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Q1 '26Q4 '25Q3 '25Q2 '25Q1 '25
Total revenues by Product
Administrative, transaction and other fees$97.95M-6.4%$104.64M-0.8%$105.46M+7.5%$98.12M+69.5%$57.89M+32.2%
Carried interest$162.75M-24.9%$216.68M-54.2%$473.04M+43.0%$330.74M+100%$165.13M-19.3%
Incentive fees$161.93M-22.4%$208.65M+107%$100.67M+331%$23.34M-27.2%$32.06M-86.7%
Management fees$1.01B+0.3%$1.01B+2.9%$980.28M+7.8%$909.58M+10.0%$826.88M+4.7%
Principal investment income$29.01M$73.54M-19.5%$91.38M+240%$26.84M+2,960%

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Questions, answered.

How does Ares Management Corporation break its business down?
Ares Management Corporation (ARES) reports net income (loss), including portion attributable to noncontrolling interest by business across 5 parts — Credit Group, Other, Private Equity Group, Real Assets Group and Secondaries Group. Each is extracted from the segment footnotes and tracked over time.
Where does Ares Management Corporation's segment data come from?
Segment breakdowns are pulled from the segment footnotes in Ares Management Corporation's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.