Record Fundraising and Asset Growth
Ares Management achieved its second highest quarterly fundraising total on record, raising over $26 billion. Year-to-date, over $46 billion in gross commitments were raised, putting Ares on pace to potentially exceed last year's record of $92.7 billion. As a result, AUM increased to $572 billion, with a quarter-over-quarter organic growth of 19% on an annualized basis.
Dividend Increase
A quarterly dividend of $1.12 per share was declared, representing an increase of 20% over the dividend for the same quarter a year ago.
Strong Growth in Management Fees and Revenues
Year-over-year growth in management fees was 24%, total fee-related revenue growth was 29%, and fee-related earnings (FRE) growth was 26%.
Successful Integration and Growth of GCP
The GCP acquisition contributed $103 million in revenues and $34 million in FRE for a 33% FRE margin. Ares expects significant contributions from GCP in the coming years, particularly in the data center business.
Continued Expansion in Wealth and Insurance Channels
Ares' wealth channel achieved a 54% increase in fundraising for the first half of the year compared to the first half of 2024. The insurance strategy through Aspida generated over $1.9 billion in new premiums.
Strong Performance Across Strategies
Credit strategies generated double-digit returns ranging from 10% to 23% over the last 12 months, with real estate and private equity also showing positive results.