Ares sees fundraising hit record high in Q2

Ares Management recorded its highest level of fundraising in the second quarter, while increased investment activity boosted fee-paying assets under management (AUM).

Michael Arougheti, chief executive and president of Ares, heralded the alternative asset manager’s “impressive results”.

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“During the quarter, we raised $26bn (£20.4bn) in capital as a growing number of institutional and high-net-worth investors are finding value in our broad offering of private market investment solutions,” he said.

This included commitments to SDL III, its sixth European direct lending fund that recently closed at a record $33.6bn.

Overall AUM rose by 18 per cent year-on-year to $447.2bn, while fee-paying AUM rose by 14 per cent year-on-year to $275.8bn, due to higher investment into its US and European direct lending and alternative credit strategies.

“In the second quarter, we experienced continued strength in the fundamental performance of our portfolios and double-digit growth across many of our key financial metrics as our investment activity accelerated,” said Jarrod Phillips, chief financial officer of Ares. “With a record amount of available capital at more than $120bn, we believe that we are well positioned to capitalize on the improving transaction environment and generate additional earnings growth.”

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