Ares Management Corporation ARES Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Realized Income (Loss) by Business | ||||||
| Credit Group | $2.06B+17.0% | $1.95B+15.6% | $1.87B+13.7% | $1.79B+13.5% | $1.76B+16.2% | |
| Other | $2.12M-94.6% | $15.42M-44.6% | $13.49M-56.1% | $15.98M-36.6% | $38.85M+1,849% | |
| Private Equity Group | $47.93M-6.3% | $39.54M-24.7% | $50.51M-5.6% | $52.64M+15.2% | $51.17M-4.5% | |
| Real Assets Group | $465.23M+77.7% | $442.05M+103% | $370.16M+87.0% | $318.45M+68.2% | $261.87M+29.7% | |
| Secondaries Group | $216.83M+76.1% | $203.3M+101% | $195.33M+138% | $145.29M+75.3% | $123.12M+61.7% | |
| Operating Income (Loss) by Business | ||||||
| Credit Group | $1.89B+16.6% | $1.82B+16.4% | $1.76B+16.3% | $1.68B+16.4% | $1.62B+17.9% | |
| Other | $29.35M+62.2% | $27.4M+74.7% | $23.07M+150% | $19.56M+97.6% | $18.09M+94.3% | |
| Private Equity Group | $58.87M-1.0% | $58.32M-3.7% | $51.44M-18.9% | $54.87M-9.3% | $59.48M+0.3% | |
| Real Assets Group | $522.35M+118% | $464.66M+119% | $371.44M+74.6% | $301.87M+45.6% | $239.87M+13.3% | |
| Secondaries Group | $222.46M+57.6% | $208.41M+65.2% | $204.33M+70.1% | $158.05M+35.2% | $141.15M+35.0% | |
| Performance Fees Net by Business | ||||||
| Credit Group | $170.73M+31.1% | $126.6M+6.9% | $106.86M-12.7% | $101.58M-18.6% | $130.23M+10.1% | |
| Other | $0— | $0— | $0— | $0— | $0— | |
| Private Equity Group | $14.82M+62.9% | $10.41M+49.4% | $15.05M+574% | $14.4M+573% | $9.1M-7.7% | |
| Real Assets Group | $17.7M-55.9% | $31.93M+38.6% | $34.14M+190% | $39.74M+398% | $40.08M+446% | |
| Secondaries Group | $71K-84.9% | $71K-84.9% | $71K-84.9% | $0-100% | $471K-39.8% | |
| Investment Income (Loss) Net by Business | ||||||
| Other | -$27.23M— | -$11.98M— | —— | —— | —— | |
| Private Equity Group | -$25.77M-48.0% | -$29.19M-94.5% | -$15.98M-27.8% | -$16.63M+3.9% | -$17.41M-9.3% | |
| Real Assets Group | -$74.82M-280% | -$54.54M-194% | -$37.01M-39.3% | -$24.76M+5.0% | -$19.67M-15.3% | |
| Secondaries Group | -$5.7M+69.2% | -$5.18M+79.8% | -$9.07M+76.4% | -$12.76M+63.0% | -$18.5M+36.6% | |
| Investment income (loss)—realized by Business | ||||||
| Credit Group | $12.97M-47.7% | $14.32M-32.3% | $14.84M-57.4% | $19.48M-34.1% | $24.77M-34.4% | |
| Other | $8.09M-21.1% | $8.43M-13.3% | $6.24M-50.1% | $8.7M+3.1% | $10.25M+114% | |
| Private Equity Group | -$10.98M-269% | -$15.66M-913% | -$3.08M— | -$3.07M— | -$2.97M— | |
| Real Assets Group | $28.88M+177% | $31.36M+505% | $30.65M+338% | $23.97M+902% | $10.43M+32.9% | |
| Secondaries Group | $1.68M-33.4% | $1.65M-35.9% | $2.55M-48.1% | $2.41M-50.3% | $2.52M-46.6% | |
| Performance income—realized by Business | ||||||
| Credit Group | $496.01M+36.4% | $383.89M+17.7% | $300.45M-11.3% | $287.21M-16.7% | $363.55M+9.1% | |
| Other | $0— | $0— | $0— | $0— | $0— | |
| Private Equity Group | $72.03M+54.6% | $42.4M-2.1% | $74M+560% | $70.73M+560% | $46.59M-8.3% | |
| Real Assets Group | $46.17M-62.1% | $99.81M+65.5% | $106.18M+244% | $120.42M+472% | $121.95M+556% | |
| Secondaries Group | $177K-51.0% | $177K-51.0% | $177K-51.0% | $0-100% | $361K-93.4% | |
| Investment Income, Investment Expense by Business | ||||||
| Credit Group | $17.09M-40.7% | $20.04M-35.9% | $23.95M— | $25.09M— | $28.84M— | |
| Other | $38.12M+17.9% | $34.9M+5.3% | $33.96M+36.3% | $32.29M+18.7% | $32.33M+34.3% | |
| Private Equity Group | $14.79M-19.7% | $15.56M-17.7% | $16.88M+21.5% | $17.55M+27.6% | $18.42M+29.9% | |
| Real Assets Group | $108.16M+184% | $92.79M+212% | $75.1M+128% | $54.77M+78.3% | $38.07M+41.3% | |
| Secondaries Group | $7.61M-66.8% | $8M-72.6% | $13.58M-67.6% | $17.07M-55.4% | $22.92M-30.6% | |
| Total performance related compensation—realized by Business | ||||||
| Credit Group | $325.28M+39.4% | $257.29M+23.8% | $193.59M-10.5% | $185.62M-15.6% | $233.32M+8.6% | |
| Other | $0— | $0— | $0— | $0— | $0— | |
| Private Equity Group | $57.21M+52.6% | $31.99M-11.9% | $58.96M+556% | $56.34M+556% | $37.49M-8.5% | |
| Real Assets Group | $28.48M-65.2% | $67.88M+82.1% | $72.04M+276% | $80.68M+517% | $81.86M+628% | |
| Secondaries Group | $106K+196% | $106K+196% | $106K+196% | $0+100% | -$110K-102% | |
| Interest Income by Business | ||||||
| Credit Group | $3.12M-76.6% | $6.7M-42.6% | $12.08M+48.0% | $12.77M+36.7% | $13.32M+31.8% | |
| Other | $2.8M-93.5% | $14.49M-59.5% | $18.39M-47.4% | $20.26M-42.5% | $43.09M+191% | |
| Private Equity Group | $3K-99.9% | $2.03M+2.8% | $3.98M+17,593% | $3.98M+14,129% | $3.99M+11,454% | |
| Real Assets Group | $4.46M-53.4% | $6.9M-9.9% | $9.03M+108% | $7.63M+56.4% | $9.57M+211% | |
| Secondaries Group | $238K-87.5% | $1.18M+21.0% | $1.96M+1,204% | $1.91M+783% | $1.91M+578% | |
| Acquisitions by Business | ||||||
| Credit Group | $0— | $0— | $0— | $0— | $0— | |
| Secondaries Group | $0— | $0— | $0— | $0— | $0— | |
| Compensation and benefits by Business | ||||||
| Credit Group | $800.48M+10.8% | $788.99M+14.0% | $772.48M+10.5% | $739.75M+13.7% | $722.21M+13.3% | |
| Other | $26.97M+17.5% | $26.07M+21.3% | $27.33M+13.9% | $24.32M+21.7% | $22.95M+25.7% | |
| Private Equity Group | $60.65M+8.6% | $60.7M+6.8% | $60.47M+4.3% | $58.6M+2.4% | $55.88M-1.2% | |
| Real Assets Group | $339.01M+89.2% | $315.62M+96.8% | $263.46M+67.8% | $220.31M+44.7% | $179.14M+16.5% | |
| Secondaries Group | $93.96M+30.6% | $91.83M+38.5% | $84.71M+32.3% | $74.19M+13.0% | $71.95M+17.1% | |
| General, administrative and other expenses by Business | ||||||
| Credit Group | $189.16M+12.2% | $178.86M+10.5% | $177.71M+19.1% | $172.25M+26.4% | $168.55M+36.8% | |
| Other | $10.1M+58.4% | $9.02M+37.0% | $7.87M+30.3% | $7.19M+30.7% | $6.38M+51.8% | |
| Private Equity Group | $22.7M+10.8% | $21.98M+2.5% | $20.88M+1.0% | $20.56M+5.1% | $20.49M+15.9% | |
| Real Assets Group | $127.92M+103% | $114.85M+102% | $91.97M+60.8% | $78.58M+47.2% | $63.17M+29.0% | |
| Secondaries Group | $38.07M+14.4% | $37.92M+11.9% | $35.63M+2.8% | $34.47M+12.2% | $33.29M+28.1% | |
| Foreign currency translation by Business | ||||||
| Credit Group | $530K— | $1.89M— | -$461K— | $890K— | —— | |
| Goodwill by Business | ||||||
| Credit Group | $1.25B+0.2% | $1.25B+0.3% | $1.25B+4.8% | $1.25B— | $1.25B— | |
| Private Equity Group | $485.63M+1.6% | $485.63M+2.5% | $485.63M-7.5% | $481.71M+5.8% | $477.75M+23.8% | |
| Real Assets Group | $10.38B+194% | $10.42B+796% | $8.13B+620% | $5.83B+419% | $3.53B+216% | |
| Secondaries Group | $1.67B0.0% | $1.67B0.0% | $1.67B0.0% | $1.67B0.0% | $1.67B— | |
| Total revenues by Product | ||||||
| Administrative, transaction and other fees | $406.17M+120% | $366.11M+124% | $305.26M+92.8% | $241.74M+58.5% | $184.76M+16.8% | |
| Carried interest | $1.18B+98.1% | $1.19B+197% | $1.17B+326% | $979.05M+3,191% | $597.14M+35.1% | |
| Incentive fees | $494.59M+34.1% | $364.72M+5.6% | $396.51M+13.5% | $344.48M+8.6% | $368.87M+33.0% | |
| Management fees | $3.91B+25.5% | $3.73B+24.6% | $3.51B+20.5% | $3.29B+17.8% | $3.12B+15.9% |
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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.
