Ares Management Corporation reported third‑quarter 2025 financial results, posting GAAP net income of $288.9 million and earnings per share of $1.15 on both basic and diluted bases.
Adjusted revenue for the quarter was $1.16 billion, beating the consensus estimate of $1.12 billion. After‑tax realized income reached $425.8 million, and fee‑related earnings climbed to $471.2 million, up 39% year over year.
Assets under management increased 28% year over year to $595.7 billion, driven by strong inflows and new fund launches. Management fees rose 28% to $971.8 million, and the company reported record fundraising, expecting to exceed its previous annual record of $93 billion.
Compared with the same quarter last year, GAAP net income grew 144%, and after‑tax realized income rose 35%. Sequentially, the quarter saw a 12% increase in revenue and a 9% rise in fee‑related earnings versus Q2 2025.
Management highlighted continued momentum in its credit, real assets, private equity, and secondaries platforms, noting that lower interest rates are supporting private credit demand and that the firm is positioned to capitalize on the secular shift toward private markets.
The company reiterated its outlook for the remainder of 2025, citing an improving market tone, a robust investment pipeline, and significant available capital of $150 billion.
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