Ares Management Corporation

https://www.aresmgmt.com/

Ares Management Corporation is a global alternative investment manager headquartered in Los Angeles, California. The firm's mission is to invest to help businesses flourish and create enduring value for all stakeholders, providing flexible capital solutions across various asset classes.

Ares manages complementary primary and secondary investment solutions across four primary investment groups: Credit, Private Equity, Real Estate, and Infrastructure. These groups enable the firm to invest across all levels of a company's capital structure, from senior debt to common equity. Ares serves a diverse client base, including institutional investors such as pension funds, sovereign wealth funds, insurance companies, and endowments, and is expanding its reach to sophisticated individual investors and family offices.

Under the leadership of CEO Michael Arougheti, Ares Management reported strong first-quarter 2026 results, with record fundraising of $30 billion, contributing to assets under management exceeding $644 billion as of March 31, 2026. Recent notable activities include the appointment of Peter Ogilvie as Chief Operating Officer and Head of Strategy in April 2026, and the acquisition of a 32.4% stake in the Rover Pipeline from Blackstone Energy Transition Partners. The company maintains a robust market position within the alternative asset management sector, characterized by its diversified platform and substantial scale.

Latest updates

Ares Reports Record Fundraising, AUM Growth Amidst Market Volatility

Event summary

  • Ares Management Corporation reported GAAP net income of $142.6 million for Q1 2026, with diluted EPS of $0.46.
  • The company achieved record first-quarter fundraising of $30 billion, a 45% increase year-over-year.
  • AUM and fee-paying AUM grew by 18% and 19% respectively, contributing to a 25% increase in management fees.
  • Ares declared a quarterly dividend of $1.35 per share of Class A common stock and $0.84375 per share of its preferred stock.

The big picture

Ares' record fundraising and AUM growth demonstrate continued investor appetite for alternative investment strategies, even amidst market turbulence. The company's ability to capitalize on this demand and deploy capital effectively will be critical for sustaining its momentum. The $644 billion in AUM positions Ares as a significant player in the global alternative investment landscape, but also increases scrutiny on performance and risk management.

What we're watching

Fundraising Sustainability
The ability to maintain this elevated fundraising pace in subsequent quarters will be crucial, given the current macroeconomic uncertainties and potential for increased competition.
Portfolio Performance
While Ares cites strong fundamental performance across portfolios, the impact of ongoing market volatility on investment returns warrants close monitoring.
Capital Deployment
With $160 billion of available capital, Ares' strategic allocation and execution of investment opportunities will be key to realizing the potential for further growth and returns.

Ares Elevates Strategy Chief to COO, Signaling Operational Focus

Event summary

  • Peter Ogilvie, currently Head of Ares Corporate Strategy Group, has been appointed Chief Operating Officer and Head of Strategy.
  • Ogilvie joined Ares in 2007 and has been instrumental in several acquisitions, including Allied Capital, American Capital, Black Creek Group, Landmark Partners, and GCP International.
  • He has been a member of the Ares Operating Committee and serves on the Board of Directors of Vinci Compass.
  • Ares Management Corporation manages approximately $623 billion in assets as of December 31, 2025.

The big picture

The appointment of Peter Ogilvie to COO and Head of Strategy suggests Ares is prioritizing operational efficiency and scalability as it manages a substantial $623 billion AUM. This move, combined with his history of driving acquisitions, indicates a continued focus on growth through both organic expansion and strategic M&A. The elevation of a long-tenured internal leader also signals a commitment to Ares’ existing culture and a desire to maintain stability amidst ongoing market volatility.

What we're watching

Execution Risk
Ogilvie’s dual role as COO and Head of Strategy presents execution risk; balancing operational scaling with strategic direction demands significant bandwidth and could dilute focus.
Integration Challenges
Given Ogilvie’s history of acquisition integration, the market should monitor whether his new role will accelerate or alter Ares’ M&A strategy, and the potential for further consolidation within the alternative investment landscape.
Governance Dynamics
The appointment signals a potential shift in Ares’ governance structure, and how Ogilvie’s influence will affect the balance of power within the leadership team warrants observation.

Ares Bolsters Asia Credit Leadership Amidst Executive Shuffle

Event summary

  • E.G. Morse, formerly Co-Head of China at Goldman Sachs, is joining Ares as Partner and Head of Asia Credit, replacing Edwin Wong who is retiring.
  • Dinesh Goel and Gabriel Fong are being appointed as Co-Heads of Ares’ Asia Special Situations strategy, succeeding Wong.
  • Ares’ Asia Credit business currently manages $11.5 billion in assets under management as of December 31, 2025.
  • Morse brings 16 years of experience from Goldman Sachs, including roles in Singapore, Shanghai, and New York.
  • Goel joined Ares through the acquisition of SSG Capital in 2020, while Fong joined from CapitaLand Investment in 2026.

The big picture

The appointments signal Ares’ continued commitment to expanding its presence and capabilities in the lucrative Asia Credit market. Bringing in a seasoned executive like Morse from Goldman Sachs demonstrates a desire to aggressively grow AUM and deepen relationships. The transition also highlights the ongoing churn within investment banking as alternative asset managers increasingly poach top talent.

What we're watching

Integration Risk
Morse’s success will hinge on his ability to quickly integrate into Ares’ existing Asia Credit team and culture, given his extensive experience at a direct competitor.
Growth Trajectory
The co-leadership structure of the Asia Special Situations strategy could either accelerate or hinder growth, depending on Goel and Fong’s ability to coordinate and leverage their respective expertise.
Competitive Landscape
Ares’ ability to maintain its market position in Asia Credit will be tested as Goldman Sachs and other competitors likely seek to capitalize on Wong’s departure and Morse’s move.

Ares Secures $5.4 Billion for Real Estate Value-Add Strategies

Event summary

  • Ares Management Corporation raised a combined $5.4 billion for U.S. and European value-add real estate strategies.
  • The U.S. fund (US XI) closed at its hard cap of $3.1 billion, with total capital raised reaching $3.5 billion including related vehicles.
  • The European fund (EPEP IV) secured $1.9 billion in total capital.
  • Ares Real Estate manages approximately $114 billion in assets under management as of December 31, 2025.
  • Ares Management Corporation has nearly $623 billion in assets under management globally as of December 31, 2025.

The big picture

Ares's successful fundraising demonstrates continued investor appetite for value-add real estate strategies, particularly in the U.S. and Europe, as markets begin to recover. The substantial capital commitment, combined with Ares's scale ($114 billion AUM), positions them to capitalize on perceived opportunities in supply-constrained sectors. This fundraising underscores the ongoing shift towards alternative investment vehicles for institutional investors seeking to diversify portfolios and generate yield.

What we're watching

Deployment Pace
The speed at which Ares deploys the $5.4 billion will indicate their confidence in current market conditions and their ability to source deals meeting their value-add criteria.
Sector Resilience
How Ares’s focus on ‘New Economy’ sectors like logistics and multifamily performs relative to other real estate segments will test the durability of their thematic investment approach.
Competition
Increased capital flowing into value-add real estate could intensify competition for deals, potentially impacting Ares’s ability to maintain its differentiated access to high-quality assets.

Ares Amasses $9.8 Billion for Opportunistic Credit, Exceeding Targets

Event summary

  • Ares Management Corporation closed its Ares Special Opportunities Fund III LP (ASOF III) with over $9.8 billion in capital, exceeding its target and prior fund size.
  • The fund secured over $8.3 billion in equity commitments, marking a significant oversubscription.
  • ASOF III focuses on opportunistic credit strategies, providing debt, equity, and hybrid solutions to middle-market companies.
  • The strategy has deployed over $17 billion since inception, generating $11 billion in realized proceeds.

The big picture

Ares' success in raising this substantial fund underscores the ongoing demand for private credit solutions, particularly those targeting middle-market companies. The oversubscription highlights investor confidence in Ares' opportunistic credit strategy and its ability to capitalize on market dislocations. With $623 billion in AUM, Ares' scale allows it to deploy significant capital and compete effectively in this space, but also increases the pressure to deliver consistent performance.

What we're watching

Deployment Pace
The speed at which ASOF III deploys its substantial capital will be a key indicator of Ares' ability to source and execute deals in a potentially more competitive environment.
Market Volatility
Continued market volatility will likely shape the types of opportunities Ares pursues, and its success will depend on its ability to navigate complex situations.
Return Generation
The fund's ability to generate attractive risk-adjusted returns will be crucial to maintaining investor confidence and securing future fundraising success.

Ares, LGP Structure $850 Million Continuation Vehicle for Convergint

Event summary

  • Ares and Leonard Green & Partners (LGP) have closed an $850 million single-asset continuation vehicle for Convergint Technologies.
  • LGP's Sage Fund led and fully underwrote the vehicle, with Vintage Strategies at Goldman Sachs Alternatives also participating.
  • Ares Private Equity has made a new, substantial investment in Convergint, maintaining a shared control position with LGP and Harvest Partners.
  • Convergint, a global leader in security and safety solutions, has seen Adjusted EBITDA quadruple since Ares’ initial investment in 2018.
  • The deal extends Ares’ partnership with Convergint and supports the company’s continued growth, including over 40 acquisitions.

The big picture

This deal highlights the growing popularity of single-asset continuation vehicles as a way to extend the life of successful private equity investments, particularly in sectors like security and safety where consistent demand exists. The structure allows existing investors to realize gains while providing additional capital for continued growth. With Ares managing nearly $623 billion in assets, this transaction underscores the firm’s continued focus on growth equity and strategic partnerships within the technology sector.

What we're watching

Capital Structure
The success of this continuation vehicle model hinges on whether LGP and Ares can continue to attract capital for similar structures, indicating investor appetite for this type of deal.
Acquisition Strategy
Convergint's aggressive acquisition strategy will need to be carefully managed to avoid integration challenges and ensure continued value creation, especially given the current economic climate.
Market Dynamics
The reliance on 'secular tailwinds' in security and safety solutions means Convergint's growth is vulnerable to shifts in geopolitical risk perception and technological disruption.

Ares Secures €300M+ for Second European Direct Lending CLO

Event summary

  • Ares Management priced its second European Direct Lending Collateralized Loan Obligation (EDL CLO II) at over €300 million.
  • EDL CLO II comprises loans to over 70 middle-market companies in Western Europe, primarily in resilient industries.
  • The CLO is structured as a multi-currency instrument, reportedly a first for Europe.
  • Ares manages approximately $84 billion in assets across its European Direct Lending strategy and has completed over 420 investments since 2007.
  • Ares has issued 108 CLOs since 1999, with 72 currently active, representing over $39 billion of its assets.

The big picture

Ares' EDL CLO II demonstrates the continued appetite for private credit solutions in Europe, particularly among middle-market companies. The CLO's multi-currency structure suggests a strategic effort to broaden investor appeal and potentially access new pools of capital. With over $39 billion in CLOs, Ares is a dominant player in the space, and this issuance reinforces their position as a key provider of capital to European businesses.

What we're watching

Market Appetite
Continued success in pricing similar CLOs will depend on sustained investor demand for European middle-market debt, which is sensitive to broader macroeconomic conditions and interest rate expectations.
Competition
The emergence of Ares as a pioneer in multi-currency European middle-market CLOs may attract increased competition, potentially impacting pricing and deal terms in the future.
Origination Pace
The ability of Ares to consistently originate sufficient high-quality loans to feed EDL CLO III and subsequent vehicles will be a key determinant of the strategy's long-term success.

Ares Foundation Funds Supply Chain Reskilling Initiative Amidst Sustainability Demands

Event summary

  • The Ares Charitable Foundation launched 'Mapping, Matching and Money,' a new initiative focused on reskilling workers within global supply chains.
  • The initiative aims to address human capital vulnerabilities in SME supply chains, particularly regarding sustainability requirements.
  • The Ares Foundation is collaborating with WRI, Harvard's Project on Workforce, and Pagitsas Advisors on the program.
  • The initiative builds on WRI's 'Elephant in the Boardroom' report and the Ares Foundation's own 'People-Centered Supply Chains for the Win' article.
  • The Ares Foundation hosted a panel discussion at the World Economic Forum Annual Meeting 2026 to explore these topics.

The big picture

The Ares Foundation's initiative highlights the growing pressure on corporations to ensure the sustainability and resilience of their global supply chains, which increasingly relies on the capabilities of smaller suppliers. This reflects a broader trend of embedding ESG considerations into supply chain management, moving beyond simple cost optimization to encompass worker well-being and skill development. The initiative's reliance on AI-enabled tools suggests a move towards more data-driven and customized solutions for SME workforce development.

What we're watching

Implementation Scale
The success of 'Mapping, Matching and Money' hinges on the Ares Foundation's ability to scale its diagnostic tools and training programs to a significant number of SMEs, given the estimated 70% of the global workforce comprised of SME workers.
Corporate Adoption
Whether large corporates will actively participate and incentivize their SME suppliers to adopt the reskilling programs remains to be seen, as it requires a shift in cost allocation and a commitment to long-term supplier development.
Financial Sustainability
The initiative's long-term viability depends on securing consistent funding streams beyond the Ares Foundation, potentially through corporate sponsorships or government grants, to support ongoing reskilling efforts.

Ares AUM Surges Past $600 Billion Amid Record Fundraising

Event summary

  • Ares Management Corporation reported $54.2 million in GAAP net income for Q4 2025, with $0.08 EPS.
  • The firm's AUM crossed $600 billion, a 29% year-over-year increase.
  • Fundraising and investing activity reached over $100 billion annually, a new record.
  • Ares completed the acquisition of GCP International, expanding its real estate and digital infrastructure capabilities.
  • The company is increasing its quarterly common stock dividend by 20% to $1.35 per share.

The big picture

Ares' results demonstrate the continued appeal of alternative asset management, particularly as institutional investors seek diversification and higher returns. The firm's record fundraising and AUM growth reflect a favorable market environment and Ares’ successful expansion into new areas like digital infrastructure. The GCP acquisition signals a strategic bet on these high-growth sectors, but integration risk remains a key factor to monitor.

What we're watching

Fundraising Sustainability
The claim of continued strong fundraising, potentially matching 2025 levels, hinges on maintaining investor demand across all channels in a potentially shifting macroeconomic environment.
GCP Integration
The success of the GCP International acquisition will depend on the effective integration of its real estate and digital infrastructure capabilities and the realization of anticipated synergies.
Dividend Policy
The 20% dividend increase signals confidence, but its sustainability will be tied to Ares’ ability to consistently generate earnings and manage capital deployment effectively.

Ares Bolsters Credit Strategy with $5.5B BlueCove Acquisition

Event summary

  • Ares Management Corporation has completed its acquisition of London-based systematic fixed-income manager, BlueCove Limited.
  • The acquired business will operate as Ares Systematic Credit, integrated within the Ares Credit Group.
  • BlueCove manages approximately $5.5 billion in assets under management (AUM).
  • The Ares Credit Group now manages $397 billion in assets, inclusive of BlueCove’s AUM.
  • Alex Khein, former CEO of BlueCove, will lead Ares Systematic Credit as Partner and Head.

The big picture

Ares' acquisition of BlueCove signals a strategic push into systematic credit strategies, a rapidly growing area within alternative investments driven by demand for data-driven approaches and alpha generation. The $5.5 billion AUM acquisition expands Ares’ Credit Group, which already manages a substantial $397 billion, solidifying its position as a major player in the credit markets. This move reflects a broader trend among asset managers to leverage technology and quantitative methods to enhance investment performance and cater to evolving investor preferences.

What we're watching

Integration Risk
The success of Ares Systematic Credit hinges on the effective integration of BlueCove’s technology and processes into Ares’ existing infrastructure, which could face operational and cultural challenges.
Performance Pressure
Ares will face pressure to demonstrate the value of the systematic credit strategy, particularly as investor expectations for alpha generation in fixed income remain high.
Competitive Landscape
The systematic credit space is becoming increasingly crowded, and Ares Systematic Credit will need to differentiate itself through proprietary technology and investment expertise to maintain its competitive edge.

Ares Provides $1.6 Billion to Forge Personal Care Giant Evermark

Event summary

  • Ares Credit funds acted as administrative agent on $1.6 billion in debt financing.
  • The financing supports the merger of Yellow Wood Partners’ portfolio companies, Suave Brands and Elida Beauty.
  • The combined entity, Evermark, now owns brands including Suave, ChapStick, Q-tips, Pond's, and St. Ives.
  • Yellow Wood Partners retains ownership of Evermark.

The big picture

The creation of Evermark represents a bet on consolidating the fragmented personal care market through a private equity-backed roll-up strategy. Ares’ willingness to provide such a substantial debt package underscores the perceived attractiveness of the consumer sector, despite macroeconomic headwinds. The deal highlights the ongoing trend of private equity firms leveraging debt to create larger platforms, a tactic that carries increased risk in a rising interest rate environment.

What we're watching

Debt Burden
Evermark's ability to service $1.6 billion in debt will be a key determinant of its financial flexibility and strategic options, particularly given the cyclical nature of consumer spending.
Brand Integration
The success of Evermark hinges on effectively integrating disparate brands and avoiding channel conflict, a challenge often underestimated in consumer roll-ups.
Yellow Wood Strategy
Yellow Wood's continued involvement and operational strategy for Evermark will be crucial; the firm’s Consumer Operating DNA® will be tested at scale.

Ares Credit Secondaries Fund Closes at $7.1 Billion, Surpassing Target

Event summary

  • Ares Management Corporation raised $7.1 billion for its inaugural Ares Credit Secondaries Fund (ACS), including leverage.
  • The fund secured $4 billion in limited partner (LP) equity commitments, doubling its initial $2 billion target.
  • ACS is reportedly the largest dedicated institutional credit secondaries fund globally by LP equity commitments.
  • The Credit Secondaries strategy is led by Blair Jacobson, Dave Schwartz, Sebastien Burdel, Chrissy Lamont Svejnar and Luca Salvato.
  • Ares manages over $595 billion in assets as of September 30, 2025, with $38 billion in assets managed by the Secondaries Group.

The big picture

The oversubscribed ACS fundraise highlights the growing appetite for credit secondaries strategies, which offer a way to access private credit portfolios at potentially discounted prices. Ares’ early-mover advantage and established relationships are key differentiators, but the fund’s scale necessitates careful portfolio construction and risk management. This success reinforces Ares’ position as a major player in the alternative investment landscape, but also increases scrutiny of its ability to deliver on its ambitious mandate.

What we're watching

Market Dynamics
The rapid growth of credit secondaries suggests increasing liquidity needs among private credit LPs, potentially driven by macroeconomic uncertainty and a desire to rebalance portfolios.
Competitive Landscape
Ares' success will likely spur increased competition in the credit secondaries space, potentially compressing spreads and increasing deal complexity.
Execution Risk
The fund's size and leverage introduce execution risk; Ares will need to demonstrate its ability to deploy capital effectively and generate returns in a competitive environment.

Ares Bolsters Data Center Footprint with $1.5B+ Virginia Investments

Event summary

  • Ares Management acquired a 314-acre site in Spotsylvania County, Virginia, to develop a 200 MW data center campus via its Ada Infrastructure platform.
  • Ares Real Estate acquired two existing 165 MW hyperscale data centers in Leesburg, Virginia, under 15-year triple-net leases.
  • The combined investments represent a significant expansion of Ares’ data center portfolio, totaling over 365 MW of IT load capacity.
  • Ares manages over $595 billion in assets as of September 30, 2025, demonstrating the scale of this investment.
  • The acquired Leesburg data centers are leased to a leading, investment-grade hyperscale customer.

The big picture

Ares is doubling down on data centers, a key component of the ‘New Economy’ benefiting from digital transformation and supply chain shifts. The dual-track strategy – greenfield development via Ada and stabilized asset acquisition – suggests a desire to capture both growth and income opportunities. This move underscores the increasing institutional interest in data centers as a core asset class, driven by the insatiable demand for cloud computing and AI infrastructure.

What we're watching

Execution Risk
The success of the Spotsylvania development hinges on Ada Infrastructure’s ability to rapidly deploy capacity in a competitive market, given the stated goal of near-term delivery.
Tenant Risk
While the Leesburg assets have a strong tenant, Ares’ strategy relies on continued demand from hyperscalers, which could be affected by shifts in cloud computing adoption and economic conditions.
Market Dynamics
The pace at which Ares can capitalize on the supply-constrained Northern Virginia market will determine the overall return on these investments, given the high demand and competitive landscape.
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