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Ares Posts Record $36 Billion Fundraising and Holds $170 Billion of Dry Powder

Fee-related earnings rising alongside AUM growth mean Ares can deploy its record uninvested capital into a larger investment pipeline.

Overview

  • Ares reported results on Friday, July 31, 2026, showing a record $36 billion of fundraising in Q2 and roughly $671 billion of assets under management.
  • The firm reported GAAP net income of $150.6 million, after-tax realized income of $467.6 million, and fee-related earnings of $491.1 million for the quarter.
  • Ares closed about $8.2 billion of U.S. direct lending across 69 transactions in Q2 and deployed $35.9 billion of capital in the quarter across lending, real estate and credit strategies.
  • Uninvested capital rose to a record $170 billion, which management says gives the company capacity to execute its largest forward pipeline to date.
  • To return capital and offer shareholder choice, Ares declared quarterly common and preferred dividends and launched a dividend reinvestment program effective for the September payout.