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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Total revenues $ 1,350,128 $ 788,682 $ 2,438,933 $ 1,496,045
Expenses        
Compensation and benefits 643,709 419,858 1,300,834 832,809
Performance related compensation 234,706 (28,985) 357,339 (79,517)
General, administrative and other expenses 232,156 169,432 460,070 340,360
Expenses of Consolidated Funds 27,007 4,239 33,663 9,385
Total expenses 1,137,578 564,544 2,151,906 1,103,037
Other income (expense)        
Total other income (expense), net 74,388 93,187 140,949 155,365
Income before taxes 286,938 317,325 427,976 548,373
Income tax expense 60,958 41,074 78,495 68,307
Net income 225,980 276,251 349,481 480,066
Less: Net income attributable to non-controlling interests in Consolidated Funds 3,999 105,489 59,976  
Net income attributable to Ares Operating Group entities 221,981 170,762 289,505  
Less: Net income (loss) attributable to redeemable interest in Ares Operating Group entities (274) (387) 42  
Less: Net income attributable to non-controlling interests in Ares Operating Group entities 85,193 76,211 105,231  
Net income attributable to Ares Management Corporation 137,062 94,938 184,232 167,965
Net income attributable to Ares Management Corporation Class A and non-voting common stockholders 111,750 94,938 133,607 167,965
Series B Mandatory Convertible Preferred Stock        
Other income (expense)        
Less: Series B mandatory convertible preferred stock dividends declared 25,312 0 50,625 0
Class A Common Stock and Non-Voting Common Stock        
Other income (expense)        
Net income attributable to Ares Management Corporation Class A and non-voting common stockholders $ 111,750 $ 94,938 $ 133,607 $ 167,965
Net income per share of Class A and non-voting common stock:        
Basic (in dollars per share) $ 0.46 $ 0.43 $ 0.48 $ 0.76
Diluted (in dollars per share) $ 0.46 $ 0.43 $ 0.48 $ 0.76
Weighted-average shares of Class A and non-voting common stock:        
Basic (in shares) 218,915,599 196,186,922 214,158,085 194,404,932
Diluted (in shares) 218,915,599 196,186,922 214,158,085 194,404,932
Ares Operating Group        
Other income (expense)        
Net realized and unrealized gains on investments $ 12,708 $ 8,339 $ 12,976 $ 18,855
Interest and dividend income 7,772 7,017 25,428 12,399
Interest expense (43,575) (37,500) (79,962) (75,324)
Other expense, net (46,521) (938) (57,235) (668)
Net income attributable to Ares Operating Group entities 221,981 170,762 289,505 307,861
Less: Net income (loss) attributable to redeemable interest in Ares Operating Group entities (274) (387) 42 (314)
Less: Net income attributable to non-controlling interests in Ares Operating Group entities 85,193 76,211 105,231 140,210
Consolidated Funds         
Expenses        
Expenses of Consolidated Funds     33,663  
Other income (expense)        
Net realized and unrealized gains on investments 127,752 93,523 216,158 127,947
Interest expense (145,638) (217,613) (298,378) (425,479)
Interest and other income of Consolidated Funds 161,890 240,359 321,962 497,635
Less: Net income attributable to non-controlling interests in Consolidated Funds 3,999 105,489 59,976 172,205
Management fees        
Revenues        
Total revenues 900,622 721,681 1,717,609 1,409,373
Carried interest allocation        
Revenues        
Total revenues 323,901 (51,167) 483,909 (83,645)
Incentive fees        
Revenues        
Total revenues 23,079 47,734 55,127 56,401
Principal investment income        
Revenues        
Total revenues 10,963 29,461 32,961 36,511
Administrative, transaction and other fees        
Revenues        
Total revenues $ 91,563 $ 40,973 $ 149,327 $ 77,405