Ares Management Corp

Company facts

Industry

Investment Advice

Headquarters

Los Angeles, California

Most recent report

10-Q, filed Nov 6, 2026

Incorporated

Delaware

Filings on record

1,001+ filings

On EDGAR

CIK 1176948

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 3 of 13 sections worth reading, with 0 positive, 11 notable, and 1 negative flags.

• Financial Statements (Item 1)

  Financial statements and notes with material balance-sheet and cash-flow details.
  Notable

  • BlueCove acquisition in Feb 2026 added $60.8M in management contracts and $12.1M in developed technology; a $37.3M bargain purchase gain was recorded.
  • Credit Facility was amended in May 2026: capacity increased to $2.5B (from $1.84B) and maturity extended to 2031.
  • Unfunded commitments to invest in managed funds jumped to $1.87B from $1.17B at Dec 31, 2025.
  • Contingent earnout liabilities (GCP International) grew to $805M from $763M at Dec 31, 2025, with max exposure of $1.5B.
  • Carried interest subject to potential repayment if investments were worthless rose to $254.8M from $125.6M at Dec 31, 2025.

• Management's Discussion (Item 2)

  MD&A with detailed segment results, AUM/FPAUM rollforwards, fund performance, and liquidity analysis.
  Notable

  • 93% of management fees from perpetual/long-dated funds in Q3 2026, stable from 94% a year ago.
  • ARCC to acquire MFIC for ~$2.6B in stock-and-cash; $100M cash from Ares subsidiary.
  • AUM not yet paying fees could generate ~$826.9M in potential annual management fees, a 24% embedded growth rate.
  • Unrealized losses of $113.7M from X-Energy and $22.5M from Kodiak AI in Q3 2026.
  • ARCC Part I Fees deferred in Q2 2026, but collected by Q4 2026; temporary liquidity impact of $33.8M.
  • TRA liability grew to $624.4M at 9/30/2026 from $579.9M at 12/31/2025; payments were $18.0M in 9M 2026.

• Legal Proceedings (Item 1)

  Company-specific derivative lawsuit alleging excessive advisory fees with quantified remedy sought.
  Negative

  • Derivative suit seeks disgorgement of advisory fees paid to Ares Capital Management, a core revenue source.

What changed: Sep 2026 vs. Jun 2026

About 5% of ARES's Sep 2026 10-Q is new information. 30 paragraphs were added, 264 changed, and 61 removed. Below are the most important lines SECSift identified.

• Item 2 138
• Item 1 44
• Item 4 2
• Item 6 2
• Item 3 1
• Item 5 1