Ares raises $31 billion on private credit, real assets fundraising strength
ARES•Ares Management raised $31 billion in the third quarter, including $11.2 billion for real assets and $15.2 billion for credit. Assets under management rose 16% to $690.6 billion, and after-tax realized income per share increased to $1.26 from $1.19 a year earlier.
1. Fundraising strength
Ares Management raised $31 billion in the third quarter, driven by private credit, real estate and infrastructure. More than half of inflows came from non-credit businesses; the real assets division raised $11.2 billion and the credit group raised $15.2 billion. CEO Michael Arougheti said the company expects another record fundraising year, with a strong fourth quarter.
2. Assets and earnings
Assets under management increased 16% to $690.6 billion in the three months ended September 30, while fee-related earnings rose 11% to $524.2 million. After-tax realized income per share of Class A common stock was $1.26, compared with $1.19 a year earlier.
3. Deployment and activity
Ares deployed $34.8 billion, driven by US and European direct lending, alternative credit, and infrastructure debt and equity strategies. Private credit deal activity remained slow amid subdued buyout activity and competition from broadly syndicated loans. Uninvested capital rose 16% to $173.8 billion as of September 30, and the company expects investing activity to pick up in the fourth quarter.
