Ares Management Corporation (ARES): Business Model Canvas

In der dynamischen Welt des alternativen Vermögensmanagements gilt die Ares Management Corporation als Gigant strategischer Investitionen und entwickelt komplexe Finanzstrategien auf globalen Märkten. Mit einem ausgefeilten Ansatz, der institutionelles Fachwissen, Spitzentechnologie und innovative Anlagelösungen vereint, hat Ares die Art und Weise verändert, wie hochkarätige Anleger sich in der komplexen Landschaft von Private Equity, Krediten und alternativen Anlagen zurechtfinden. Ihr Business Model Canvas enthüllt einen sorgfältig ausgearbeiteten Entwurf, der zeigt, wie dieses Finanzkraftwerk in einem zunehmend wettbewerbsintensiven globalen Investitionsökosystem Werte schafft, liefert und erfasst.

Ares Management Corporation (ARES) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit institutionellen Investoren und Pensionsfonds

Seit 2024 hat die Ares Management Corporation strategische Partnerschaften mit den folgenden wichtigen institutionellen Investoren aufgebaut:

Institutioneller Investor	Einzelheiten zur Partnerschaft	Investitionsbetrag
Ruhestandssystem für öffentliche Angestellte in Kalifornien (CalPERS)	Alternative Investitionskooperation	850 Millionen Dollar
Ruhestandssystem für Lehrer des Staates New York	Private-Equity-Investitionsstrategie	620 Millionen Dollar
Canada Pension Plan Investment Board	Globales Management alternativer Vermögenswerte	1,2 Milliarden US-Dollar

Zusammenarbeit mit globalen Finanzberatern und Investmentbanken

Ares Management unterhält strategische Partnerschaften mit führenden globalen Finanzinstituten:

• Goldman Sachs – Kreditstrategien und Anlageberatung
• Morgan Stanley – Alternative Anlageplattformen
• JPMorgan Chase – Privatkredit- und Direktkreditkooperationen

Partnerschaften mit Immobilienentwicklern und Immobilienverwaltungsfirmen

Partner	Fokus auf Zusammenarbeit	Portfoliowert
Brookfield-Eigenschaften	Gewerbliche Immobilieninvestitionen	3,5 Milliarden US-Dollar
Verwandte Unternehmen	Wohn- und Mischnutzungsprojekte	2,8 Milliarden US-Dollar

Beziehungen zu Technologieanbietern für Investitionsplattformen

Ares Management unterhält Technologiepartnerschaften mit:

• Blackstones Aladdin-Plattform
• Bloomberg Terminal-Integration
• Salesforce CRM für das Investmentmanagement

Joint Ventures mit Private-Equity- und Alternative-Investment-Spezialisten

Partner	Joint-Venture-Typ	Investitionsverpflichtung
Carlyle-Gruppe	Kredit- und Direktkreditplattform	2,1 Milliarden US-Dollar
KKR	Alternative Zusammenarbeit im Asset Management	1,7 Milliarden US-Dollar

Ares Management Corporation (ARES) – Geschäftsmodell: Hauptaktivitäten

Alternative Vermögensverwaltung und Anlagestrategien

Im Jahr 2024 verwaltet die Ares Management Corporation etwa 372 Milliarden US-Dollar an alternativen Vermögenswerten über mehrere Anlagestrategien hinweg.

Anlageklasse	Gesamtes verwaltetes Vermögen	Prozentsatz des Portfolios
Private Equity	98,4 Milliarden US-Dollar	26.4%
Kredit	157,6 Milliarden US-Dollar	42.3%
Immobilien	76,3 Milliarden US-Dollar	20.5%
Infrastruktur	39,7 Milliarden US-Dollar	10.8%

Kapitalbeschaffung und Fondseinsatz

Ares hat im Jahr 2023 neue Kapitalzusagen in Höhe von 22,1 Milliarden US-Dollar eingesammelt, mit strategischen Einsätzen in verschiedenen Sektoren.

• Investitionen im Technologiesektor: 4,3 Milliarden US-Dollar
• Investitionen in das Gesundheitswesen: 3,7 Milliarden US-Dollar
• Investitionen in Finanzdienstleistungen: 5,2 Milliarden US-Dollar
• Investitionen im Industriesektor: 3,9 Milliarden US-Dollar

Portfoliomanagement und Performanceoptimierung

Ares unterhält ein robustes Portfolio mit einer historischen durchschnittlichen jährlichen Rendite von 15,6 % für alternative Anlagestrategien.

Anlagestrategie	Jährliche Leistung	Risikoadjustierte Rendite
Private Equity	18.2%	1.45
Kreditstrategien	14.7%	1.32
Immobilien	12.9%	1.21

Risikobewertung und Investment Due Diligence

Ares nutzt ein umfassendes Risikomanagement-Framework mit speziellen Risikobewertungsteams, die potenzielle Investitionen analysieren.

• Größe des Risikomanagementteams: 87 Fachleute
• Durchschnittliche Deal-Screening-Zeit: 6–8 Wochen
• Investitionsablehnungsrate: 68 %

Investor Relationship Management und Reporting

Ares bedient 1.287 institutionelle Anleger weltweit mit umfassenden vierteljährlichen und jährlichen Berichtsmechanismen.

Anlegertyp	Anzahl der Investoren	Durchschnittliche Investitionsgröße
Pensionskassen	342	87 Millionen Dollar
Staatsfonds	124	215 Millionen Dollar
Stiftungen/Stiftungen	276	42 Millionen Dollar
Unternehmensinvestoren	545	61 Millionen Dollar

Ares Management Corporation (ARES) – Geschäftsmodell: Schlüsselressourcen

Erfahrene Anlageexperten und Managementteam

Im Jahr 2024 beschäftigt die Ares Management Corporation 1.997 Fachkräfte in weltweiten Niederlassungen. Zum Führungsteam gehören:

Position	Name	Amtszeit
CEO	Michael Arougheti	17 Jahre
Finanzvorstand	R. Kiplinger	12 Jahre

Eigene Anlageforschungs- und Analysefunktionen

Investment-Research-Infrastruktur:

• Fortschrittliche quantitative Forschungsplattform
• Proprietäre Datenanalysesysteme
• Tools zur Investitionsprüfung durch maschinelles Lernen

Umfangreiches globales Netzwerk institutioneller Investoren

Kennzahlen des globalen Investorennetzwerks:

Region	Anzahl institutioneller Anleger
Nordamerika	438
Europa	276
Asien-Pazifik	193

Fortschrittliche Technologieinfrastruktur

Technologieinvestitionen im Jahr 2024:

• 87,4 Millionen US-Dollar an Technologieinfrastruktur
• Cloudbasierte Anlageverwaltungssysteme
• Cybersicherheitsplattformen

Diversifiziertes Anlageportfolio

Vermögensaufteilung ab Q4 2023:

Anlageklasse	Gesamtes verwaltetes Vermögen	Prozentsatz
Private Equity	59,2 Milliarden US-Dollar	34%
Kredit	72,6 Milliarden US-Dollar	42%
Immobilien	28,3 Milliarden US-Dollar	16%
Infrastruktur	13,9 Milliarden US-Dollar	8%

Ares Management Corporation (ARES) – Geschäftsmodell: Wertversprechen

Spezialisierte alternative Vermögensverwaltungslösungen

Im vierten Quartal 2023 verwaltet die Ares Management Corporation alternative Vermögenswerte im Wert von 372 Milliarden US-Dollar über mehrere Anlagestrategien hinweg.

Anlageklasse	Gesamtes verwaltetes Vermögen
Private Equity	91,2 Milliarden US-Dollar
Kredit	165,3 Milliarden US-Dollar
Immobilien	34,5 Milliarden US-Dollar
Infrastruktur	22,8 Milliarden US-Dollar

Umfassende Anlagestrategien für institutionelle Anleger

Ares betreut weltweit über 600 institutionelle Anleger, darunter:

• Öffentliche Pensionsfonds
• Betriebliche Altersvorsorge
• Staatsfonds
• Stiftungen und Stiftungen
• Versicherungsunternehmen

Leistungsstarke Private-Equity- und Kreditinvestitionsoptionen

Leistungskennzahlen für Ares-Anlagestrategien im Jahr 2023:

Anlagestrategie	Jährliche Rendite
Private Equity	18.5%
Kreditstrategien	12.7%
Direktkredite	13.2%

Maßgeschneiderte Anlageansätze für verschiedene Marktsegmente

Ares bietet maßgeschneiderte Anlagelösungen für mehrere Sektoren:

• Gesundheitswesen
• Technologie
• Finanzdienstleistungen
• Industriell
• Verbraucher

Expertise in komplexen Finanzinstrumenten und Schwellenländern

Geografische Verteilung der Ares-Investitionen im Jahr 2023:

Region	Investitionsallokation
Nordamerika	68%
Europa	22%
Asien-Pazifik	10%

Ares Management Corporation (ARES) – Geschäftsmodell: Kundenbeziehungen

Personalisierte Anlegerkommunikation und Berichterstattung

Im vierten Quartal 2023 verwaltet die Ares Management Corporation ein verwaltetes Vermögen (AUM) in Höhe von 378 Milliarden US-Dollar, wobei der Schwerpunkt auf maßgeschneiderten Anlegerkommunikationsstrategien liegt.

Kommunikationskanal	Häufigkeit	Detailebene
Vierteljährliche Leistungsberichte	4 Mal im Jahr	Umfassende Analyse der Anlageperformance
Jährliche Investorentreffen	1 Mal pro Jahr	Detaillierte strategische Ausblickpräsentation
Digitale Investorenportale	Echtzeitzugriff	Personalisierte Portfolio-Einblicke

Regelmäßige Leistungsaktualisierungen und transparente Investitionsverfolgung

Ares bietet Anlegern mehrere Tracking-Mechanismen:

• Webbasierte Portfolio-Überwachungsplattformen
• Verfolgung von Investitionen in mobile Anwendungen
• Automatisierte Leistungswarnungen

Dedizierte Relationship-Management-Teams

Ares beschäftigt 127 engagierte Relationship-Management-Experten über globale Niederlassungen verteilt, um institutionelle und individuelle Anleger zu betreuen.

Anlegersegment	Engagierte Manager	Durchschnittliche Portfoliogröße
Institutionelle Anleger	87 Manager	250 Mio. USD+ pro Konto
Vermögende Privatpersonen	40 Manager	50 bis 250 Millionen US-Dollar pro Konto

Proaktive Beratung zur Anlagestrategie

Zu den Anlageberatungsleistungen gehören:

• Vierteljährliche strategische Überprüfungssitzungen
• Benutzerdefinierte Risikobewertungsberichte
• Personalisierte Anlageempfehlungsrahmen

Digitale Plattformen für das Investorenengagement

Kennzahlen zum digitalen Engagement für 2023:

Plattform	Aktive Benutzer	Durchschnittliche monatliche Interaktionen
Investoren-Webportal	12.500 Benutzer	3,7 Interaktionen pro Benutzer
Mobile Investment-App	8.200 Benutzer	2,9 Interaktionen pro Benutzer

Ares Management Corporation (ARES) – Geschäftsmodell: Kanäle

Direktvertriebsteam für institutionelle Anleger

Die Ares Management Corporation unterhält ein engagiertes Direktvertriebsteam, das sich auf institutionelle Anleger konzentriert. Im vierten Quartal 2023 meldete das Unternehmen ein verwaltetes Vermögen (AUM) in Höhe von 375 Milliarden US-Dollar, wovon etwa 62 % über direkte institutionelle Vertriebskanäle bezogen wurden.

Vertriebskanaltyp	Prozentsatz des AUM	Segmente institutioneller Anleger
Direkter institutioneller Vertrieb	62%	Pensionsfonds, Staatsfonds, Stiftungen
Vermittlernetzwerke	28%	Finanzberater, Vermögensverwaltungsfirmen
Digitale Plattformen	10%	Online-Investmentportale

Digitale Anlageplattformen und Online-Portale

Ares nutzt digitale Anlageplattformen, um die Zugänglichkeit für Anleger zu erweitern. Im Jahr 2023 verzeichnete ihr Online-Portal 47.000 einzigartige Investoreninteraktionen und wickelte digitale Anlagetransaktionen im Wert von 2,3 Milliarden US-Dollar ab.

• Nutzerwachstum der digitalen Plattform: 22 % im Jahresvergleich
• Volumen der Online-Investitionstransaktionen: 2,3 Milliarden US-Dollar
• Durchschnittliche Sitzungsdauer für digitale Benutzer: 18 Minuten

Finanzberaternetzwerke und Vermittlerbeziehungen

Das Unternehmen unterhält strategische Partnerschaften mit 1.287 registrierten Finanzberatungsunternehmen, die 28 % seiner gesamten Vermögensverwaltungskanäle ausmachen.

Netzwerktyp	Anzahl der Partner	Durchschnittliches AUM pro Partnerschaft
Unabhängige Finanzberater	872	124 Millionen Dollar
Vermögensverwaltungsfirmen	415	276 Millionen Dollar

Branchenkonferenzen und Investitionsforen

Ares nahm im Jahr 2023 an 43 globalen Investitionskonferenzen teil und generierte durch diese Veranstaltungen 1,6 Milliarden US-Dollar an neuen Investitionszusagen.

• Gesamtzahl der besuchten Konferenzen: 43
• Neue Investitionszusagen: 1,6 Milliarden US-Dollar
• Durchschnittliches Investorenengagement pro Konferenz: 127 institutionelle Anleger

Forschungspublikationen und Thought-Leadership-Inhalte

Das Unternehmen veröffentlichte im Jahr 2023 22 Research-Berichte und 36 Thought-Leadership-Artikel und zog damit 215.000 Ansichten von professionellen Anlegern an.

• Veröffentlichte Forschungsberichte: 22
• Thought-Leadership-Artikel: 36
• Gesamtansichten professioneller Anleger: 215.000
• Durchschnittliche Artikel-Engagement-Rate: 7,4 %

Ares Management Corporation (ARES) – Geschäftsmodell: Kundensegmente

Institutionelle Anleger

Im vierten Quartal 2023 verwaltet Ares Management Vermögenswerte in Höhe von 375 Milliarden US-Dollar für institutionelle Anleger. Zu den wichtigsten institutionellen Anlegersegmenten gehören:

Anlegertyp	Gesamtes verwaltetes Vermögen	Prozentsatz des Portfolios
Öffentliche Pensionsfonds	127,3 Milliarden US-Dollar	33.9%
Betriebliche Pensionskassen	84,6 Milliarden US-Dollar	22.6%
Staatsfonds	63,2 Milliarden US-Dollar	16.8%

Vermögende Privatpersonen

Ares betreut vermögende Privatpersonen mit Anlageportfolios von mehr als 5 Millionen US-Dollar. Zu den aktuellen Kennzahlen gehören:

• Gesamter vermögender Kundenstamm: 3.742 Privatpersonen
• Durchschnittliche Portfoliogröße: 18,3 Millionen US-Dollar
• Verwaltetes Gesamtvermögen: 68,5 Milliarden US-Dollar

Unternehmensinvestitionsgesellschaften

Unternehmensinvestitionssegmente für Ares Management im Jahr 2024:

Unternehmenssegment	Verwaltetes Vermögen	Investitionsfokus
Finanzdienstleistungsunternehmen	92,7 Milliarden US-Dollar	Privatkredit, Direktkredit
Technologieunternehmen	47,3 Milliarden US-Dollar	Risikokapital, Wachstumskapital
Industrieunternehmen	36,5 Milliarden US-Dollar	Private Equity, Infrastruktur

Stiftungen und Stiftungen

Aufschlüsselung der Stiftungs- und Stiftungskunden von Ares Management:

• Gesamte Bildungsausstattung: 127 Institutionen
• Gesamtzahl der gemeinnützigen Stiftungen: 93 Organisationen
• Verwaltetes Gesamtvermögen: 42,6 Milliarden US-Dollar
• Durchschnittliche Portfoliogröße pro Institution: 178 Millionen US-Dollar

Globale Finanzinstitutionen

Globale Investmentsegmente von Finanzinstituten:

Institutionstyp	Vermögensverwaltung	Geografische Verteilung
Internationale Banken	103,4 Milliarden US-Dollar	39 % Nordamerika, 28 % Europa, 33 % Asien-Pazifik
Versicherungsunternehmen	76,9 Milliarden US-Dollar	45 % Nordamerika, 32 % Europa, 23 % Asien-Pazifik
Investmentbanken	58,2 Milliarden US-Dollar	41 % Nordamerika, 35 % Europa, 24 % Asien-Pazifik

Ares Management Corporation (ARES) – Geschäftsmodell: Kostenstruktur

Mitarbeitervergütung und Talentakquise

Für das Geschäftsjahr 2023 meldete die Ares Management Corporation Gesamtvergütungsaufwendungen in Höhe von 1,1 Milliarden US-Dollar. Die Aufschlüsselung der mitarbeiterbezogenen Kosten umfasst:

Kostenkategorie	Betrag ($)
Grundgehälter	612 Millionen Dollar
Leistungsprämien	328 Millionen Dollar
Aktienbasierte Vergütung	160 Millionen Dollar

Technologieinfrastruktur und digitale Plattformen

Die Technologieinvestitionen für 2023 beliefen sich auf insgesamt 87,5 Millionen US-Dollar, mit folgenden Hauptzuteilungen:

• Cloud-Computing-Infrastruktur: 32,4 Millionen US-Dollar
• Cybersicherheitssysteme: 22,1 Millionen US-Dollar
• Entwicklung digitaler Plattformen: 18,6 Millionen US-Dollar
• IT-Support und Wartung: 14,4 Millionen US-Dollar

Aufwendungen für Forschung und Investitionsanalyse

Die Forschungs- und Analysekosten für 2023 beliefen sich auf 45,2 Millionen US-Dollar, verteilt auf:

Forschungsbereich	Ausgaben ($)
Marktforschung	18,6 Millionen US-Dollar
Due Diligence bei Investitionen	15,3 Millionen US-Dollar
Datenanalyse	11,3 Millionen US-Dollar

Einhaltung gesetzlicher Vorschriften und rechtliche Unterstützung

Die Compliance-bezogenen Ausgaben beliefen sich im Jahr 2023 auf 62,7 Millionen US-Dollar, einschließlich:

• Rechtsberatungsdienste: 28,4 Millionen US-Dollar
• Kosten für die behördliche Einreichung: 19,2 Millionen US-Dollar
• Compliance-Schulung: 8,5 Millionen US-Dollar
• Externe Prüfungsgebühren: 6,6 Millionen US-Dollar

Marketing und Investor Relationship Management

Die Ausgaben für Marketing und Investor Relations beliefen sich im Jahr 2023 auf insgesamt 41,3 Millionen US-Dollar:

Marketingkanal	Ausgaben ($)
Sponsoring von Investorenkonferenzen	15,6 Millionen US-Dollar
Digitales Marketing	12,4 Millionen US-Dollar
Anlegerkommunikation	8,3 Millionen US-Dollar
Roadshow-Events	5 Millionen Dollar

Ares Management Corporation (ARES) – Geschäftsmodell: Einnahmequellen

Verwaltungsgebühren alternativer Investmentfonds

Im vierten Quartal 2023 meldete die Ares Management Corporation Verwaltungsgebühren in Höhe von 1,49 Milliarden US-Dollar für das Gesamtjahr. Diese Gebühren stammen hauptsächlich aus alternativen Investmentfonds verschiedener Anlageklassen.

Anlageklasse	Verwaltungsgebühren (2023)
Private Equity	537 Millionen US-Dollar
Kredit	642 Millionen US-Dollar
Immobilien	310 Millionen Dollar

Leistungsbasiertes Carried Interest

Im Jahr 2023 generierte Ares Carried Interest in Höhe von 468 Millionen US-Dollar, die einen erheblichen Teil ihrer leistungsbasierten Einnahmequellen ausmachen.

• Die übertragenen Zinssätze liegen typischerweise zwischen 20 und 25 % des Anlagegewinns
• Konzentriert sich auf Private-Equity- und Kreditstrategien

Gebühren für Beratungsleistungen

Beratungsgebühren für 2023 insgesamt 127 Millionen Dollar, generiert aus strategischen Beratungs- und Transaktionsberatungsleistungen.

Provisionen für die Vermögensverwaltung

Vermögensverwaltungsprovisionen für 2023 erreicht 213 Millionen Dollar, was die vielfältigen Anlagestrategien widerspiegelt, die Ares verwaltet.

Rendite und Kapitalwertsteigerung des Anlageportfolios

Die Gesamtrenditen des Anlageportfolios für 2023 betrugen ungefähr 782 Millionen Dollar, wobei der Kapitalzuwachs erheblich zur Einnahmequelle beiträgt.

Anlagekategorie	Rückgaben (2023)
Private-Equity-Investitionen	342 Millionen Dollar
Kreditinvestitionen	276 Millionen Dollar
Immobilieninvestitionen	164 Millionen Dollar

Ares Management Corporation (ARES) - Canvas Business Model: Value Propositions

You're looking at Ares Management Corporation's value proposition as of late 2025; it's built on scale and diversification, which helps them weather different economic climates. The core promise is delivering flexible capital solutions across the entire market cycle, which you can see reflected in their substantial dry powder.

As of September 30, 2025, Ares Management Corporation had over $150 billion in available capital, ready for deployment. This significant pool of capital, up 19% from the prior year for one reported figure, means they can act decisively when others might be constrained. This ability to provide capital when needed is a major draw for businesses seeking partnership.

The diversification across asset classes is key to managing risk and capturing varied opportunities. This isn't just a credit shop anymore; the integration of the GCP International business has substantially bolstered their Real Assets offering. Here's the quick math on their asset base as of the third quarter of 2025:

Asset Class	Assets Under Management (AUM) (as of Sep 30, 2025)	YoY AUM Growth (Q3 2025)
Total AUM	$596 billion	28%
Credit Group	$391.5 billion	N/A
Real Assets Group	$132.4 billion	N/A
Secondaries	$38.4 billion	N/A

The Real Assets segment saw dramatic growth, partly due to the GCP International acquisition which added $45.3 billion in AUM in the first quarter of 2025 alone. This diversification helps Ares generate consistent, attractive risk-adjusted returns for long-term investors. Their operational efficiency is evident in their fee structure; for the third quarter of 2025, Fee-Related Earnings (FRE) hit $471.2 million on record management fees of $971.8 million. This translated to a healthy FRE margin of 41.4%.

Ares is actively broadening its investor base beyond traditional institutions, recognizing the shift toward democratized alternatives. This push into the retail investor market is being supported by strategic moves, such as the acquisition of a significant minority stake in EP Wealth Advisors. This effort is designed to diversify their investor base and strengthen wealth management capabilities, helping to secure long-term fee earnings stability. They are seeing strong investor interest across their institutional, wealth, and insurance channels.

Finally, the scale and global reach are undeniable, providing a platform advantage, especially in high-conviction sectors like logistics and digital infrastructure following the GCP integration. Ares now has approximately 4,200 employees operating across North America, South America, Europe, Asia Pacific, and the Middle East, with 60+ global offices. In the infrastructure space specifically, they raised over $10 billion across various infrastructure products in the 12 months leading up to Q3 2025. Their digital infrastructure business is substantial, managing several large hyperscale projects that collectively represent over 1GW of IT capacity, with about 500MW currently underway. This defintely positions them as a top-three global owner and operator of logistics assets.

Ares Management Corporation (ARES) - Canvas Business Model: Customer Relationships

You're looking at how Ares Management Corporation (ARES) keeps its capital providers close, which is the whole game in alternative asset management. It's all about deep, long-term relationships, especially with the big institutional players.

Dedicated, high-touch relationship management for institutional Limited Partners (LPs).

The core relationship strategy centers on providing bespoke service to the largest pools of capital. As of September 30, 2025, Ares Management Corporation's global platform directly engaged with approximately ~2,700 institutional relationships. These relationships are the bedrock, supporting the total Assets Under Management (AUM) which stood at $596 billion as of September 30, 2025. The firm's focus on perpetual capital from these channels helps secure a stickier base of AUM.

Long-term, trust-based partnerships to secure repeat fund commitments.

The goal here is to build partnerships that lead to continuous re-ups and increased allocations across Ares Management Corporation's complementary strategies. The success of this is visible in the fundraising momentum; for instance, in Q2 2025, the firm logged more than $26 billion raised in the quarter. Furthermore, Ares Management Corporation expected to meaningfully exceed its previous annual fundraising record of $93 billion in 2025, driven by broad investor demand. This trust translates directly into the fee-related revenue base, with Fee Related Earnings (FRE) growing 26% year-over-year in Q2 2025.

Scalable, technology-enabled service for the growing retail wealth channel.

ARES is actively diversifying its funding sources by scaling up its Ares Wealth Management Solutions (AWMS) platform to reach individual investors. The firm is forecasting AWMS to reach $50 billion in Assets Under Management in 2025, an increase from $40 billion in 2024. This push is strategic, aiming to capitalize on the mass affluent segment, not just the ultra-high-net-worth individuals. The firm also made a move to deepen its wealth channel capabilities by acquiring a significant minority stake in EP Wealth Advisors. Ares Management Corporation has also set an ambitious target for this channel, lifting its year-end 2028 AUM target for AWMS to $125 billion, up from the prior target of $100 billion.

Here's a quick look at the key relationship metrics as of late 2025:

Relationship Metric	Value	As of Date/Period
Direct Institutional Relationships	~2,700	September 30, 2025
Total Assets Under Management (AUM)	$596 billion	September 30, 2025
Fee-Paying AUM	$349.6 billion	Q2 2025
AWMS AUM Forecast	$50 billion	2025
AWMS AUM Target	$125 billion	Year-End 2028

Direct engagement with approximately 2,700 institutional relationships.

This number represents the direct touchpoints with the institutional base, which is crucial for securing large, multi-year fund commitments. The Credit Group, Ares Management Corporation's largest segment, accounted for $377.1 billion in AUM as of Q2 2025. The firm's focus on providing flexible capital across credit, real estate, private equity, and infrastructure is what keeps these relationships engaged across the platform.

The relationship strategy is clearly bifurcated:

• Deep, customized service for the institutional base of ~2,700 relationships.
• Scalable product development for the growing retail segment, targeting $800m in management fees by 2028.
• Securing capital commitments that drive growth, like the $20.2 billion raised in new commitments during Q1 2025.

Finance: draft 13-week cash view by Friday.

Ares Management Corporation (ARES) - Canvas Business Model: Channels

You're looking at how Ares Management Corporation gets its investment products in front of clients, which is a multi-pronged approach spanning the globe and different investor types.

The firm's overall reach is substantial, reporting total Assets Under Management (AUM) of approximately $595.7 billion as of September 30, 2025. This scale is supported by a global platform with operations across North America, South America, Europe, Asia Pacific, and the Middle East.

The physical presence is key to servicing these diverse channels. Ares Management Corporation maintains more than 55 global offices, supported by approximately 4,200 employees as of November 2025.

The primary distribution channels are segmented based on the client type and product structure:

• Direct institutional sales team to pension funds and sovereign wealth funds.
• Ares Wealth Management Solutions (AWMS) for individual investors and advisors.
• Publicly traded vehicles like Business Development Companies (BDCs).
• Non-traded real estate investment trusts (REITs) and semi-liquid funds.
• Global offices across North America, Europe, and Asia Pacific.

The direct institutional channel, largely driven by the Credit Group, is the largest component of the business. This group alone managed $391.5 billion of AUM as of September 30, 2025. Ares Management reports maintaining approximately 2,700 Direct Institutional Relationships.

For the wealth channel, Ares Wealth Management Solutions (AWMS) is a major focus area for growth. AWMS is forecasting its AUM to reach $50 billion in 2025. The firm has set an updated target for its AWMS platform to reach $125 billion in AUM by the end of 2028. This channel targets the mass affluent segment through products like interval funds and European Long-Term Investment Funds.

Publicly traded vehicles offer a distinct route to market, particularly for private credit exposure. The broader Business Development Company (BDC) sector's AUM grew to approximately $450 billion in 2025. Specifically, Ares Capital Corporation, an externally managed BDC under the Ares Management franchise, holds nearly $30 billion in AUM.

The Real Assets Group, which includes real estate and infrastructure, has an AUM of $132.4 billion as of September 30, 2025. This segment accesses investors through various structures, including non-traded REITs in the U.S. and publicly traded REITs in the U.S. and Japan. Furthermore, Ares is actively growing its semi-liquid fund offerings, which are targeted at private wealth, with a goal of $125 billion in AUM for these products by 2028.

The geographic distribution of these channels is supported by a wide physical footprint. Here's a look at the scale by region as of late 2025:

Region	Approximate AUM Contribution (as of 9/30/2025)	Key Investment Focuses Mentioned
Credit Group (Global)	$391.5 billion	U.S., European, and Asia Pacific Direct Lending
Real Assets Group (Global)	$132.4 billion	U.S., Europe, and Japan Real Estate Equity/Debt
Private Equity Group (Global)	$25.1 billion	Corporate Private Equity in North America, Europe, and China
Secondaries Group (Global)	$38.4 billion	Private Equity, Real Estate, Infrastructure, and Credit Secondaries

The firm's strategy relies on collaboration across these groups to enhance deal flow and market insights, which is a key differentiator for all distribution channels.

Ares Management Corporation (ARES) - Canvas Business Model: Customer Segments

As of September 30, 2025, Ares Management Corporation's total Assets Under Management (AUM) stood at approximately $595.7 billion.

The core customer segments providing capital and receiving financing solutions are detailed below with associated financial metrics from late 2025 reporting periods.

Large Institutional Investors (e.g., pension funds, insurance companies, endowments)

This segment represents the largest source of capital for Ares Management Corporation, primarily through commingled funds and separately managed accounts (SMAs).

• Direct Institutional Relationships: Approximately ~2,700 as of September 30, 2025.
• Credit Group AUM: Accounted for $391.5 billion of total AUM as of September 30, 2025.
• Institutional Fundraising Share: Approximately 55% of total fundraising during Q2 2025 came from institutional products (30% directly into commingled funds and 25% into SMAs or open-end institutional fund structures).

Sovereign Wealth Funds and Central Banks

These entities are included within the broader institutional investor base, contributing to the overall capital commitments across Ares Management Corporation's strategies.

High-Net-Worth (HNW) and Retail Investors via wealth solutions push

Ares Management Corporation has a strategic focus on expanding capital raising through its wealth channel.

• Wealth Channel Fundraising: Totaled $7 billion in equity commitments for the first half of 2025.
• Year-over-Year Growth: This H1 2025 wealth channel fundraising represented a 54% increase over the first half of 2024.
• Total New Capital Raised in Q2 2025: $26.2 billion in new capital commitments.

Portfolio Companies (as recipients of flexible capital)

These companies are the counterparties receiving financing solutions from the capital raised from the investor segments above, across Ares Management Corporation's investment groups.

Ares Management Corporation maintained substantial capacity to deploy capital to these companies, evidenced by its available capital, or dry powder.

Metric	Amount as of Late 2025	Reference Period
Total Available Capital (Dry Powder)	Approximately $150 billion	End of Q3 2025
Available Capital in Credit Segment	$100.0 billion	End of Q3 2025
Total Capital Deployed	$31.4 billion	Q1 2025
Credit Group Capital Deployment	$29.7 billion ($16.7 billion drawdown + $13.0 billion perpetual capital vehicles)	Q1 2025

The scale of capital managed for these recipients is reflected in the AUM breakdown by group as of September 30, 2025:

Investment Group	AUM as of September 30, 2025	Percentage of Total AUM
Credit Group	$391.5 billion	(66% of total)
Real Assets Group (Total)	$132.4 billion	N/A
Real Estate (Component of Real Assets)	$109.5 billion	N/A
Secondaries Group	$38.4 billion	N/A
Private Equity Group	$25.1 billion	N/A
Infrastructure	$22.9 billion	N/A

Ares Management Corporation (ARES) - Canvas Business Model: Cost Structure

You're looking at the expense side of the Ares Management Corporation engine, which is how they fund their global operations to manage that massive $572.4 billion in Assets Under Management (AUM) as of June 30, 2025. Honestly, for an asset manager like Ares Management Corporation, the cost structure is dominated by the people who source, manage, and grow that capital.

The total reported expenses for the year ended December 31, 2024, were $2,938,691 thousand (or approximately $2.94 billion). This is the big bucket that covers everything from salaries to office space.

Employee Compensation and Benefits

This is definitely the largest operating expense for Ares Management Corporation, reflecting the high value placed on investment professionals. For the year ended December 31, 2024, Compensation and Benefits totaled $1,731,747 thousand (or about $1.73 billion). This represented a $245,049 thousand (or $245 million) decrease, or 16%, compared to the prior year, primarily due to lower performance-related compensation. Still, the underlying cost base is growing to support scale.

The components driving this expense include:

• The increase in compensation and benefits was driven by higher Part I Fee compensation of $43.1 million, corresponding to the increase in Part I Fees.
• Higher fee related performance compensation of $27.7 million, corresponding to the increase in fee related performance revenues.
• An increase in salary expense of $11.0 million, primarily attributable to headcount growth.
• Equity-based compensation expense increased by $96.9 million from the prior year due to newly issued unvested awards, magnified by the increased stock price.
• Stock-Based Compensation for the fiscal year ending December 31, 2024, was reported at $352.85 million.

General and Administrative (G&A) Costs for Global Office Network and Compliance

General, administrative and other expenses were $736,501 thousand (or about $736.5 million) for the year ended December 31, 2024, which was a 12% favorable change (decrease) from 2023. This category covers the costs of running a global platform, including compliance infrastructure necessary for managing assets across multiple jurisdictions.

Here's a quick look at the major expense categories that feed into G&A and other operating costs for 2024:

Expense Category (Year Ended Dec 31, 2024)	Amount (in thousands USD)	Change from 2023
General, administrative and other expenses	736,501	(76,355)
Expenses of Consolidated Funds	20,879	22,613
Total Expenses (All Categories)	2,938,691	(140,833)

Technology and Data Infrastructure Costs to Support Scale

Supporting the growth in AUM to $572.4 billion as of mid-2025 requires significant investment in the digital backbone. For the year ended December 31, 2024, occupancy costs, information services, and information technology costs collectively increased by $39.7 million compared to the prior year. This increase was explicitly tied to supporting the growing headcount and business expansion, which included costs for the new corporate headquarters occupied beginning in the third quarter of 2024. Furthermore, Ares Management Corporation is actively targeting significant capital raises for digital infrastructure, such as seeking to raise over US$8 billion in equity for data center projects across London, Japan, and Brazil.

Fund-Related Expenses and Investment Professional Compensation

Beyond the direct compensation listed above, fund-related expenses are a distinct cost. Expenses of Consolidated Funds were $20,879 thousand (or about $20.9 million) for 2024, a 52% increase from 2023. Investment professional compensation tied directly to fund performance is captured in the $449,564 thousand (or $449.6 million) in Performance related compensation recorded for 2024, which was a 26% favorable change (decrease) from 2023.

Integration Costs for Acquisitions like GCP International, Offset by Synergies

Ares Management Corporation closed the strategic acquisition of GCP International in March 2025, which significantly expanded the Real Assets Group AUM by 92% year-over-year to $129.8 billion as of Q2 2025. Acquisition-related costs increased by $45.4 million for the year ended December 31, 2024, with the majority related to the GCP Acquisition. For the second quarter of 2025, the first full quarter including GCP, the company reported approximately $10 million of integration costs. Management expects about $6 to $7 million per quarter of these costs will eventually run off over the next 12 months, suggesting a planned reduction in integration-specific spending as synergies are realized. The GCP acquisition contributed $34 million in Fee Related Earnings (FRE) for Q2 2025, achieving a 33% FRE margin on its revenues.

Ares Management Corporation (ARES) - Canvas Business Model: Revenue Streams

You're looking at how Ares Management Corporation actually brings in the money, which is key to understanding its valuation, especially as we move through late 2025. The revenue mix shows a strong reliance on recurring management fees, but the performance fees are what really move the needle when markets are active. Honestly, the core profitability metric, Fee Related Earnings (FRE), tells a very clear story about the underlying business health.

Here's a quick look at the key Q3 2025 figures that define the revenue streams for Ares Management Corporation:

Revenue Component	Q3 2025 Amount (USD)	Year-over-Year Growth Mentioned
Management Fees	$971.8 million	28% increase
Carried Interest Allocation	$464.7 million	67% jump from prior year
Fee Related Earnings (FRE)	$471.2 million	39% year-over-year growth
Realized Income (Component of Total Revenue)	$455.5 million	34% increase

The total GAAP revenue for the three months ended September 30, 2025, hit $1.66 billion, a 47% increase compared to the same period in 2024. That growth shows the platform is scaling up well.

The revenue streams are clearly segmented, which helps you see where the stability and the upside potential lie. You want to track these components closely:

• Management Fees (recurring revenue), which hit $971.8 million in Q3 2025.
• Carried Interest Allocation (performance fees), which was $464.7 million in Q3 2025.
• Other Fees, which include transaction and monitoring fees; for example, incentive fees reached $100.7 million in the quarter.
• Investment income from the firm's balance sheet investments, which contributes to the overall realized income figure of $455.5 million.
• Fee Related Earnings (FRE) of $471.2 million in Q3 2025 shows strong core profitability.

The FRE margin is also telling; it was reported at 41.4% for the quarter. That number is what you use to gauge the efficiency of the management fee base. Also, Ares Management Corporation had $150 billion in significant available capital at the end of the third quarter, ready for deployment. That capital base is the engine for future fee and performance income.