Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets
Intangible assets, net	$ 798,430	$ 408,028
Goodwill	3,454,107	1,162,636
Total assets	28,633,369	24,884,308
Liabilities
Operating lease liabilities	669,999
Total liabilities	19,931,981	17,485,922
Commitments and contingencies
Stockholders’ Equity
Additional paid-in-capital	4,242,678	2,936,794
Accumulated deficit	(1,452,259)	(837,294)
Accumulated other comprehensive income (loss), net of tax	21,743	(17,757)
Total stockholders’ equity	4,275,463	3,543,646
Total equity	8,676,092	6,824,190
Total liabilities, redeemable interest, non-controlling interests and equity	28,633,369	24,884,308
Series B Mandatory Convertible Preferred Stock
Stockholders’ Equity
Series B mandatory convertible preferred stock, $0.01 par value, 1,000,000,000 shares authorized (30,000,000 shares issued and outstanding as of December 31, 2025 and 2024)	1,460,030	1,458,771
Class A Common Stock
Stockholders’ Equity
Common stock	2,185	1,999
Non-voting Common Stock
Stockholders’ Equity
Common stock	35	35
Class B Common Stock
Stockholders’ Equity
Common stock	0	0
Class C Common Stock
Stockholders’ Equity
Common stock	1,051	1,098
Consolidated Entity, Excluding VIE, Including Parent
Assets
Total assets	28,633,369	24,884,308
Liabilities
Total liabilities	19,931,981	17,485,922
Ares Management L.P
Assets
Cash and cash equivalents	488,896	1,507,976
Investments (includes accrued carried interest of $3,972,748 and $3,495,115 as of December 31, 2025 and 2024, respectively)	5,508,447	4,644,775
Due from affiliates	1,420,218	1,056,608
Other assets	1,032,138	774,654
Right-of-use operating lease assets	517,351	511,319
Intangible assets, net	2,115,830	975,828
Goodwill	3,454,107	1,162,636
Liabilities
Accounts payable, accrued expenses and other liabilities	1,204,467	363,872
Accrued compensation	472,978	280,894
Due to affiliates	810,409	500,480
Performance related compensation payable	2,951,333	2,537,203
Debt obligations	3,941,415	2,558,914
Operating lease liabilities	669,999	641,864
Redeemable interest	25,296	23,496
Non-controlling interests in Ares Operating Group entities	1,496,771	1,254,878
Stockholders’ Equity
Additional paid-in-capital	4,242,678	2,936,794
Accumulated deficit	(1,452,259)	(837,294)
Accumulated other comprehensive income (loss), net of tax	21,743	(17,757)
Total stockholders’ equity	4,275,463	3,543,646
Ares Management L.P | Series B Mandatory Convertible Preferred Stock
Stockholders’ Equity
Series B mandatory convertible preferred stock, $0.01 par value, 1,000,000,000 shares authorized (30,000,000 shares issued and outstanding as of December 31, 2025 and 2024)	1,460,030	1,458,771
Ares Management L.P | Class A Common Stock
Stockholders’ Equity
Common stock	2,185	1,999
Ares Management L.P | Non-voting Common Stock
Stockholders’ Equity
Common stock	35	35
Ares Management L.P | Class C Common Stock
Stockholders’ Equity
Common stock	1,051	1,098
Consolidated Funds
Assets
Cash and cash equivalents	959,088	1,227,489
Other assets	63,966	82,397
Investments held in trust account	0	550,800
Investments, at fair value	12,844,886	12,187,044
Receivable for securities sold	228,442	202,782
Liabilities
Accounts payable, accrued expenses and other liabilities	105,137	323,100
Due to affiliates	0	0
Payable for securities purchased	165,391	332,406
CLO loan obligations, at fair value	7,359,072	9,672,189
Fund borrowings	2,251,780	275,000
Redeemable interest	0	550,700
Non-controlling interests in Ares Operating Group entities	$ 2,903,858	$ 2,025,666