paper program in the BDC sector, establishing access to a lower-cost source of capital while preserving the durability and flexibility that have long differentiated ARCC. We ended the quarter once again in a position of strength with approximately $6.0 billion of available liquidity (after giving effect to the repayment of our unsecured notes that matured in July), modest leverage and no meaningful near-term debt maturities."

PORTFOLIO AND INVESTMENT ACTIVITY

(dollar amounts in millions)

Q2-26

Q2-25

Portfolio Activity During the Period:

Gross commitments

$        2,592

$        2,573

Exits of commitments

$        2,915

$        1,963

Portfolio Information:

As of

June 30, 2026

December 31, 2025

Portfolio investments at fair value

$       29,349

$       29,485

Fair value of accruing debt and other income producing securities(5)

$       26,262

$       26,510

Number of portfolio company investments

619

603

Percentage of floating rate securities at fair value(6)

71 %

72 %

Weighted average yields on debt and other income producing securities(7):

At amortized cost

10.3 %

10.3 %

At fair value

10.5 %

10.3 %

Weighted average yields on total investments(8):

At amortized cost

9.3 %

9.4 %

At fair value

9.4 %

9.3 %

Asset class percentage at fair value:

First lien senior secured loans

59 %

61 %

Second lien senior secured loans

4 %

5 %

Subordinated certificates of the SDLP

4 %

4 %

Senior subordinated loans

6 %

5 %

Preferred equity

8 %

9 %

Ivy Hill Asset Management, L.P.(9)

10 %

8 %

Other equity

9 %

8 %

(5)

Includes the fair value of Ares Capital's equity investment in Ivy Hill Asset Management, L.P. ("IHAM").

(6)

Includes Ares Capital's investment in the subordinated certificates of the SDLP (as defined below).

(7)

Weighted average yields on debt and other income producing securities are computed as (a) the annual stated interest rate or yield earned plus the net annual amortization of original issue discount and market discount or premium earned on accruing debt and other income producing securities (including the annualized amount of the regular dividend received by Ares Capital related to its equity investment in IHAM during the most recent quarter end), divided by (b) the total accruing debt and other income producing securities at amortized cost or at fair value (including the amortized cost or fair value of Ares Capital's equity investment in IHAM as applicable), as applicable.

(8)

Weighted average yields on total investments are computed as (a) the annual stated interest rate or yield earned plus the net annual amortization of original issue discount and market discount or premium earned on accruing debt and other income producing securities (including the annualized amount of the regular dividend received by Ares Capital related to its equity investment in IHAM during the most recent quarter end), divided by (b) total investments at amortized cost or at fair value, as applicable.

(9)

Includes Ares Capital's subordinated loan and equity investments in IHAM, as applicable.

In the second quarter of 2026, Ares Capital made new investment commitments of approximately $2.6 billion, of which approximately $2.2 billion were funded. New investment commitments were made to 14 new portfolio companies, 41 existing portfolio companies and 3 additional existing portfolio companies purchased from the Senior Direct Lending Program (the "SDLP"), through which Ares Capital co-invests with Varagon Capital Partners, and its clients, to fund first lien senior secured loans. As of June 30, 2026, 273 separate private equity sponsors were represented in Ares Capital's portfolio. Of the approximately $2.6 billion in new commitments made during the second quarter of 2026, 68% were in first lien senior secured loans, 2% were in subordinated certificates of the SDLP, 4% were in senior subordinated loans, 21% were in Ares Capital's subordinated loan to IHAM, 2% were in preferred equity and 3% were in other equity. Of the approximately $2.6 billion in new commitments, 94% were in floating rate debt securities, of which 76% contained interest rate floors and 2% were in the subordinated certificates of the SDLP. The weighted average yield of debt and other income producing securities funded during the period at amortized cost was 9.4% and the weighted average yield on total investments funded during the period at amortized cost was 9.1%. Ares Capital may seek to sell all or a portion of these new investment commitments, although there can be no assurance that Ares Capital will be able to do so. Also in the second quarter of 2026, Ares Capital funded approximately $758 million related to previously existing unfunded revolving and delayed draw loan commitments.

In the second quarter of 2026, Ares Capital exited approximately $2.9 billion of investment commitments, including approximately $1.1 billion of loans sold to IHAM or certain vehicles managed by IHAM and approximately $361 million of loans sold to the SDLP. Of the approximately $2.9 billion of exited investment commitments, 69% were first lien senior secured loans, 4% were second lien senior secured loans, 1% were subordinated certificates of the SDLP, 7% were senior subordinated loans, 13% were Ares Capital's subordinated loan to IHAM, 5% were preferred equity and 1% were other equity. Of the approximately $2.9 billion of exited investment commitments, 88% were floating rate, 9% were fixed rate, 1% were non-income producing and 2% were on non-accrual status.

As of June 30, 2026 and December 31, 2025, the weighted average grade of the portfolio at fair value was 3.1 and 3.1, respectively, and loans on non-accrual status represented 2.4% of the total investments at amortized cost (or 1.4% at fair value) and 1.8% at amortized cost (or 1.2% at fair value), respectively. For more information on Ares Capital's portfolio investment grades and loans on non-accrual status, see "Part I—Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations—Portfolio and Investment Activity" in Ares Capital's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, filed with the Securities and Exchange Commission ("SEC") on July 29, 2026.

LIQUIDITY AND CAPITAL RESOURCES

As of June 30, 2026, Ares Capital had $383 million in cash and cash equivalents and $15.9 billion in total aggregate principal amount of debt outstanding ($15.8 billion at carrying value). Subject to borrowing base and other restrictions, Ares Capital had approximately $6.7 billion available for additional borrowings under its existing credit facilities as of June 30, 2026.

In May 2026, Ares Capital issued $800 million in aggregate principal amount of unsecured notes, which bear interest at a rate of 5.550% per annum and mature on January 15, 2030 (the "January 2030 Notes"). The January 2030 Notes pay interest semi-annually and all principal is due upon maturity. The January 2030 Notes may be redeemed in whole or in part at any time at Ares Capital's option at a redemption price equal to par plus a "make whole" premium, if applicable, as determined pursuant to the indenture governing the January 2030 Notes, and any accrued and unpaid interest. The January 2030 Notes were issued at a discount to the principal amount. In connection with the January 2030 Notes, Ares Capital entered into an interest rate swap for a total notional amount of $800 million that matures on January 15, 2030. Under the interest rate swap, Ares Capital will receive a fixed interest rate of 5.550% and pay a floating interest rate of one-month SOFR plus 1.69950%.

In May 2026, Ares Capital amended and restated its senior secured credit facility (as amended and restated, the "A&R Credit Facility"). The amendment, among other things, (a) increased the total commitment and loans under the A&R Credit Facility from approximately $5.3 billion to approximately $5.5 billion, (b) amended the base interest rate charged on the USD loans under the A&R Credit Facility from (x) Term Secured Overnight Financing Rate ("SOFR") plus a credit spread adjustment of 0.10% plus an applicable spread to (y) Term SOFR in each case, (c) modified certain covenant restrictions, (d) extended the expiration of the revolving period for lenders electing to extend their revolving commitments in an amount equal to approximately $4.2 billion from April 15, 2029 to May 21, 2030, (e) extended the stated maturity date for lenders electing to extend their revolving commitments in an amount equal to approximately $4.2 billion from April 15, 2030 to May 21, 2031 and (f) extended the stated maturity date for lenders electing to extend their term loan commitments in an amount equal to approximately $1.0 billion from April 15, 2030 to May 21, 2031. Lenders who elected not to extend their revolving commitments in an amount equal to approximately $37.5 million and $131 million will remain subject to a revolving period expiration of April 12, 2028 and April 15, 2029, respectively, and a stated maturity date of April 12, 2029 and April 15, 2030, respectively. Lenders who elected not to extend the stated maturity of their term loan commitments in an amount equal to $40 million, $12.5 million and $70 million will remain subject to a maturity date of April 19, 2028, April 12, 2029 and April 15, 2030, respectively.

Subject to certain exceptions, the interest rate charged on the A&R Credit Facility is based on Term SOFR (or an alternate rate of interest for certain loans, commitments and/or other extensions of credit denominated in certain approved foreign currencies plus a spread adjustment, if applicable) plus an applicable spread of either 1.525%, 1.650% or 1.775% or an alternate base rate (as defined in the documents governing the A&R Credit Facility) plus an applicable spread of either 0.525%, 0.650% or 0.775%, in each case determined monthly based on the borrowing base.

In June 2026, Ares Capital established a commercial paper program (the "CP Program") under which it may issue short-term unsecured commercial paper notes. The CP Program provides for borrowings of up to $1.0 billion, with individual commercial paper notes having maturities of up to 397 days and interest rates determined at issuance. The CP Program is backed by Ares Capital's A&R Credit Facility, and Ares Capital expects to maintain available capacity under the A&R Credit Facility at least equal to the amount of any commercial paper notes outstanding.

In June 2026, Ares Capital and its wholly owned consolidated subsidiary, ARCC FB Funding LLC ("AFB"), entered into an agreement to amend AFB's revolving funding facility (the "BNP Funding Facility"). The amendment among other things increased the total commitment under the BNP Funding Facility from approximately $1.3 billion to approximately $1.5 billion and modified certain concentration limitations and the advance rate applicable to certain collateral loans. The other terms of the BNP Funding Facility remained materially unchanged.

SECOND QUARTER 2026 DIVIDENDS PAID

On April 28, 2026, Ares Capital announced that its Board of Directors declared a second quarter 2026 dividend of $0.48 per share for a total of approximately $345 million. The second quarter 2026 dividend was paid on June 30, 2026 to stockholders of record as of June 15, 2026.

RECENT DEVELOPMENTS

In July 2026, Ares Capital's wholly owned, consolidated subsidiary, Ares Direct Lending CLO 1 LLC ("ADL CLO 1"), completed a refinancing of its approximately $708.7 million term debt securitization (as refinanced, the "ADL CLO 1 Debt Securitization"). The ADL CLO 1 Debt Securitization is also known as a collateralized loan obligation and is an on-balance-sheet financing incurred by Ares Capital.

The notes offered in the ADL CLO 1 Debt Securitization that mature on July 25, 2038 (collectively, the "July 2038 CLO Notes") were issued by ADL CLO 1 pursuant to the amended and restated indenture and security agreement governing the July 2038 CLO Notes and include (i) $267.0 million of Class A-1-R Senior Floating Rate Notes, which bear interest at Term SOFR plus 1.46%; (ii) $24.5 million of Class A-2-R Senior Floating Rate Notes, which bear interest at Term SOFR plus 1.70%; (iii) $45.5 million of Class B-R Senior Floating Rate Notes, which bear interest at Term SOFR plus 1.90% and (iv) an additional $7.1 million of additional subordinated notes (in addition to the $225.6 million of existing subordinated notes issued by ADL CLO 1), which do not bear interest. Ares Capital retained all of the $7.1 million of subordinated notes, which are unsecured obligations of ADL CLO 1 and will accordingly be eliminated in consolidation. In addition, in connection with the ADL CLO 1 Debt Securitization, ADL CLO 1 incurred $139.0 million of Class A-1-LR term loans that mature on July 25, 2038, which bear interest at Term SOFR plus 1.46%, under a Class A-1-LR credit agreement. The proceeds from the ADL CLO 1 Debt Securitization were used in part to redeem all outstanding April 2036 CLO Secured Notes issued by ADL CLO 1.

In July 2026, Ares Capital repaid in full the $1,000 million aggregate principal amount outstanding of its unsecured notes upon their maturity, which bore interest at a rate of 2.150% per annum.

From July 1, 2026 through July 23, 2026, Ares Capital made new investment commitments of approximately $244 million, of which approximately $179 million were funded. Of the approximately $244 million in new investment commitments, 47% were in first lien senior secured loans, 17% were in second lien senior secured loans, 5% were in subordinated certificates of the SDLP, 19% were in senior subordinated loans, 11% were in Ares Capital's subordinated loan to IHAM and 1% were in other equity. Of the approximately $244 million in new investment commitments, 64% were floating rate, 35% were fixed rate and 1% were non-income producing. The weighted average yield of debt and other income producing securities funded during the period at amortized cost was 10.2% and the weighted average yield on total investments funded during the period at amortized cost was 10.0%. Ares Capital may seek to sell all or a portion of these new investment commitments, although there can be no assurance that it will be able to do so.

From July 1, 2026 through July 23, 2026, Ares Capital exited approximately $132 million of investment commitments. All of the approximately $132 million of exited investment commitments were first lien senior secured loans, all of which were floating rate. The weighted average yield of debt and other income producing securities exited or repaid during the period at amortized cost was 8.3% and the weighted average yield on total investments exited or repaid during the period at amortized cost was 8.3%. Of the approximately $132 million of investment commitments exited from July 1, 2026 through July 23, 2026, Ares Capital recognized total net realized losses of approximately $2 million.

In addition, as of July 23, 2026, Ares Capital had an investment backlog of approximately $1.5 billion. Investment backlog includes transactions approved by Ares Capital's investment adviser's U.S. direct lending investment committee and/or for which a formal mandate, letter of intent or a signed commitment have been issued, and therefore Ares Capital believes are likely to close. The consummation of any of the investments in this backlog depends upon, among other things, one or more of the following: Ares Capital's acceptance of the terms and structure of such investment and the execution and delivery of satisfactory transaction documentation. In addition, Ares Capital may sell all or a portion of these investments and certain of these investments may result in the repayment of existing investments. Ares Capital cannot assure you that it will make any of these investments or that Ares Capital will sell all or any portion of these investments.

WEBCAST / CONFERENCE CALL

Ares Capital will host a webcast/conference call on Wednesday, July 29, 2026 at 12:00 p.m. (Eastern Time) to discuss its quarter ended June 30, 2026 financial results. PLEASE VISIT ARES CAPITAL'S WEBCAST LINK LOCATED ON THE HOME PAGE OF THE INVESTOR RESOURCES SECTION OF ARES CAPITAL'S WEBSITE FOR A SLIDE PRESENTATION THAT COMPLEMENTS THE EARNINGS CONFERENCE CALL.

All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of Ares Capital's website at www.arescapitalcorp.com. Please visit the website to test your connection before the webcast. Domestic callers can access the conference call toll free by dialing +1 (800) 245-3047. International callers can access the conference call by dialing +1 (203) 518-9765. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected and to reference the conference ID ARCCQ226. For interested parties, an archived replay of the call will be available approximately one hour after the end of the call through August 29, 2026 at 5:00 p.m. (Eastern Time) to domestic callers by dialing toll free +1 (800) 839-3736 and to international callers by dialing +1 (402) 220-2978. An archived replay will also be available through August 29, 2026 on a webcast link located on the Home page of the Investor Resources section of Ares Capital's website.

ABOUT ARES CAPITAL CORPORATION

Founded in 2004, Ares Capital is a leading specialty finance company focused on providing direct loans and other investments in private middle market companies in the United States. Ares Capital's objective is to source and invest in high-quality borrowers that need capital to achieve their business goals, which oftentimes can lead to economic growth and employment. Ares Capital believes its loans and other investments in these companies can help generate attractive levels of current income and potential capital appreciation for investors. Ares Capital, through its investment manager, utilizes its extensive, direct origination capabilities and incumbent borrower relationships to source and underwrite predominantly senior secured loans but also subordinated debt and equity investments. Ares Capital has elected to be regulated as a business development company ("BDC") and was the largest publicly traded BDC by market capitalization as of June 30, 2026. Ares Capital is externally managed by a subsidiary of Ares Management Corporation (NYSE: ARES), a publicly traded, leading global alternative investment manager. For more information about Ares Capital, visit www.arescapitalcorp.com. 

FORWARD-LOOKING STATEMENTS

Statements included herein or on the webcast/conference call may constitute "forward-looking statements," which relate to future events or Ares Capital's future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results and conditions may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Ares Capital's filings with the SEC. Ares Capital undertakes no duty to update any forward-looking statements made herein or on the webcast/conference call.

INVESTOR RELATIONS CONTACTS

Ares Capital Corporation
John Stilmar or Carl Drake
(888) 818-5298
[email protected]

ARES CAPITAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET

(in millions, except per share data)

As of

June 30, 2026

December 31, 2025

(unaudited)

ASSETS

Total investments at fair value (amortized cost of $29,675 and $29,250, respectively)

$          29,349

$          29,485

Cash and cash equivalents

383

638

Restricted cash

241

286

Interest receivable

299

288

Receivable for open trades

50

317

Other assets

176

221

Total assets

$          30,498

$          31,235

LIABILITIES

Debt

$          15,773

$          15,991

Base management fee payable

110

111

Income based fee payable

84

89

Capital gains incentive fee payable

—

82

Interest and facility fees payable

199

193

Payable to participants

104

131

Interest rate swap collateral payable

97

155

Payable for open trades

2

5

Accounts payable and other liabilities

167

132

Deferred tax liabilities

71

28

Total liabilities

16,607

16,917

STOCKHOLDERS' EQUITY

Common stock, par value $0.001 per share, 1,000 common shares authorized; 718
common shares issued and outstanding

1

1

Capital in excess of par value

13,359

13,359

 Accumulated undistributed earnings

531

958

Total stockholders' equity

13,891

14,318

Total liabilities and stockholders' equity

$          30,498

$          31,235

NET ASSET VALUE PER SHARE

$            19.35

$            19.94

ARES CAPITAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF OPERATIONS

(in millions, except per share data)

(unaudited)

For the Three Months Ended June 30,

For the Six Months Ended June 30,

2026

2025

2026

2025

INVESTMENT INCOME

Interest income from investments

$              557

$              533

$           1,107

$           1,059

Capital structuring service fees

40

34

79

80

Dividend income

152

158

308

301

Other income

19

20

37

37

  Total investment income

768

745

1,531

1,477

EXPENSES

Interest and credit facility fees

214

188

427

374

Base management fee

110

104

221

206

Income based fee

84

86

168

171

Capital gains incentive fee

(21)

4

(82)

(21)

Administrative fees

4

4

8

8

Other general and administrative

10

9

18

17

  Total expenses

401

395

760

755

NET INVESTMENT INCOME BEFORE
INCOME TAXES

367

350

771

722

Income tax expense, including excise taxes

8

8

14

15

NET INVESTMENT INCOME

359

342

757

707

REALIZED AND UNREALIZED GAINS
(LOSSES) ON INVESTMENTS, FOREIGN
CURRENCY AND OTHER
TRANSACTIONS:

Net realized gains (losses) on investments

(7)

117

107

25

Net realized gains (losses) on foreign
currency and other transactions

2

(39)

(6)

(8)

Net income tax expense on net realized gains

—

(44)

—

(44)

Net realized gains (losses)

(5)

34

101

(27)

Net unrealized losses on investments

(180)

(40)

(596)

(37)

Net unrealized gains (losses) on foreign
currency and other transactions

8

(10)

38

(54)

Net change in deferred tax liabilities

(11)

35

(37)

13

Net unrealized losses

(183)

(15)

(595)

(78)

Net realized and unrealized gains (losses) on
investments, foreign currency and other
transactions

(188)

19

(494)

(105)

NET INCREASE IN STOCKHOLDERS'
EQUITY RESULTING FROM OPERATIONS

$              171

$              361

$              263

$              602

Basic and diluted net income per common
share

$             0.24

$             0.52

$             0.36

$             0.88

Basic and diluted weighted average shares of
common stock outstanding

718

695

718

686

SCHEDULE 1

Reconciliations of GAAP net income per share to Core EPS 

Reconciliations of GAAP net income per share, the most directly comparable GAAP financial measure, to Core EPS for the three and six months ended June 30, 2026 and 2025 are provided below.

For the Three Months Ended June 30,

For the Six Months Ended June 30,

2026

2025

2026

2025

(unaudited)

(unaudited)

(unaudited)

(unaudited)

GAAP net income per share(1)

$             0.24

$             0.52

$            0.36

$            0.88

Adjustments:

Net realized and unrealized (gains) losses(1)

0.26

(0.03)

0.69

0.15

Capital gains incentive fee attributable to net
realized and unrealized gains and losses(1)

(0.03)

0.01

(0.11)

(0.03)

Other income tax expense (including excise
taxes) related to net realized gains and losses(1)

—

—

—

—

Core EPS(2)

$             0.47

$             0.50

$            0.94

$            1.00

(1)

All per share amounts and weighted average shares outstanding are basic and diluted. The basic and diluted weighted average shares outstanding for the three and six months ended June 30, 2026 were approximately 718 million and 718 million, respectively, and approximately 695 million and 686 million, respectively, for the comparable periods in 2025.

(2)

Core EPS is a non-GAAP financial measure. Core EPS is the net increase (decrease) in stockholders' equity resulting from operations, and excludes net realized and unrealized gains and losses, any capital gains incentive fee attributable to such net realized and unrealized gains and losses and any income taxes (including excise taxes) related to such net realized gains and losses, divided by the basic weighted average shares outstanding for the relevant period. GAAP net income (loss) per share is the most directly comparable GAAP financial measure. Ares Capital believes that Core EPS provides useful information to investors regarding financial performance because it is one method Ares Capital uses to measure its financial condition and results of operations. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP.

SOURCE Ares Capital Corporation

Posted by Defense World Staff on Jul 27th, 2026

Bank of Nova Scotia grew its stake in shares of Ares Management Corporation (NYSE:ARES – Free Report) by 156.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,469 shares of the asset manager’s stock after acquiring an additional 48,438 shares during the quarter. Bank of Nova Scotia’s holdings in Ares Management were worth $8,671,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Osbon Capital Management LLC acquired a new stake in shares of Ares Management in the fourth quarter valued at about $32,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Ares Management during the 4th quarter valued at about $42,000. Elyxium Wealth LLC bought a new stake in shares of Ares Management during the fourth quarter valued at about $42,000. Summit Securities Group LLC bought a new stake in shares of Ares Management in the 4th quarter worth $49,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Ares Management in the first quarter worth approximately $55,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In Several brokerages have recently commented on ARES. Citizens Jmp decreased their target price on Ares Management from $190.00 to $160.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. TD Cowen upped their price objective on shares of Ares Management from $144.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ares Management in a report on Wednesday, April 29th. JPMorgan Chase & Co. decreased their price objective on Ares Management from $188.00 to $144.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. Finally, Citigroup reissued an “outperform” rating on shares of Ares Management in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $158.93.

View Our Latest Stock Analysis on Ares Management

Ares Management Trading Down 0.1% ARES opened at $126.37 on Monday. Ares Management Corporation has a twelve month low of $95.80 and a twelve month high of $195.26. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market cap of $41.68 billion, a PE ratio of 58.78, a price-to-earnings-growth ratio of 1.13 and a beta of 1.51. The firm’s fifty day moving average is $123.48 and its two-hundred day moving average is $125.30.

Ares Management (NYSE:ARES – Get Free Report) last released its quarterly earnings results on Friday, May 1st. The asset manager reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Ares Management had a return on equity of 22.14% and a net margin of 10.54%.The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business earned $1.09 EPS. Equities research analysts anticipate that Ares Management Corporation will post 5.98 EPS for the current year.

Ares Management Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Tuesday, June 16th. Ares Management’s dividend payout ratio is currently 251.16%.

Ares Management Profile (Free Report)

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.

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Posted by Defense World Staff on Jul 23rd, 2026

AR Asset Management Inc. purchased a new position in Ares Management Corporation (NYSE:ARES – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,500 shares of the asset manager’s stock, valued at approximately $709,000.

A number of other hedge funds also recently bought and sold shares of ARES. Vanguard Group Inc. lifted its position in shares of Ares Management by 20.2% during the 4th quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock valued at $4,210,530,000 after buying an additional 4,373,955 shares in the last quarter. Norges Bank purchased a new stake in Ares Management in the 4th quarter worth $396,165,000. Geode Capital Management LLC raised its position in Ares Management by 55.7% during the fourth quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager’s stock worth $883,716,000 after acquiring an additional 1,963,460 shares during the period. Massachusetts Financial Services Co. MA raised its position in Ares Management by 26.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,705,599 shares of the asset manager’s stock worth $922,196,000 after acquiring an additional 1,187,174 shares during the period. Finally, River Road Asset Management LLC raised its position in Ares Management by 40,652.1% during the fourth quarter. River Road Asset Management LLC now owns 807,300 shares of the asset manager’s stock worth $130,484,000 after acquiring an additional 805,319 shares during the period. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth Several analysts have recently issued reports on the stock. Morgan Stanley set a $160.00 target price on shares of Ares Management in a research report on Tuesday. Oppenheimer decreased their price target on shares of Ares Management from $146.00 to $140.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ares Management in a report on Wednesday, April 29th. JPMorgan Chase & Co. cut their price objective on Ares Management from $188.00 to $144.00 and set an “overweight” rating for the company in a research note on Tuesday, April 28th. Finally, The Goldman Sachs Group reduced their target price on Ares Management from $165.00 to $131.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.93.

Check Out Our Latest Research Report on ARES

Ares Management Stock Performance NYSE:ARES opened at $119.76 on Thursday. The company has a market cap of $39.50 billion, a P/E ratio of 55.70, a P/E/G ratio of 1.07 and a beta of 1.51. Ares Management Corporation has a twelve month low of $95.80 and a twelve month high of $195.26. The company’s 50-day moving average price is $123.57 and its 200-day moving average price is $125.94. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96.

Ares Management (NYSE:ARES – Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.08). Ares Management had a net margin of 10.54% and a return on equity of 22.14%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company posted $1.09 EPS. On average, sell-side analysts forecast that Ares Management Corporation will post 5.99 earnings per share for the current fiscal year.

Ares Management Dividend Announcement The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.5%. The ex-dividend date was Tuesday, June 16th. Ares Management’s payout ratio is presently 251.16%.

About Ares Management (Free Report)

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.

Read More Five stocks we like better than Ares Management Could Truth API Become Trump Media’s First Meaningful Revenue Driver? Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying Moog Is More Than a Missile Maker, and Wall Street Is Noticing A Boring Dividend Growth Strategy Becomes a Solid Defensive Play Want to see what other hedge funds are holding ARES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Management Corporation (NYSE:ARES – Free Report).

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Copeland Capital Management LLC acquired a new stake in Ares Management Corporation (NYSE:ARES – Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 87,149 shares of the asset manager’s stock, valued at approximately $9,508,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Ares Management by 20.2% in the fourth quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock valued at $4,210,530,000 after acquiring an additional 4,373,955 shares during the period. Norges Bank bought a new position in Ares Management during the fourth quarter worth about $396,165,000. Geode Capital Management LLC lifted its stake in Ares Management by 55.7% during the fourth quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager’s stock worth $883,716,000 after purchasing an additional 1,963,460 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Ares Management by 26.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,705,599 shares of the asset manager’s stock valued at $922,196,000 after purchasing an additional 1,187,174 shares in the last quarter. Finally, River Road Asset Management LLC boosted its holdings in Ares Management by 40,652.1% during the fourth quarter. River Road Asset Management LLC now owns 807,300 shares of the asset manager’s stock valued at $130,484,000 after purchasing an additional 805,319 shares in the last quarter. 50.03% of the stock is owned by institutional investors.

Ares Management Stock Up 0.0% NYSE ARES opened at $125.44 on Friday. The stock has a market capitalization of $41.38 billion, a P/E ratio of 58.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.51. Ares Management Corporation has a 52 week low of $95.80 and a 52 week high of $195.26. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a fifty day moving average of $123.76 and a 200-day moving average of $127.11.

Ares Management (NYSE:ARES – Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.08). The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.28 billion. Ares Management had a net margin of 10.54% and a return on equity of 22.14%. During the same period last year, the company earned $1.09 EPS. On average, equities research analysts forecast that Ares Management Corporation will post 5.99 EPS for the current year.

Ares Management Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, June 16th. Ares Management’s payout ratio is currently 251.16%.

Analyst Upgrades and Downgrades A number of equities analysts have recently issued reports on ARES shares. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a report on Tuesday, May 26th. Morgan Stanley lowered their target price on shares of Ares Management from $178.00 to $163.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ares Management in a report on Wednesday, April 29th. BMO Capital Markets raised their price objective on shares of Ares Management from $125.00 to $128.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Finally, Barclays dropped their target price on shares of Ares Management from $140.00 to $139.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $159.13.

View Our Latest Research Report on ARES

Ares Management Profile (Free Report)

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.

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Ares Management is rated a 'Buy,' offering an attractive entry for dividend growth and total return potential. ARES is demonstrating record fundraising, driven by strong institutional demand and expanding fee-paying assets. ARES benefits from diversified growth avenues—real estate, infrastructure, and international markets—beyond private credit, mitigating sector-specific risks.

, /PRNewswire/ -- Ares Dynamic Credit Allocation Fund, Inc. ("ARDC" or the "Fund") (NYSE: ARDC) announced today the declaration of its distribution for the month of July 2026 of $0.1125 per common share, payable as noted below.

The following dates apply to the declared distribution:

Ex-Date: July 20, 2026
Record Date: July 20, 2026
Payable Date: July 31, 2026
Per Share Amount: $0.1125

Based on the Fund's current share price of $12.82 (as of its close on July 9, 2026), the distribution represents an annualized distribution rate of approximately 10.53% (calculated by annualizing the distribution amount and dividing it by the current price). Information regarding the distribution rate is included for informational purposes only and is not necessarily indicative of future results, the achievement of which cannot be assured. The distribution rate should not be considered the yield or total return on an investment in the Fund.

The timing and amount of future distributions, if any, are at the discretion of the Fund. As required by Section 19(a) of the Investment Company Act of 1940, a notice will be distributed to the Fund's stockholders in the event that a portion of a monthly distribution is derived from sources other than undistributed net investment income, such as from short-term capital gain, long-term capital gain, or return of capital. Such notices will also be posted on the Fund's website at www.arespublicfunds.com. 

The amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment performance during the remainder of its fiscal year and may be subject to change based on tax regulations. The final determination of the source of these distributions will be made after the Fund's fiscal year end. If necessary, the Fund may elect to pay an adjusting distribution in December that includes any additional income and net realized capital gains in excess of the monthly distributions for that year to satisfy the minimum distribution requirements of the Internal Revenue Code. In January or February of each year, investors will be sent a Form 1099‑DIV for the previous calendar year that will define how to report these distributions for federal income tax purposes.

This press release is not intended to, and does not constitute, an offer to purchase or sell shares of ARDC.

About Ares Dynamic Credit Allocation Fund, Inc.
Ares Dynamic Credit Allocation Fund, Inc. ("ARDC") is a closed-end management company that is externally managed by Ares Capital Management II LLC, a subsidiary of Ares Management Corporation. ARDC seeks to provide an attractive level of total return primarily through current income and, secondarily, through capital appreciation.  ARDC invests in a broad, dynamically-managed portfolio of credit investments. There can be no assurance that ARDC will achieve its investment objective. ARDC's net asset value may be accessed through its NASDAQ ticker symbol, XADCX. Additional information is available at www.arespublicfunds.com.

Forward-Looking Statements
Statements included herein may constitute "forward-looking statements" within the meaning of the U.S. securities laws, and may relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and others beyond the Fund's control. Ares Dynamic Credit Allocation Fund undertakes no duty to update any forward-looking statements made herein.

This document is not an offer to sell securities and is not soliciting an offer to buy securities in any jurisdiction where the offer or sale is not permitted. An investor should consider the Fund's investment objective, risks, charges and expenses carefully before investing.

Ares Dynamic Credit Allocation Fund is a closed-end fund, which does not engage in a continuous offering of its shares. Since its initial public offering, the Fund has traded on the New York Stock Exchange under the symbol ARDC. Investors wishing to purchase or sell shares may do so by placing orders through a broker dealer or other intermediary.

Contact
Ares Dynamic Credit Allocation Fund, Inc.
John Stilmar
[email protected]
(888) 818-5298
or
Destra Capital Advisors LLC
[email protected]
(877) 855-3434

SOURCE Ares Dynamic Credit Allocation Fund

Ares Management is oversold as the market panicked about some risks in the asset management space. I see strong financial growth, solid inflows, and a growing AUM. I don't see AI as a risk for ARES, but as an opportunity given its upcoming digital infrastructure fund and years of experience on that front.

Director, Co-Founder and CEO, at Ares Management Michael Arougheti attends the Milken Conference 2025 in Beverly Hills, California, U.S., May 6, 2025. REUTERS/Mike Blake Purchase Licensing Rights, opens new tab

SummaryCompaniesMost withdrawal requests came from less than 1% of shareholder base, largely outside U.S.ASIF Q2 redemption requests jump to 14.4% from 11.6% in prior quarterRequests from U.S. private wealth ​investors accounted for just 2.4% of sharesJune 25 (Reuters) - Ares Management (ARES.N), opens new tab again capped withdrawals at its flagship private credit fund after redemption requests rose in the second quarter, according to a filing released Thursday.

Investors sought to pull 14.4% of shares from the $22.6 billion Ares ​Strategic Income Fund (ASIF) in the second quarter, up from 11.6% in the previous quarter. ​The fund limited withdrawals to 5% of shares, the customary threshold for ⁠such vehicles.

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Wealthy individuals have pulled money from non-traded private credit funds in recent months over ​concerns about lending standards and how software companies that borrowed heavily from direct lenders will navigate ​AI disruption.

Investors pulled a combined $12.9 billion from private credit funds for wealthy individuals in the first five months of 2026, according to investment bank Robert A. Stanger.

Most requests were concentrated among a small number of non-U.S. ​institutions and family offices, representing less than 1% of ASIF's more than 20,000 shareholders, the ​fund said. They accounted for nearly half of second-quarter requests.

Peer Apollo (APO.N), opens new tab has also recently flagged that withdrawal requests ‌at ⁠its $26 billion private credit fund moderated from U.S. and increased from offshore.

Nearly two-thirds of repurchase requests at ASIF were submitted by investors who had tendered in the prior quarter.

"Optically, not a great update; however, the devil is in the details, and we are quite encouraged by the ​finer disclosure," TD Cowen ​analyst Bill Katz ⁠said, noting that the pattern of repurchase requests does not suggest widespread angst, while repeat requesters indicate redemption pressures are not building.

US PRIVATE ​WEALTH CHANNELWithdrawal requests from U.S. private wealth investors, ASIF's largest shareholder segment, represented only ​2.4% of ⁠shares and declined 35% from the prior quarter.

The segment also accounted for nearly half of second-quarter inflows, ASIF said.

CEO Michael Arougheti said earlier this month that U.S. high-net-worth individuals were growing their alternatives ⁠exposure and ​not redeeming at the rate markets expected.

ASIF, launched in ​2022, said its Class I shares had generated an annualized total return of 10.27% since inception, representing a 187-basis-point ​premium to broadly syndicated bank loans.

Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Tasim Zahid

Our Standards: The Thomson Reuters Trust Principles., opens new tab

In this article

ARES

APO

Ares Management limited withdrawals from its Strategic Income Fund after investors sought to redeem 14.4% of shares, though the firm expects to clear its redemption backlog by year-end. (Lauren Justice/Bloomberg)

Requests to exit a large private-credit fund at Ares Management increased this quarter from the March level. The fund’s loans continue to perform well, however, and Ares hopes to work down its redemption backlog by year-end.

, /PRNewswire/ -- Foundry Commercial, on behalf of Hines and an Ares Real Estate fund ("Ares"), has announced the start of construction at Parkside Commerce Center, a new four-building, 809,141-square-foot Class-A industrial development located on Silicon Drive in Durham, North Carolina, directly adjacent to Research Triangle Park (RTP).

Parkside Commerce Center rendering The project represents one of the premier new industrial developments in the Raleigh-Durham ("RDU") market and is designed to serve a broad range of occupiers, including companies supporting the region's nationally recognized advanced manufacturing and biomanufacturing ecosystem, as well as traditional warehousing, distribution, and e-commerce users.

Strategically positioned with immediate access to I-40, I-540, Hwy 147 and the I-85 corridor, the development will be delivered in two phases.

Phase I, scheduled for delivery in Q4 2027, will include two rear load facilities totaling 521,548 square feet with 36-foot clear heights:

4360 Silicon Drive (Building 1) – 237,824 SF with 63 trailer stalls 4340 Silicon Drive (Building 2) – 283,724 SF with 63 trailer stalls Phase II will include:

4300 Silicon Drive (Building 3) – 172,289 SF 4320 Silicon Drive (Building 4) – 115,304 SF Both Phase II buildings will feature 32-foot clear heights.

"We're thrilled to partner with Hines and Ares as the marketing and leasing team to bring this best-in-class industrial development to market," said Jeff Stephens, SIOR, Partner at Foundry Commercial. "The RTP/I-40 submarket's Class A vacancy rate has remained near historic lows in recent years, and Parkside Commerce Center will provide much-needed options that offer a rare combination of premier location, functionality and scalability that align with the needs of occupiers across the RDU market."

Hines and Ares co-own the project. Foundry Commercial has been retained as the exclusive leasing team for the project.

For leasing information, please contact Jeff Stephens, SIOR at [email protected], Jackson Rives at [email protected] or Jordan Rives at [email protected].

About Foundry Commercial:
Foundry Commercial is a full-service commercial real estate services and investment company operating across office, industrial, retail, multi-family, healthcare, religious, and not-for-profit asset classes and clients. Focused on the Sun Belt markets, Foundry is sustained by more than 5,000 associates operating from 12 markets, providing leasing and management on more than 77 million square feet and approximately 5,400 seniors housing units, typically executing over $2 billion in leasing, tenant rep, and investment sale transactions annually. Foundry's development and investment platform is fully integrated with its services business and has developed or acquired over $7 billion in transaction volume alongside many of the best-known institutional investors in the country. For more information, visit www.foundrycommercial.com.

About Hines:
Hines is a leading global real estate investment manager. We own and operate $91.7 billion1 of assets across property types and on behalf of a diverse group of institutional and private wealth clients. Every day, our 4,600 employees in 30 countries draw on our 69-year history to build the world forward by investing in, developing, and managing some of the world's best real estate. To learn more, visit www.hines.com and follow @Hines on social media.

¹Includes both the global Hines organization and RIA AUM as of December 31, 2025.

About Ares Management Corporation:
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2026, Ares Management Corporation's global platform had over $644 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.ares.com.

SOURCE Foundry Commercial

Key Takeaways Ares Management posted 43.7% revenue growth in first-quarter 2026 from higher fee revenues.ARES reported a 26.9% AUM CAGR from 2019-2025, driven by private credit inflows.Ares Management expects fee-related earnings growth of 16-20% or more over the medium term. Ares Management Corporation’s (ARES - Free Report) assets under management (“AUM”) balance is steadily rising, driven by higher fee-related revenues, strong fundraising momentum and continued platform expansion. As a global alternative investment manager, Ares Management benefits from growing investor demand for private credit, real assets, secondaries and insurance-linked investment solutions.

As of March 31, 2026, ARES’ total AUM was $644.3 billion, up 18% from the prior-year period. Fee-paying AUM increased 19.2% year over year, while perpetual capital AUM jumped 39.1%. This is important because fee-paying AUM directly supports management fee revenues, while perpetual capital provides a more stable and long-duration earnings base. Over 2019-2025, the company’s AUM recorded a six-year compound annual growth rate (“CAGR”) of 26.9%, reflecting strong capital inflows into private credit strategies, higher fundraising through wealth management channels and increased allocations to insurance-related managed assets. 

The company’s organic growth profile also remains encouraging. Revenues witnessed a six-year CAGR of 21.2% through 2025, aided by higher management and performance fees from an expanding asset base. In the first quarter of 2026, revenues rose 43.7% year over year. Management continues to target 16-20% or more annual organic growth in fee-related earnings and more than 20% annual growth in realized income over the medium term, indicating confidence in the scalability of the business. 

Strategic acquisitions further strengthened Ares Management’s long-term growth prospects. The February 2026 acquisition of BlueCove expanded its systematic credit capabilities, while the 2025 GCP International deal enhanced its real assets and digital infrastructure platform. These transactions broaden ARES’ product offerings and improve its ability to capture global investor demand.

Current concerns in the private credit market could moderately slow Ares Management’s near-term AUM growth, as weaker investor sentiment and rising redemption requests weigh on fundraising momentum. Nevertheless, the long-term outlook for private credit remains favorable, with industry AUM expected to grow meaningfully as institutional investors continue shifting toward alternative assets. As a result, sustained AUM growth should remain a key driver of Ares Management’s earnings trajectory. Over the next three to five years, the company’s earnings are projected to grow 27.2%, well above the industry average of 5.9%.

AUM Performance of ARES’ PeersApollo Global Management’s (APO - Free Report) AUM witnessed a CAGR of 19.6% over the past three years (2022-2025), with the rising trend continuing in the first quarter of 2026. The increase in Apollo’s AUM is primarily driven by growth in its retirement services client assets, subscriptions across the platform and new financing facilities.

The acquisition of Bridge Investment Group Holding nearly doubled Apollo’s real estate AUM to more than $110 billion. By 2029, Apollo Global Management expects its total AUM to reach $1.5 trillion by scaling its private equity business.

Similarly, Blackstone Inc. (BX - Free Report) has been witnessing a rise in its AUM balance. Over the past five years (2020-2025), total AUM and fee-earning AUM have recorded CAGR of 15.6% and 14.4%, respectively. The total AUM rose 12% year over year in the first quarter of 2026. 

Blackstone’s robust AUM base supports its long-term earnings growth by providing a larger pool of fee-generating capital across its private equity, real estate, credit and infrastructure platforms.

ARES’ Price Performance & Zacks RankThe company’s shares have lost 19.5% in the past six months compared with the industry’s 6.5% decline. 

Image Source: Zacks Investment Research

Currently, Ares Management carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

NEW YORK, NY / ACCESS Newswire / May 28, 2026 / Ares Management Corporation announced today that its Co-President, Blair Jacobson, is scheduled to present at the Goldman Sachs European Financials Conference on Wednesday, June 3, 2026, at 3:30 AM ET.

A live audio webcast of the presentation will be available on the Investor Resources section of the Company's website at www.aresmgmt.com. For those unable to listen to the live audio webcast, a replay will be available on the Company's website shortly after the event.

About Ares Management Corporation

Ares Management Corporation (NYSE:ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2026, Ares Management Corporation's global platform had over $644 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

Investor Relations Contacts

Greg Mason
[email protected]
(800) 340-6597

Carl Drake
[email protected]
(800) 340-6597

SOURCE: Ares Management Corporation

Related Documents:

aresmanagementcorporationtopresentatthegseuropeanconference2026en

NEW YORK, NY / ACCESS Newswire / May 29, 2026 / Ares Management Corporation announced today that its Co-Founder and Chief Executive Officer, Michael Arougheti, is scheduled to present at the Morgan Stanley US Financials Conference on Wednesday, June 10, 2026, at 12:05pm ET.

A live audio webcast of the presentation will be available on the Investor Resources section of the Company's website at www.ares.com. For those unable to listen to the live audio webcast, a replay will be available on the Company's website shortly after the event.

About Ares Management Corporation

Ares Management Corporation (NYSE:ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2026, Ares Management Corporation's global platform had over $644 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.ares.com.

Investor Relations Contacts

Greg Mason
[email protected]
(800) 340-6597

Carl Drake
[email protected]
(800) 340-6597

SOURCE: Ares Management Corporation

Ares Management Corporation (ARES) Presents at Goldman Sachs 30th Annual European Financials Conference 2026 Transcript

Ares Management co-founder and CEO Michael Arougheti says the recent stress in the private credit market is tied to private equity. He speaks with Dani Burger at the Forbes Iconoclast Summit in New York.