Key Takeaways
- • Ares Management raised USD 31 billion in Q3 2026, with its real assets division contributing USD 11.2 billion and its credit group USD 15.2 billion, according to the source article citing Reuters.
- • Assets under management rose 16% to USD 690.6 billion as of September 30, 2026, while fee-related earnings increased 11% to USD 524.2 million.
- • Ares deployed USD 34.8 billion during the quarter, leaving uninvested capital up 16% to USD 173.8 billion, a gap that must be closed before management fees accrue on institutional funds.
- • CEO Michael Arougheti said the firm continues to expect a record fundraising year, with visibility into a strong fourth quarter.
- • Deal activity among private credit firms stayed subdued amid lower buyout activity and competition from the broadly syndicated loan market.
Summary
Ares Management, the Los Angeles-based alternative asset manager, raised USD 31 billion in the third quarter of 2026, according to a Reuters report. More than half of the quarter's capital inflows came from businesses outside the company's credit division. The real assets division raised USD 11.2 billion, while the credit group attracted USD 15.2 billion. The results reflect the firm's expansion beyond private credit following its acquisition of GCP International last year, which strengthened its position in real estate and digital infrastructure.
Notable fundraising included a Japan-focused logistics real estate development fund worth approximately USD 4 billion and the firm's first secondaries fund, which raised USD 4.2 billion. Assets under management increased 16% to USD 690.6 billion in the three months ended September 30, 2026, and fee-related earnings rose 11% to USD 524.2 million. After-tax realised income per share of Class A common stock was USD 1.26, compared with USD 1.19 a year earlier.
Chief Executive Officer Michael Arougheti said the company continues to expect a record year for fundraising, with strong demand from institutional investors and wealth management channels supporting the fourth quarter. He said recent market volatility had increased demand for the firm's capital as it entered its typically strongest seasonal quarter. Investors are also watching management's commentary on AI infrastructure financing, following an early-October selloff in AI stocks that raised questions about asset managers funding that buildout.
Deployment remained a counterweight to fundraising. Ares deployed USD 34.8 billion during the quarter, driven by direct lending in the United States and Europe, alternative credit strategies, and infrastructure debt and equity investments. Uninvested capital rose 16% to USD 173.8 billion as of September 30. Because institutional funds generally begin earning management fees as capital is invested, the company's fourth-quarter deployment will be a key test. Deal activity among private credit firms remained subdued, with lower buyout activity and competition from the broadly syndicated loan market weighing on investment volumes.
Notable fundraising included a Japan-focused logistics real estate development fund worth approximately USD 4 billion and the firm's first secondaries fund, which raised USD 4.2 billion. Assets under management increased 16% to USD 690.6 billion in the three months ended September 30, 2026, and fee-related earnings rose 11% to USD 524.2 million. After-tax realised income per share of Class A common stock was USD 1.26, compared with USD 1.19 a year earlier.
Chief Executive Officer Michael Arougheti said the company continues to expect a record year for fundraising, with strong demand from institutional investors and wealth management channels supporting the fourth quarter. He said recent market volatility had increased demand for the firm's capital as it entered its typically strongest seasonal quarter. Investors are also watching management's commentary on AI infrastructure financing, following an early-October selloff in AI stocks that raised questions about asset managers funding that buildout.
Deployment remained a counterweight to fundraising. Ares deployed USD 34.8 billion during the quarter, driven by direct lending in the United States and Europe, alternative credit strategies, and infrastructure debt and equity investments. Uninvested capital rose 16% to USD 173.8 billion as of September 30. Because institutional funds generally begin earning management fees as capital is invested, the company's fourth-quarter deployment will be a key test. Deal activity among private credit firms remained subdued, with lower buyout activity and competition from the broadly syndicated loan market weighing on investment volumes.
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