Ares Management reported third-quarter 2026 results, with $449.6 million in after-tax realized income and $524.2 million in fee-related earnings. The alternative-asset manager also declared a quarterly dividend of $1.35 per share and said it raised more than $31 billion in gross capital commitments during the quarter.
Management said it expects another record year of fundraising and believes its year-to-date performance and expected fourth-quarter deployment put it in a position to meet or exceed its key financial objectives for 2026.
Key details
- Reported earnings: GAAP net income attributable to Ares was $85.3 million, or $0.21 per basic and diluted share of Class A and non-voting common stock.
- Realized income: After-tax realized income was $449.6 million, equal to $1.26 per Class A share. This is a separate measure from GAAP net income.
- Fee-related earnings: Ares reported $524.2 million in fee-related earnings for the quarter.
- Fundraising and investment activity: The firm raised more than $31 billion in gross capital commitments and invested $35 billion across its strategies. More than half of the quarter’s capital inflows came from outside its Credit Group.
- Management’s outlook: Ares said it expects another record fundraising year, with visibility into a strong fourth quarter, supported by demand from institutional and wealth clients. The company also expects improved investment deployment in the fourth quarter and said it is positioned to meet or exceed its key 2026 financial objectives.
- Future fee growth: Management pointed to capital already raised but not yet generating fees as a source of potential management-fee and earnings growth in 2027 and beyond.
- Dividend: Ares declared a quarterly dividend of $1.35 per share for its Class A and non-voting common stock. It is payable on December 31, 2026, to holders of record on December 17.
Plain-English implications
The dividend sets a cash payment for eligible common shareholders at the stated amount and dates. Ares also reported different earnings measures: GAAP net income, after-tax realized income and fee-related earnings. They are distinct measures, so the figures should not be treated as interchangeable.