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Ares Management (ARES) investor relations material
Ares Management Goldman Sachs U.S. Financial Services Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Industry trends and private credit outlook
Private credit remains strong, with diversified portfolios, low non-accrual rates, and robust cash flow growth of 10%-12% per year.
Stress tests by regulators are expected to highlight private credit's stabilizing effect on markets.
Private credit has taken market share from other leveraged finance segments, with no evidence of increased risk.
Deployment pipelines are at or near record levels, with strong Q4 activity expected to continue.
Fundraising and product strategy
Achieved a record fundraising year, surpassing $90 billion, with over 30 funds in the market and strong institutional and wealth demand.
No slowdown in institutional or wealth channel demand; 2026 expected to be another strong year as flagship funds return.
ABF business is balanced between rated IG and non-rated strategies, with non-rated portfolios offering higher profitability.
Product innovation and global distribution are driving consistent growth in the wealth channel, targeting $125 billion AUM by 2028.
Deployment and market opportunities
Deployment is broad-based across direct lending, asset-backed finance, infrastructure, and real estate credit.
Q3 saw over $40 billion deployed, with momentum expected to carry into early next year.
Strong demand in opportunistic credit and infrastructure, with real estate at an inflection point.
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