2024-07-31 07:15:07 ET
Summary
- Competitor Blackstone reported great performances in their private credit segment, boosting optimism for credit-focus asset managers such as Ares.
- During the course of the quarter, the firm reiterated its high expectations for AUM growth, with management expecting AUM to be up 75% by 2028.
- Due to strong profitability, growth in fundamentals, and operating in a growing industry, I rate Ares as a buy ahead of earnings.
Ares Management Corporation ( ARES ) is the fourth largest US firm with asset management activities as its core business. ARES was founded in 1997, and accumulates a market cap of approximately $45.5 billion, together with trailing revenues of $3.526 billion and a total AUM of $428 billion ....
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Ares: Will It Follow Blackstone's Performance In Q2? (Earnings Preview)