Ares Management Corporation

Latest Results (28.08.2026):

Ares Management Corporation reported results for the quarter ended June 30, 2026 (second quarter 2026). For Q2 2026 the company recorded total revenues of $1,428,610 (amounts in thousands), net income of $312,965 and net income attributable to Ares Management Corporation of $150,635. Diluted and basic earnings per share for Class A and non‑voting common stock were $0.49 for the quarter. The six‑month results and balance sheet are included in the company’s Form 10‑Q for the period.

Revenue and fee mix

Total revenues for Q2 2026 were $1,428,610, up ~5.8% from $1,350,128 in Q2 2025. Management fees rose to $1,017,563 (+~13% YoY), while carried interest allocations declined to $249,914 (down ~23% YoY). Incentive fees increased to $42,753 (up ~85% YoY). Administrative, transaction and other fees were $116,092.

Expenses and compensation

Total operating expenses were $1,179,977 in Q2 2026 (vs. $1,137,578 a year earlier). Compensation and benefits were $688,660 and performance‑related compensation was $231,927 for the quarter. General, administrative and other expenses were $255,715.

Profitability and per‑share results

Income before taxes for Q2 2026 was $385,942, with net income of $312,965. Net income attributable to Ares Management Corporation was $150,635 for the quarter (vs. $137,062 in Q2 2025). After Series B preferred dividends declared ($25,312 in the quarter), net income attributable to Class A and non‑voting common stockholders was $125,323, producing basic/diluted EPS of $0.49 (Q2 2025 EPS: $0.46).

Balance sheet and cash flow highlights

Total assets were $29,631,399 as of June 30, 2026 (vs. $28,633,369 at year‑end 2025). Cash and cash equivalents at the parent were $557,094. Total liabilities were $21,003,486, which includes debt obligations of $4,577,159 and consolidated funds’ CLO loan obligations of $6,951,657. Net cash provided by operating activities for the six months ended June 30, 2026 was $55,070 (compared with $2,409,904 for the six months ended June 30, 2025), and dividends/distributions paid in the six‑month period totaled $1,036,513.

Acquisitions, goodwill and intangibles

The company completed the BlueCove acquisition (February 1, 2026) and recorded a bargain purchase gain of $37.3 million in the six‑month period. Intangible assets, net were $2,095,022 and goodwill totaled $3,464,289 as of June 30, 2026. Amortization of intangible assets was reported in general and administrative expense.

Non‑controlling interests and consolidated funds

Q2 2026 included net income attributable to non‑controlling interests in Consolidated Funds of $71,241. Consolidated Funds’ investments at fair value were $13,393,347 as of June 30, 2026; the company presents both consolidated and deconsolidated (segment/unconsolidated) views in the Form 10‑Q.

Distributions and capital items

Series B mandatory convertible preferred stock dividends declared were $25,312 for the quarter ($50,625 year‑to‑date). Six‑month financing activity included Credit Facility and Term Loan proceeds and significant contributions/distributions associated with consolidated funds. The company’s Form 10‑Q contains further detail on financing, off‑balance sheet commitments and liquidity.