Ares Management Corporation ARES Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Realized Income (Loss) by Business | ||||||
| Credit Group | $542.92M-11.0% | $610.29M+28.6% | $474.57M+9.0% | $435.49M+0.8% | $431.94M-18.5% | |
| Other | -$2.54M-148% | $5.34M+18,503% | -$29K+95.6% | -$657K-106% | $10.77M+216% | |
| Private Equity Group | $18.61M+217% | $5.87M-44.5% | $10.58M-17.7% | $12.86M+25.7% | $10.23M-39.3% | |
| Real Assets Group | $110.77M-23.5% | $144.76M+29.2% | $112.05M+14.7% | $97.65M+11.5% | $87.6M+20.2% | |
| Secondaries Group | $53.2M+24.9% | $42.6M-41.1% | $72.32M+48.4% | $48.72M+22.8% | $39.67M+14.6% | |
| Operating Income (Loss) by Business | ||||||
| Credit Group | $477.44M-8.4% | $521.2M+11.2% | $468.61M+9.9% | $426.31M+4.3% | $408.59M-10.9% | |
| Other | $6.41M-46.0% | $11.88M+88.7% | $6.29M+32.1% | $4.76M+6.6% | $4.47M-40.7% | |
| Private Equity Group | $14.86M-29.5% | $21.06M+60.7% | $13.11M+33.1% | $9.85M-31.2% | $14.31M+0.9% | |
| Real Assets Group | $131.97M-12.4% | $150.65M+19.5% | $126.09M+10.9% | $113.65M+53.0% | $74.28M+29.3% | |
| Secondaries Group | $54.63M+26.3% | $43.25M-41.6% | $74.03M+46.5% | $50.54M+24.5% | $40.58M+3.6% | |
| Performance Fees Net by Business | ||||||
| Credit Group | $63.98M-29.0% | $90.06M+1,023% | $8.02M-7.5% | $8.67M-56.3% | $19.85M-71.8% | |
| Other | $0— | $0— | $0— | $0— | $0— | |
| Private Equity Group | $7.09M+1,236% | $531K-28.7% | $745K-88.5% | $6.45M+141% | $2.68M-48.1% | |
| Real Assets Group | $4.26M-63.4% | $11.64M+2,600% | $431K-68.4% | $1.36M-92.6% | $18.5M+33.6% | |
| Secondaries Group | $0— | $0-100% | $71K— | $0— | $0— | |
| Investment Income (Loss) Net by Business | ||||||
| Credit Group | $1.5M— | —— | -$2.05M-497% | $517K-85.2% | $3.49M+244% | |
| Other | -$8.95M-36.8% | -$6.54M-3.4% | -$6.32M-16.6% | -$5.42M-186% | $6.3M— | |
| Private Equity Group | -$3.34M+78.8% | -$15.72M-381% | -$3.27M+4.9% | -$3.44M+49.1% | -$6.76M-170% | |
| Real Assets Group | -$25.46M-45.2% | -$17.53M-21.2% | -$14.47M+16.7% | -$17.36M-235% | -$5.18M— | |
| Secondaries Group | -$1.44M-119% | -$655K+63.3% | -$1.79M+1.9% | -$1.82M-99.6% | -$913K+79.9% | |
| Investment income (loss)—realized by Business | ||||||
| Credit Group | $4.02M+46.3% | $2.75M+31.3% | $2.1M-48.9% | $4.1M-23.9% | $5.38M+64.5% | |
| Other | $2.19M+0.6% | $2.18M+35.7% | $1.61M-23.7% | $2.11M-16.7% | $2.53M— | |
| Private Equity Group | $78K+101% | -$11.94M-2,427% | $513K+39.0% | $369K+108% | -$4.6M-819% | |
| Real Assets Group | $5.45M-15.9% | $6.48M-37.8% | $10.42M+59.2% | $6.54M-17.4% | $7.92M+37.1% | |
| Secondaries Group | $169K-86.7% | $1.27M+474% | $221K+1,200% | $17K-87.7% | $138K-93.7% | |
| Performance income—realized by Business | ||||||
| Credit Group | $166.23M-42.4% | $288.43M+1,384% | $19.44M-11.3% | $21.92M-59.5% | $54.11M-73.6% | |
| Other | $0— | $0— | $0— | $0— | $0— | |
| Private Equity Group | $35.66M+1,236% | $2.67M-28.7% | $3.74M-87.5% | $29.96M+397% | $6.03M-82.4% | |
| Real Assets Group | $11.66M-60.6% | $29.63M+2,369% | $1.2M-67.4% | $3.68M-94.4% | $65.31M+81.4% | |
| Secondaries Group | $0— | $0-100% | $177K— | $0— | $0— | |
| Investment Income, Investment Expense by Business | ||||||
| Credit Group | $3.36M-21.9% | $4.3M-9.0% | $4.72M+0.2% | $4.71M-25.3% | $6.31M-23.1% | |
| Other | $11.14M+21.5% | $9.17M-0.4% | $9.2M+6.8% | $8.61M+8.8% | $7.92M-3.8% | |
| Private Equity Group | $3.42M-9.6% | $3.78M-0.1% | $3.79M-0.7% | $3.81M-8.9% | $4.18M-18.1% | |
| Real Assets Group | $31.09M+19.7% | $25.98M-2.0% | $26.52M+7.9% | $24.57M+56.3% | $15.72M+89.6% | |
| Secondaries Group | $1.62M-20.9% | $2.05M-1.2% | $2.08M+11.5% | $1.86M-7.3% | $2.01M-73.7% | |
| Total performance related compensation—realized by Business | ||||||
| Credit Group | $102.25M-48.5% | $198.36M+1,637% | $11.42M-13.8% | $13.25M-61.3% | $34.26M-74.6% | |
| Other | $0— | $0— | $0— | $0— | $0— | |
| Private Equity Group | $28.56M+1,236% | $2.14M-28.7% | $3M-87.2% | $23.51M+601% | $3.35M-88.5% | |
| Real Assets Group | $7.4M-58.9% | $17.99M+2,239% | $769K-66.8% | $2.32M-95.0% | $46.81M+111% | |
| Secondaries Group | $0— | $0-100% | $106K— | $0— | $0— | |
| Interest Income by Business | ||||||
| Credit Group | $832K+45.5% | $572K-0.9% | $577K-49.2% | $1.14M-74.3% | $4.42M-25.7% | |
| Other | $0-100% | $445K-65.0% | $1.27M+17.1% | $1.09M-90.7% | $11.69M+169% | |
| Private Equity Group | $0-100% | $1K0.0% | $1K0.0% | $1K-100.0% | $2.02M+3.3% | |
| Real Assets Group | $184K-90.7% | $1.97M+20.4% | $1.64M+146% | $665K-74.6% | $2.62M-36.2% | |
| Secondaries Group | $19K-85.2% | $128K+88.2% | $68K+196% | $23K-97.6% | $957K+5.4% | |
| Acquisitions by Business | ||||||
| Credit Group | $0— | $0— | $0— | $0— | $0— | |
| Private Equity Group | $0— | —— | —— | —— | $0— | |
| Real Assets Group | $10.36M-34.2% | $15.75M— | —— | —— | $2.3B+7,996% | |
| Secondaries Group | $0— | $0— | $0— | $0— | $0— | |
| Compensation and benefits by Business | ||||||
| Credit Group | $176.24M-29.9% | $251.33M+18.2% | $212.71M+32.8% | $160.21M-2.8% | $164.75M-29.8% | |
| Other | $7.96M+248% | $2.29M-77.7% | $10.25M+58.4% | $6.47M-8.4% | $7.06M+99.2% | |
| Private Equity Group | $13.78M-3.8% | $14.32M-9.1% | $15.75M-6.2% | $16.8M+21.4% | $13.83M-1.9% | |
| Real Assets Group | $80.09M-14.0% | $93.11M+8.9% | $85.51M+6.5% | $80.29M+41.6% | $56.7M+38.5% | |
| Secondaries Group | $20.5M-19.4% | $25.44M+2.0% | $24.95M+8.2% | $23.07M+25.6% | $18.37M+0.3% | |
| General, administrative and other expenses by Business | ||||||
| Credit Group | $51.35M+9.2% | $47M+1.1% | $46.51M+5.0% | $44.3M+7.9% | $41.05M-10.5% | |
| Other | $2.56M-4.8% | $2.69M+25.8% | $2.14M-21.0% | $2.71M+82.6% | $1.48M-3.9% | |
| Private Equity Group | $4.98M-31.5% | $7.27M+48.5% | $4.89M-12.0% | $5.56M+30.6% | $4.26M-31.0% | |
| Real Assets Group | $33.92M-5.2% | $35.79M+30.1% | $27.52M-10.4% | $30.7M+47.2% | $20.85M+61.5% | |
| Secondaries Group | $8.63M-11.5% | $9.75M+1.3% | $9.62M-4.5% | $10.08M+18.9% | $8.47M+13.7% | |
| Foreign currency translation by Business | ||||||
| Credit Group | -$1.16M-435% | $347K-74.2% | $1.34M— | $0-100% | $194K+110% | |
| Private Equity Group | $0— | —— | —— | —— | $0— | |
| Real Assets Group | $115K-79.4% | $557K-22.1% | $715K— | —— | $38.8M+5,436% | |
| Secondaries Group | -$4K— | —— | —— | $11K+120% | $5K+142% | |
| Goodwill by Business | ||||||
| Credit Group | $312.67M-0.4% | $313.83M+0.1% | $313.48M+0.4% | $312.14M0.0% | $312.23M+0.1% | |
| Private Equity Group | $121.41M0.0% | $121.41M0.0% | $121.41M0.0% | $121.41M0.0% | $121.41M0.0% | |
| Real Assets Group | $2.61B+0.4% | $2.6B+0.6% | $2.58B0.0% | $2.59B-2.4% | $2.65B+750% | |
| Secondaries Group | $417.64M0.0% | $417.64M0.0% | $417.64M0.0% | $417.64M0.0% | $417.63M0.0% | |
| 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% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →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.
