Ares eyes record fundraising year after $31bn third-quarter haul
Ares Management raised $31bn in Q3 across private credit, real estate, and infrastructure, boosting its assets under management by 16% to $690.6bn.
Global alternative asset manager Ares Management raised $31 billion during the third quarter, putting the firm on course for a record fundraising year as investors committed capital across private credit, real estate, and infrastructure.
More than half of the quarterly inflows came from outside of credit. The firm's credit business raised $15.2 billion, while real assets attracted $11.2 billion. Chief Executive Officer Michael Arougheti stated that sustained demand from institutional and wealth investors supported expectations for a strong fourth quarter.
Assets under management rose 16% to $690.6 billion, while fee-related earnings increased 11% to $524.2 million. Recent fundraising included around $4 billion for a Japan-focused logistics development fund and $4.2 billion for a debut secondaries vehicle.
Capital deployment also remained active, with Ares putting $34.8 billion to work during the quarter. Investment activity was led by US and European direct lending, alternative credit, and infrastructure strategies.
Uninvested capital increased 16% to $173.8 billion. Management expects investment activity to accelerate in the fourth quarter following subdued buyout activity and competition from syndicated lenders.