Ares Management raised $31bn in the third quarter, putting the alternative asset manager on course for a record fundraising year as investors committed capital across private credit, real estate and infrastructure, according to a report by Reuters.
More than half of quarterly inflows came from outside credit. The credit business raised $15.2bn, while real assets attracted $11.2bn. CEO Michael Arougheti said sustained demand from institutional and wealth investors supported expectations for a strong fourth quarter.
Assets under management rose 16% to $690.6bn, while fee-related earnings increased 11% to $524.2m. Recent fundraising included around $4bn for a Japan-focused logistics development fund and $4.2bn for a debut secondaries vehicle.
Ares deployed $34.8bn during the quarter, led by US and European direct lending, alternative credit and infrastructure strategies. Uninvested capital increased 16% to $173.8bn, with management expecting investment activity to accelerate in the fourth quarter following subdued buyout activity and competition from syndicated lenders.
