AI English summary of an SEC filing — figures as filed
Ares Management ARESAres reported GAAP net income attributable to Ares Management Corporation of $118.5 million for the quarter ended September 30, 2024, with a day-with-year placeholder. The company said basic and diluted net income per share of Class A and non-voting common stock was $0.55.
Key points
AI summaryAres reported GAAP net income attributable to Ares Management Corporation of $118.5 million for the quarter ended September 30, 2024, with a day-with-year placeholder. The company said basic and diluted net income per share of Class A and non-voting common stock was $0.55.
The company said after-tax realized income was $316.0 million and after-tax realized income per share of Class A common stock was $0.95 for the quarter ended September 30, 2024. It added that fee related earnings for the same quarter were $339.3 million.
Ares said it expects fundraising for the year to exceed $64 billion to date and 2024 to be a record fundraising year, with gross commitments in the mid-$80 billion range. The company said deployment reached nearly $30 billion in Q3, and that more than $85 billion of AUM was not yet paying fees.
The company declared a quarterly dividend of $0.93 per share on its Class A and non-voting common stock, payable on December 31 to holders of record as of December 17, 2024. Ares also declared a quarterly dividend of $0.759375 per share on its 6.75% Series B mandatory convertible preferred stock, payable on January 1, 2025.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Q3 2024 GAAP Net Income and Earnings Per Share
Ares reported GAAP net income attributable to Ares Management Corporation of $118.5 million for the quarter ended September 30, 2024, with a day-with-year placeholder. The company said basic and diluted net income per share of Class A and non-voting common stock was $0.55.
Source · Based on the filing body and exhibits
Q3 After-Tax Realized Income and Fee Related Earnings
The company said after-tax realized income was $316.0 million and after-tax realized income per share of Class A common stock was $0.95 for the quarter ended September 30, 2024. It added that fee related earnings for the same quarter were $339.3 million.
Source · Based on the filing body and exhibits
Full-Year Fundraising Outlook and Q3 Deployment
Ares said it expects fundraising for the year to exceed $64 billion to date and 2024 to be a record fundraising year, with gross commitments in the mid-$80 billion range. The company said deployment reached nearly $30 billion in Q3, and that more than $85 billion of AUM was not yet paying fees.
Source · Based on the filing body and exhibits
Common and Preferred Stock Dividends Declared
The company declared a quarterly dividend of $0.93 per share on its Class A and non-voting common stock, payable on December 31 to holders of record as of December 17, 2024. Ares also declared a quarterly dividend of $0.759375 per share on its 6.75% Series B mandatory convertible preferred stock, payable on January 1, 2025.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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