Ares Management Announces Strong Q3 2024 Results and Dividend

Summary

Ares Management Corporation reported its financial results for the third quarter ended September 30, 2024, with GAAP net income of $118.5 million and net income per share of $0.55. After-tax realized income was $316.0 million, and fee-related earnings totaled $339.3 million. The company also declared a quarterly dividend of $0.93 per share, payable on December 31, 2024. Management noted strong fundraising momentum, deployment, and fund performance. Ares expects 2024 to be a record fundraising year with gross commitments in the mid-$80 billion range.