AI English summary of an SEC filing — figures as filed
Ares Management ARESAres Management said that during the year ended 2024, it raised $92.7 billion of gross new capital across its commingled funds, SMAs, wealth products and other vehicles, and that these efforts drove AUM growth of 16% for 2024.
Key points
AI summaryAres Management said that during the year ended 2024, it raised $92.7 billion of gross new capital across its commingled funds, SMAs, wealth products and other vehicles, and that these efforts drove AUM growth of 16% for 2024.
The company said management fees for the year ended 2024 increased by $230.6 million compared to the prior year and Part I Fees increased by $96.3 million, citing increased capital deployment in direct lending and alternative credit funds within the Credit Group that contributed to higher FPAUM.
Ares Management said that for the year ended 2024, equity-based compensation expense increased by $96.9 million compared to the prior year, salary expense increased by $54.2 million, and average headcount increased by 11% to 2,971 professionals for 2024 from 2,674 professionals in 2023.
The company said the 2028 Senior Notes issued in November 2023 and the 2054 Senior Notes issued in October 2024 collectively increased interest expense by $37.8 million, and disclosed that the TRA debt balance was $402.4 million as of December 31, 2024 ($191.3 million as of December 31, 2023).
Key figures
Fiscal year ended December 31, 2024
- Revenue
- $3.9B
- Net income
- $464M
- Operating cash flow
- $2.8B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Gross New Capital Raised and AUM Growth for 2024
Ares Management said that during the year ended 2024, it raised $92.7 billion of gross new capital across its commingled funds, SMAs, wealth products and other vehicles, and that these efforts drove AUM growth of 16% for 2024.
Source · Based on the MD&A text of the filing
Increase in Management Fees and Part I Fees
The company said management fees for the year ended 2024 increased by $230.6 million compared to the prior year and Part I Fees increased by $96.3 million, citing increased capital deployment in direct lending and alternative credit funds within the Credit Group that contributed to higher FPAUM.
Source · Based on the MD&A text of the filing
Increase in Equity-Based Compensation and Salary Expense
Ares Management said that for the year ended 2024, equity-based compensation expense increased by $96.9 million compared to the prior year, salary expense increased by $54.2 million, and average headcount increased by 11% to 2,971 professionals for 2024 from 2,674 professionals in 2023.
Source · Based on the MD&A text of the filing
Increase in Interest Expense and TRA Debt Balance
The company said the 2028 Senior Notes issued in November 2023 and the 2054 Senior Notes issued in October 2024 collectively increased interest expense by $37.8 million, and disclosed that the TRA debt balance was $402.4 million as of December 31, 2024 ($191.3 million as of December 31, 2023).
Source · Based on the MD&A text of the filing
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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