Ares Fundraising Surges Across Alternative Assets

Ares Management raised approximately $31 billion in the third quarter of 2026, underscoring continued institutional demand for private markets despite uncertainty surrounding borrowing costs and dealmaking. The results suggest that large alternative asset managers are still attracting capital, particularly when they can offer investment opportunities across several sectors.

The US-based firm reported strong fundraising in credit, property and infrastructure. Its real assets division attracted $11.2 billion, while credit strategies accounted for $15.2 billion. More than half of total inflows came from businesses outside the traditional credit operation, reflecting Ares's efforts to diversify its sources of growth.

Assets under management climbed 16 per cent to approximately $690.6 billion at the end of September. Fee-related earnings increased 11 per cent to $524.2 million, illustrating the commercial importance of attracting and retaining client capital. Management expects fundraising to reach a record level this year, supported by demand from institutional investors and wealth management channels.

The firm's expansion into real estate and digital infrastructure has broadened its investment platform. Its acquisition of GCP International strengthened its exposure to these areas, while recent fundraising included a Japan-focused logistics property vehicle and a new secondaries strategy. Such diversification provides alternative routes to growth at a time when the private credit market faces greater scrutiny.

Nevertheless, fundraising should not be confused with realised investment performance. Committed capital generates opportunities for future fee income, but returns ultimately depend on finding attractive assets and deploying money at sensible prices. Competition from other managers and a slower buyout market can make that task more difficult. Ares must also manage the risks associated with lending outside the conventional banking system.

For investors, the results demonstrate the continuing appeal of scaled private market managers with broad distribution networks. The longer-term test will be whether rapid asset growth translates into consistent returns and prudent investment decisions, rather than merely larger portfolios and higher management fees.