Ares Management posts record $36 bn Q2 fundraising and fee growth

Ares Management reported a record $36 billion of gross capital raised in the second quarter, bringing its first‑half fundraising total to about $66 billion. Total assets under management grew 17% year‑over‑year to roughly $671 billion, with fee‑paying AUM up 17% to about $410 billion. Fee‑related earnings increased 20% to $491 million, while realized income rose 31% to $522 million. The firm ended the quarter with $170 billion of dry powder and declared a quarterly dividend of $1.35 per share, more than 20% higher than the prior year.

Chief Executive Officer Michael Arougheti highlighted the diversification of capital sources, noting that about 70% of the capital raised so far in 2026 came from outside the four largest credit fund families. Chief Financial Officer Jarrod Phillips said the company expects to approach the upper end of its full‑year margin‑expansion guidance.