ARES - Ares Management Shines As Private Credit Attracts More Capital
2024-05-10 13:56:12 ET
Summary
- Ares Management Corporation has outperformed the broader market and other alternative asset managers, YTD.
- AUM and fee growth remain superb with an optimistic outlook.
- The private credit industry continues to attract new capital, particularly in a higher for longer rates environment.
Ares Management Corporation ( ARES ) has continued to outperform the broader market and most listed alternative asset managers since we last rated the company a "Buy" in January this year. In 1Q24 , the company's AUM (assets under management) increased to $428B, which was well ahead of the growth trajectory outlined for the year-end 2025 goal of $500B. Additionally, the company's available capital and AUM Not Yet Paying fees both reached records, up more than 27% Y/Y. We continue to believe that they are very well positioned for strong future growth as the transaction environment further improves....
Ares Management Shines As Private Credit Attracts More Capital