Ares Investment Management Achieves Record Fundraising with Rising Revenue

Deep News05-01

Ares Investment Management (ticker: ARES) reported revenue growth alongside a record-breaking fundraising quarter. The company's first-quarter fundraising reached $30 billion, a 45% increase compared to the same period last year. Fee-paying assets under management grew by 19% year-over-year, driving a 25% rise in management fee revenue. Net profit for the period was $142.6 million, up significantly from $47.2 million in the prior-year period. Earnings per share stood at $0.46, compared to a nearly break-even result a year earlier. Total revenue increased to $1.4 billion from $1.09 billion in the previous year. Michael Arougheti, Chief Executive Officer of the company, stated: "Our diverse range of investment products continues to attract strong investor demand, positioning us for another potential annual fundraising record. Despite increased market volatility, our portfolios maintain solid fundamental performance."

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