Record-Breaking Fundraising and Deployment
Ares Management set a full-year fundraising record of $92.7 billion in 2024, exceeding the previous annual record by more than $15 billion. The company also achieved record deployment of $106.7 billion, up over 50% from 2023.
Significant Growth in Management Fees and FRE
Management fees and fee-related earnings (FRE) increased by 15% and 17% respectively, driven by growth in fee-paying AUM. Fourth quarter management fees reached a record $781 million.
Expansion of Executive Management Team
Kip DeVeer and Blair Jacobs were promoted to co-presidents, enhancing the executive management team to support critical strategic and operational initiatives.
Strong Performance in Private Credit and Real Estate
Fourth quarter investment activity increased by 34% year-over-year, with significant increases in US private credit, real estate debt and equity, and secondary solutions.
Significant Dry Powder for Future Investments
Ares Management enters 2025 with a record $133 billion of dry powder, positioning the firm for a strong year in a potentially more active market.