Ares Management Raises $30B in Q1; AUM Reaches $644B Despite Earnings Miss
Ares Management's Q1 fundraising hit a record $30 billion, lifting AUM 18% year-over-year to $644 billion as perpetual capital swelled 39% to $215.3 billion and uninvested capital reached $158.1 billion. After-tax realized income came in at $452.4 million ($1.24/share), missing consensus, while deployment hit $32.3 billion.
1. Q1 Fundraising and AUM Growth
Ares Management raised a record $30 billion in Q1 fundraising, boosting assets under management to $644.3 billion, an 18% increase year-over-year. Perpetual capital grew 39% to $215.3 billion, and uninvested capital climbed 11% to $158.1 billion.
2. Q1 Earnings and Dividend
After-tax realized income was $452.4 million, or $1.24 per share, below the $1.33 consensus, while fee-related earnings totaled $464.4 million. The board declared a quarterly dividend of $1.35 per share, payable June 30, 2026.
3. Capital Deployment
Capital deployment reached $32.3 billion in the quarter, with U.S. and European direct lending, real estate, and alternative credit strategies absorbing the largest share of investments.
4. Strategic Initiatives and Expansion
The firm is deploying over $100 billion in credit dry powder to capture market share, and is targeting a $900 billion Digital Infrastructure opportunity driven by cloud and AI demand. The acquisition of BlueCove added $5.5 billion in systematic fixed income assets to the platform.