Ares Management Corporation
aresmgmt.comWhat Do They Do?
Offers investment funds and strategies across credit, real estate, private equity and infrastructure to institutional and retail investors.
10-K for FY2025, filed Feb 25, 2026Ares is a leading global alternative investment manager with $622.5 billion of assets under management and over 4,250 employees in over 55…View ↗
Credit: Our experienced team takes a value-oriented approach which, among other factors, considers industry and market analysis, technical…View ↗
The infrastructure strategy invests through both equity and debt in infrastructure assets and companies that provide essential services…View ↗
Secondaries: Our team invests in secondary markets across a range of alternative asset class strategies, including private equity, real…View ↗
How Do They Make Money?
Funds pay management fees based on committed capital, invested capital, net asset value or asset value while Ares provides advisory services. Ares also earns a performance-based allocation from funds after contractual return hurdles are met; it is realized when investments are sold profitably or investors receive back capital plus a preferred return.
10-K for FY2025, filed Feb 25, 2026Management fees are generally based on a defined percentage of capital commitments, invested capital, NAV or the fair value of assets…View ↗
In certain fund structures, carried interest is allocated to the Company based on cumulative fund performance to date, subject to the…View ↗
Carried interest is realized when an underlying investment is profitably disposed of, or upon the return of each limited partner’s capital…View ↗
-
10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by product or service ↗
$4.8B
-
10-K for FY2025, filed Feb 25, 2026
$4.8B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Management fees
Recurring
10-K for FY2025, filed Feb 25, 2026 |
66%
FY2022: 70%
|
Management fees, FY2025
$3.7B Sources
|
Recurring |
|
Carried interest
|
21%
FY2022: 15%
|
Carried interest, FY2025
$1.2B Sources
|
|
|
Incentive fees
|
6.5%
FY2022: 9.9%
|
Incentive fees, FY2025
$362.5M Sources
|
|
|
Principal investment income
|
0.9%
FY2022: 0.4%
|
Principal investment income, FY2025
$48.1M Sources
|
|
|
Administrative, transaction and other fees
|
6.4%
FY2022: 4.8%
|
Administrative, transaction and other fees, FY2025
$356.4M Sources
|
Who Are Their Customers?
Institutional investors maintain direct relationships with Ares; retail investors access its strategies through publicly traded funds, sub-advised accounts and wealth vehicles.
10-K for FY2025, filed Feb 25, 2026Ares is a leading global alternative investment manager with $622.5 billion of assets under management and over 4,250 employees in over 55…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 11 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 25, 2026
$527.4MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 7, 2026
$150.6MView ↗
- ▲ +10%
- vs $137.1M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
Growing. Revenue grew 2.1x in 4 years, from $2.3B in FY2021 to $4.8B in FY2025, about 20% a year.
Credit in secondaries
The latest description adds credit to the asset classes in which secondaries funds acquire interests; the older description lists private equity, real estate and infrastructure.
10-K for FY2022, filed Feb 24, 2023 10-K for FY2025, filed Feb 25, 2026Secondaries: The Secondaries Group was formed during the second quarter of 2021 in connection with the acquisition of Landmark Partners…View ↗
Secondaries: Our team invests in secondary markets across a range of alternative asset class strategies, including private equity, real…View ↗
Broader infrastructure capabilities
The latest description includes digital infrastructure development and operating expertise, and says an acquisition added logistics capabilities; the older description focuses on debt and equity investments in infrastructure assets and companies.
10-K for FY2022, filed Feb 24, 2023 10-K for FY2025, filed Feb 25, 2026The infrastructure strategy focuses on debt and equity in essential infrastructure assets and companies with stable cash flow profiles…View ↗
Loading...
