Ares Management Corp

Ares Management Corp is a U.S.-based alternative investment manager that runs credit, real assets, secondaries and private equity strategies through a global platform. The company earns fees by managing capital for institutional clients, publicly traded funds, perpetual wealth vehicles and sub-advised accounts, while also generating performance-related income such as carried interest and incentive fees. Its business is built around long-duration investor relationships, a broad product shelf and a distribution platform, AWMS, that serves the global wealth channel. Ares also operates a substantial operating and control infrastructure to support fundraising, portfolio management, capital markets execution and client servicing across more than 25 countries.

11,1 %

+28,9 %

— Ares Management Corp
%
Credit40% Private credit, liquid credit and related financing strategies for institutional and wealth clients.
Real Assets25% Real estate and infrastructure investing, including fee and carry-generating funds.
Private Equity15% Corporate opportunities and other private equity-style investment funds.
Secondaries10% Secondary market funds that buy existing fund interests and other portfolio exposures.
Wealth Management Distribution10% AWMS and related publicly traded or perpetual wealth vehicles distributed to retail wealth channels.

Ares sells primarily to institutional investors that allocate capital to alternative strategies for yield,...

  • Institutional investorsprimary

    Pensions, sovereign wealth funds, endowments, insurers and similar allocators buy private credit, real assets, secondaries and private equity funds for long-term return and diversification.

  • Wealth management channelprimary

    Financial advisors and retail wealth investors access publicly traded funds and perpetual wealth vehicles distributed through AWMS for more accessible alternative exposure.

  • Sub-advised accountssecondary

    Third-party managed accounts and platform relationships use Ares strategies where clients want outsourced alternative investment expertise.

  • Portfolio companies and borrowerssecondary

    Operating businesses and sponsors receive financing, growth capital or acquisition capital through Ares credit and private equity strategies.

  • Real estate and infrastructure counterpartiessecondary

    Tenants, developers, operators and transaction counterparties interact with Ares through real assets investing and property-related services.

Ares operates a global platform with more than 55 offices in over 25 countries, so its business is not concentrated in...

  • Headquartered in the United States, with the parent company organized in Delaware
  • More than 55 offices across over 25 countries support fundraising and investing
  • European operations are important because of SFDR and other regulatory regimes
  • Asia exposure includes Hong Kong, Singapore and Japan through operating subsidiaries
  • Recent strategic acquisitions expanded activity in Brazil, Vietnam and Australia
  • Global footprint matters for sourcing deals, raising capital and serving investors

Ares’ strategy is to keep expanding assets under management by combining strong investment performance with broader...

01
Expand wealth distribution and retail-accessible productsshort-term

This reduces dependence on institutional fundraising and opens a larger pool of capital through advisors and retail channels.

02
Improve capital markets and financing executionshort-term

Better financing capabilities support deal sourcing, portfolio management and transaction completion across credit and real assets.

03
Broaden global platform and product mixmedium-term

A wider geographic and strategy footprint improves fundraising resilience and allows the firm to capture opportunities across cycles.

04
Invest in operating infrastructure and compliancemedium-term

A larger alternative asset platform requires stronger shared services, regulatory oversight and client servicing to scale safely.

Ares is exposed to market, liquidity and valuation risk because its earnings depend on fundraising, asset performance...

high

Sustainability regulation and greenwashing scrutiny

European rules such as SFDR can force product reclassification, increase disclosure burdens and affect investor demand if products are perceived as misaligned with sustainability expectations.

Scope
Funds marketed to EEA investors and sustainability-labelled products
Materiality
high
high

Third-party vendor and cybersecurity disruption

The firm depends on external providers for technology, fund administration, banking and compliance, so outages or breaches could interrupt operations or expose sensitive data.

Scope
Operations Management Group and AWMS
Materiality
high
high

Market and valuation volatility

Ares’ fee income and carried interest are tied to asset values, realizations and portfolio performance, which can fall in weaker markets.

Scope
Credit, real assets, private equity and secondaries funds
Materiality
high
medium

Competitive pressure for capital and deals

Alternative managers compete on performance, fees, product breadth and relationships, which can slow fundraising or reduce returns if Ares cannot differentiate.

Scope
Institutional fundraising and investment sourcing
Materiality
medium
medium

Cross-border regulatory complexity

Operating in many jurisdictions increases compliance burden and can delay product launches or investment activity.

Scope
Europe, Hong Kong, Singapore, Japan, Brazil, Vietnam and Australia
Materiality
medium
Consolidation of funds and special purpose vehicles
Reported revenue and balance sheet size can be distorted relative to fee-earning AUM
Carried interest and fee-related performance revenues
High earnings volatility and potential clawback/reversal risk
Fair value measurement of private investments
Can materially affect performance fees, carried interest and net income
Allocation to redeemable and non-controlling interests
Affects net income attributable to common shareholders
Seasonality and quarterly fee volatility
Quarter-to-quarter comparability is limited

: 11/08/2026