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Ares Management (ARES) investor relations material
Ares Management Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record quarterly fundraising of over $30.9 billion, with year-to-date capital raised surpassing $77 billion and trailing 12-month fundraising up 24% year-over-year to $105 billion.
Assets under management reached $596 billion as of September 30, 2025, up 28% year-over-year, with fee-paying AUM at $368 billion.
Management fees grew 28% year-over-year to $971.8 million, and fee-related earnings (FRE) increased 39% year-over-year to $471.2 million.
After-tax realized income per share rose 25% year-over-year to $1.19, with realized income totaling $456 million.
Declared a quarterly dividend of $1.12 per share for common stock and $0.84375 for Series B preferred stock, with plans for further increases.
Financial highlights
Gross deployment hit $41.7 billion, 55% higher than the previous quarter and 30% above the prior record.
Fee related performance revenues (FRPR) totaled $85.4 million, with strong growth expected in Q4 and into 2026.
Available capital stood at $150 billion at the end of Q3 2025, up 19% year-over-year.
Perpetual capital AUM reached $190.3 billion, a 53% increase from prior year.
Effective management fee rate was 1.00% with a Fee Related Earnings margin of 41.4%.
Outlook and guidance
Expect to meaningfully exceed last year’s $93 billion fundraising record, supported by strong investor demand and a robust investment pipeline.
Anticipate continued strong demand for institutional and wealth products, with new fund launches in special opportunities, real estate, and digital infrastructure.
FRE margins expected to expand in 2026 as GCP integration synergies are realized.
Projected $125 million in FRPR from the credit group in Q4, with 17% year-over-year growth.
Positioned for future earnings growth as significant available capital is deployed.
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