Ares Management Corp. Raises Record $133 Billion in 2024 Amidst Strong Credit Demand
Demand for credit investments surged in 2024, propelling Ares Management Corp.'s fundraising to a record high of $133 billion. The figure represents the firm's largest war chest to date.
Ares' new capital inflows totaled $92.7 billion last year, a 25% increase from 2023. Direct lending and opportunistic credit funds fueled the growth with significant commitments.
"With this record fundraise, Ares has $133 billion of dry powder, positioning us to invest opportunistically across various asset classes," said Jarrod Phillips, Ares' CFO.
Ares reported $1.3 billion in quarterly revenue, a 19% year-over-year increase. Fee-related earnings rose 7% to $396.2 million.
Credit-dedicated fundraising remains strong in 2025. Ares recently raised €30 billion for its latest European direct lending fund, the largest of its kind in the region. The firm secured $69.1 billion in its credit group in 2024.
"Heading into 2025, we anticipate a more active transaction environment, creating additional investment opportunities for our platform," said Michael Arougheti, Ares' CEO.
Ares' Asia-Pacific credit strategy delivered a 27.2% return in 2024, its highest result, with all credit strategies generating double-digit returns. Its corporate private equity segment returned 2.4%.