Ares Management (ARES) Q1 2026 earnings summary

Executive summary

• Achieved GAAP net income of $142.6 million and EPS of $0.46 for Q1 2026, with after-tax realized income of $452.4 million and after-tax realized income per share of $1.24.

• Fee related earnings reached $464.4 million, up 26% year-over-year, and management fees grew 25% to $989.5 million.

• Total AUM rose 18% year-over-year to $644.3 billion as of March 31, 2026, with fee-paying AUM up 19%.

• Record fundraising of $30 billion in Q1, up over 45% year-over-year, with net inflows of $27.9 billion.

• Declared quarterly dividend of $1.35 per share for Class A and non-voting common stock, and $0.84375 per share for Series B preferred stock.

Financial highlights

• GAAP management fees: $989.5 million; unconsolidated management and other fees: $1,075.5 million.

• Fee related earnings margin: 42.4%; effective management fee rate: 0.98%.

• Realized income: $502.7 million, up 24% year-over-year.

• Available capital: $158.1 billion, up 11% year-over-year.

• Perpetual capital AUM: $215.3 billion, up 39% year-over-year.

Outlook and guidance

• Management expects another record year of fundraising, supported by a record investment pipeline and nearly $160 billion of available capital.

• Positioned to invest opportunistically and meet financial objectives for the year despite market volatility.