Ares Management (ARES) Investor presentation summary

Business overview and strategy

• Operates a global alternative investment platform with $671 billion in AUM across credit, real assets, secondaries, private equity, and insurance solutions, supported by 4,430+ employees and 1,665+ investment professionals in 55+ offices worldwide.

• Focuses on a management fee-centric, asset-light model with long-lived, locked-up capital, diversified fundraising, and a balance sheet light approach.

• Demonstrates strong annualized growth: 19% CAGR in AUM and 18% CAGR in management fee revenues over the past 12+ years, with direct institutional investors growing over 5x since 2013.

• Provides tailored solutions for both investors and portfolio clients, emphasizing premium returns, low-correlation strategies, and flexible capital solutions.

• Drives value through scale, capital raising, investment capabilities, expanded fund families, and operational efficiencies.

Financial performance and growth

• Achieved a 19% CAGR in annual gross fundraising, 13% CAGR in deployment, and 24% CAGR in net accrued performance income from Q2-21 to Q2-26.

• Fee Related Earnings (FRE) and realized income grew at 30% and 25% CAGR, respectively, over the same period.

• Management fees are highly stable, consistently representing over 80% of total fee revenue, with 94% of management fees from perpetual or long-dated funds.

• Maintains a strong balance sheet with nearly $1.4 billion in available liquidity as of June 30, 2026.

• Demonstrates resilience with stable management fee growth through market and credit cycles, including periods of elevated default rates.

Market positioning and opportunities

• Holds leading positions in large, fragmented markets, with a small share of vast addressable markets in credit, real estate, infrastructure, private equity, and secondaries.

• Investor base is global and diversified, with $505 billion in direct AUM and $142 billion in retail channel AUM.

• Expanded strategies and scaled funds, with significant growth in direct lending, real assets, and secondaries.

• Institutional direct AUM has grown at a 21% CAGR since Q2-21, with deepening relationships across client types.

• Pursues global expansion, aiming to replicate successful models in the Americas across EMEA and Asia-Pacific.