ARES

Ares Management (ARES) grew fee-paying assets under management by 13% year-over-year to $416.4 billion, and fee-related earnings margin expanded to 42.5%. The Series B preferreds offer a 7.92% yield and act as a high-income proxy for the common shares ahead of mandatory conversion next year. ARES trades at under 21x annualized FRE, with double-digit FPAUM growth expected as AUM not yet paying fees is deployed.

Ares Management NYSE: ARES reported third-quarter results marked by continued growth in assets under management, fundraising and fee-related earnings, while management said its diversified investment platform helped offset uneven transaction activity in certain markets.

Ares Management Corporation ( ARES ) Q3 2026 Earnings Call October 29, 2026 9:00 AM EDT Company Participants Greg Mason - Partner & Co-Head of Public Markets Investor Relations Michael Arougheti - Co-Founder, Partner, CEO & Director Jarrod Phillips - CFO, Partner & Principal Financial and Accounting Officer Blair Jacobson - Partner & Co-President Conference Call Participants Alexander Blostein - Goldman Sachs Group, Inc., Research Division Steven Chubak - Wolfe Research, LLC Craig Siegenthaler - BofA Securities, Research Division Benjamin Budish - Barclays Bank PLC, Research Division William Katz - TD Cowen, Research Division Patrick Davitt Crispin Love - Piper Sandler & Co., Research Division Bart Dziarski - RBC Capital Markets, Research Division Michael Brown - UBS Investment Bank, Research Division Devin Ryan - Citizens JMP Securities, LLC, Research Division Michael Cyprys - Morgan Stanley, Research Division Brennan Hawken - BMO Capital Markets Equity Research Wilma Jackson Burdis - Raymond James & Associates, Inc., Research Division Presentation Operator Welcome to Ares Management Corporation's Third Quarter 2026 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded on Thursday, October 29, 2026.

ARES beats Q3 earnings estimates as AUM climbs to $690.6B, supported by higher management fees and strong capital inflows.

The portfolio's outperformance was primarily driven by our holdings in the Health Care sector, which delivered strong returns for the quarter on company-specific catalysts. Information Technology holdings and underweight to the Energy sector detracted from returns. For the year-to-date period, the Fund returned 5.80% (net of fees), outperforming the Russell Midcap Growth Index's 1.01%.

Although the revenue and EPS for Ares Management (ARES) give a sense of how its business performed in the quarter ended September 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Ares Management (ARES) came out with quarterly earnings of $1.26 per share, beating the Zacks Consensus Estimate of $1.25 per share. This compares to earnings of $1.19 per share a year ago.

Approximately $6.3 Billion in New Commitments Closed in the Third Quarter and Approximately $43.4 Billion Closed in the 12 Months Ended September 30, 2026 NEW YORK, Oct. 29, 2026 /PRNewswire/ -- Ares Management Corporation (NYSE: ARES) announced today that Ares Credit funds (collectively "Ares") closed U.S. direct lending commitments of approximately $6.3 billion across 55 transactions during the third quarter of 2026 and approximately $43.4 billion across 314 transactions in the 12 months ended September 30, 2026. Below is a description of selected transactions that Ares closed during the third quarter of 2026.

NEW YORK, Oct. 27, 2026 /PRNewswire/ -- Ares Capital Corporation ("Ares Capital") (NASDAQ: ARCC) announced that its Board of Directors has declared a fourth quarter 2026 dividend of $0.48 per share. The fourth quarter 2026 dividend is payable on December 29, 2026 to stockholders of record as of December 15, 2026.

NEW YORK, Oct. 26, 2026 /PRNewswire/ -- Ares Management Corporation announced today that its Chief Financial Officer, Jarrod Phillips, is scheduled to present at the BMO Financials Conference on Tuesday, November 10, 2026, at 9:30am ET. A live audio webcast of the presentation will be available on the Investor Resources section of the Company's website at www.ares.com.