v3.26.1
Condensed Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets    
Intangible assets, net $ 777,400 $ 798,430
Goodwill 3,463,416 3,454,107
Total assets 28,394,933 28,633,369
Liabilities    
Operating lease liabilities 730,133  
Total liabilities 20,011,654 19,931,981
Commitments and contingencies
Stockholders’ Equity    
Additional paid-in-capital 4,204,689 4,242,678
Accumulated deficit (1,656,571) (1,452,259)
Accumulated other comprehensive income, net of tax 13,989 21,743
Total stockholders’ equity 4,025,435 4,275,463
Total equity 8,359,400 8,676,092
Total liabilities, redeemable interest, non-controlling interests and equity 28,394,933 28,633,369
Series B Mandatory Convertible Preferred Stock    
Stockholders’ Equity    
Series B mandatory convertible preferred stock, $0.01 par value, 1,000,000,000 shares authorized (30,000,000 shares issued and outstanding as of March 31, 2026 and December 31, 2025) 1,460,030 1,460,030
Class A Common Stock    
Stockholders’ Equity    
Common stock 2,220 2,185
Non-voting Common Stock    
Stockholders’ Equity    
Common stock 35 35
Class B Common Stock    
Stockholders’ Equity    
Common stock 0 0
Class C Common Stock    
Stockholders’ Equity    
Common stock 1,043 1,051
Consolidated Entity, Excluding VIE, Including Parent    
Assets    
Total assets 28,394,933 28,633,369
Liabilities    
Total liabilities 20,011,654 19,931,981
Ares Management L.P    
Assets    
Cash and cash equivalents 568,779 488,896
Investments (includes accrued carried interest of $4,029,460 and $3,972,748 as of March 31, 2026 and December 31, 2025, respectively) 5,519,677 5,508,447
Due from affiliates 1,347,645 1,420,218
Other assets 1,042,457 1,032,138
Right-of-use operating lease assets 564,572 517,351
Intangible assets, net 2,141,645 2,115,830
Goodwill 3,463,416 3,454,107
Liabilities    
Accounts payable, accrued expenses and other liabilities 1,231,393 1,204,467
Accrued compensation 422,524 472,978
Due to affiliates 796,802 810,409
Performance related compensation payable 3,018,340 2,951,333
Debt obligations 4,386,476 3,941,415
Operating lease liabilities 730,133 669,999
Redeemable interest in Ares Operating Group entities 23,879 25,296
Non-controlling interests in Ares Operating Group entities 1,357,274 1,496,771
Stockholders’ Equity    
Additional paid-in-capital 4,204,689 4,242,678
Accumulated deficit (1,656,571) (1,452,259)
Accumulated other comprehensive income, net of tax 13,989 21,743
Total stockholders’ equity 4,025,435 4,275,463
Ares Management L.P | Series B Mandatory Convertible Preferred Stock    
Stockholders’ Equity    
Series B mandatory convertible preferred stock, $0.01 par value, 1,000,000,000 shares authorized (30,000,000 shares issued and outstanding as of March 31, 2026 and December 31, 2025) 1,460,030 1,460,030
Ares Management L.P | Class A Common Stock    
Stockholders’ Equity    
Common stock 2,220 2,185
Ares Management L.P | Non-voting Common Stock    
Stockholders’ Equity    
Common stock 35 35
Ares Management L.P | Class C Common Stock    
Stockholders’ Equity    
Common stock 1,043 1,051
Consolidated Funds    
Assets    
Cash and cash equivalents 869,305 959,088
Other assets 73,338 63,966
Investments, at fair value 12,709,020 12,844,886
Receivable for securities sold 95,079 228,442
Liabilities    
Accounts payable, accrued expenses and other liabilities 113,004 105,137
Due to affiliates 0 0
Payable for securities purchased 281,807 165,391
CLO loan obligations, at fair value 6,798,810 7,359,072
Fund borrowings 2,232,365 2,251,780
Non-controlling interests in Ares Operating Group entities $ 2,976,691 $ 2,903,858