What does secondaries group — total investments mean?

The aggregate fair value of all investment assets held by the Secondaries Group. This represents the scale of the segment's portfolio and its exposure to secondary market opportunities.

Ares Management Corporation ARES Secondaries Group — Total investments

Other segment segments

Real Assets Group

$36.61B—

Credit Group

$29.98B—

Private Equity Group

$6.07B—

Other

$95.96M—

Similar metrics at other companies

APOOther investment-type and other — Total

$9.43B+13.3%

SPHAll Other Segments — Total Assets

$276.04M+5.9%

EFC

EFCInvestment Portfolio Segment — Total Assets

$6.63B+21.8%

KKRAsset Management and Strategic Holdings — Total Investments

$128.05B+37.9%

UTLAll Other Segments — Total Assets

$32.2M-1.2%

NBT

NBTBAll Other Segments — Total Assets

-$2.04B-14.4%

Other financials

Income statement

See full

Revenue$1.4B+28.3%

Net income$142.6M+202%

Balance sheet

See full

Cash & equivalents$568.8M-8.0%

Total debt$730.1M+6.4%

Total equity$4.0B-9.6%

Total assets$28.4B+4.5%

Cash flow

See full

Operating cash flow$406.5M-79.6%

Valuation

See full

Market cap$24.61B-33.7%

Enterprise value$24.77B-33.5%

P/E39.5×-37.8×

P/S4.2×-3.5×

Profitability

See full

Net margin10.5%+0.3pp

FCF margin-161.4%—

Returns & leverage

See full

Return on equity14.7%+0.6pp

Debt / equity0.2×0.0×

Where this comes from

Reported directly by Ares Management Corporation in its filing.

Tagged under the XBRL concept us-gaap:Investments.

The official record: Ares Management Corporation’s 10-K, filed February 25, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ares Management Corporation's secondaries group — total investments?: Ares Management Corporation (ARES) reported secondaries group — total investments of $8.02B in Q4 2025.
How has Ares Management Corporation's secondaries group — total investments changed year-over-year?: Ares Management Corporation's secondaries group — total investments decreased by 47.2% year-over-year, from $15.19B to $8.02B.
What does secondaries group — total investments mean?: The aggregate fair value of all investment assets held by the Secondaries Group. This represents the scale of the segment's portfolio and its exposure to secondary market opportunities.