Ares Management Reports Record Fundraising Amid Slower Transaction Environment — Ares Management Corporation

Event summary

$150.6 million GAAP net income for Q2 2026, with $0.49 EPS.
$36 billion in fundraising inflows, a record quarterly figure.
$170 billion in dry powder, positioning the firm for large-scale investments.
Fee-related earnings of $491.1 million, up over 20% year-over-year.
Quarterly dividend declared at $1.35 per share of Class A common stock.

The big picture

Ares Management's strong Q2 2026 results highlight its ability to attract capital despite a slower transaction environment. The firm's $170 billion in dry powder positions it well to capitalize on future investment opportunities, reflecting broader trends of alternative asset managers leveraging scale and diversification to navigate volatile markets. The record fundraising inflows underscore investor confidence in Ares' performance across credit, real estate, private equity, and infrastructure strategies.

What we're watching

Investment Pipeline: How the pickup in firmwide investment pipeline will translate into deployment of dry powder and impact future earnings.
Market Conditions: Whether Ares can sustain its strong fundraising momentum amid a slower transaction environment.
Earnings Growth: The pace at which fee-related earnings and after-tax realized income will grow, given the record dry powder and diversified platform.