Alternative investment manager Ares Management’s assets under management (AUM) surpassed $600bn (£442bn) in the fourth quarter of 2025, its results show.
The firm raked in $35.9bn in new gross capital during Q4, boosting its AUM to $622.5bn – taking it closer to its target of hitting $750bn in AUM by 2028.
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Demand from institutional investors for private credit investments has been rising over the past few months, with Ares reporting strong fundraising last year.
“Robust investor demand across all three of our channels is continuing and we expect another strong year of fundraising which could match or exceed our record levels from 2025,” said chief executive Michael Arougheti.
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Ares deployed $45.8bn of capital in the fourth quarter, mostly dedicated to US and European direct lending, real estate and alternative credit.
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