XML 174 R99.htm IDEA: XBRL DOCUMENT v3.25.4
CONSOLIDATION - Schedule of Consolidating Effects of the Consolidated Funds on the Company's Financial Condition (Details) - USD ($)
$ / shares in Units, $ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Assets        
Intangible assets, net $ 798,430 $ 408,028    
Goodwill 3,454,107 1,162,636 $ 1,123,976  
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 $ 4,474,313 $ 3,798,618
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) $ 1,460,030 $ 1,458,771    
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01    
Preferred stock, shares issued (in shares) 30,000,000 30,000,000    
Preferred stock, shares authorized (in shares) 1,000,000,000 1,000,000,000    
Preferred stock, shares outstanding (in shares) 30,000,000 30,000,000    
Class A Common Stock        
Stockholders’ Equity        
Common stock $ 2,185 $ 1,999    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01    
Common stock, shares authorized (in shares) 1,500,000,000 1,500,000,000    
Common stock, shares issued (in shares) 218,465,429 199,872,571    
Common stock, shares outstanding (in shares) 218,465,429 199,872,571    
Non-voting Common Stock        
Stockholders’ Equity        
Common stock $ 35 $ 35    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01    
Common stock, shares authorized (in shares) 500,000,000 500,000,000    
Common stock, shares issued (in shares) 3,489,911 3,489,911    
Common stock, shares outstanding (in shares) 3,489,911 3,489,911    
Class B Common Stock        
Stockholders’ Equity        
Common stock $ 0 $ 0    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01    
Common stock, shares authorized (in shares) 1,000 1,000    
Common stock, shares issued (in shares) 1,000 1,000    
Common stock, shares outstanding (in shares) 1,000 1,000    
Class C Common Stock        
Stockholders’ Equity        
Common stock $ 1,051 $ 1,098    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01    
Common stock, shares authorized (in shares) 499,999,000 499,999,000    
Common stock, shares issued (in shares) 105,079,121 109,806,689    
Common stock, shares outstanding (in shares) 105,079,121 109,806,689    
Eliminations         
Assets        
Total assets $ (1,457,732) $ (1,020,079)    
Liabilities        
Total liabilities (91,402) (300,611)    
Commitments and contingencies    
Stockholders’ Equity        
Total equity (1,366,330) (719,468)    
Total liabilities, redeemable interest, non-controlling interests and equity (1,457,732) (1,020,079)    
Ares Management L.P        
Assets        
Cash and cash equivalents 488,896 1,507,976    
Investments (includes $3,972,748 of accrued carried interest) $ 5,508,447 $ 4,644,775    
Other Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration] Affiliated entity Affiliated entity    
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    
Accounts Payable, Related Party, Type [Extensible Enumeration] Affiliated entity Affiliated entity    
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    
Equity method investments 3,972,748 3,495,115    
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) 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    
Ares Management L.P | Reportable legal entity        
Assets        
Cash and cash equivalents 488,896 1,507,976    
Investments (includes $3,972,748 of accrued carried interest) 6,940,314 5,485,012    
Due from affiliates 1,446,083 1,236,450    
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    
Total assets 15,994,719 11,653,875    
Liabilities        
Accounts payable, accrued expenses and other liabilities 1,204,618 364,152    
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    
Total liabilities 10,050,752 6,883,507    
Commitments and contingencies    
Redeemable interest 25,296 23,496    
Non-controlling interests in Ares Operating Group entities 1,543,823 1,236,767    
Stockholders’ Equity        
Additional paid-in-capital 4,342,063 2,903,253    
Accumulated deficit (1,452,259) (837,294)    
Accumulated other comprehensive income (loss), net of tax 21,743 (17,757)    
Total stockholders’ equity 4,374,848 3,510,105    
Total equity 5,918,671 4,746,872    
Total liabilities, redeemable interest, non-controlling interests and equity 15,994,719 11,653,875    
Ares Management L.P | Reportable legal entity | 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) 1,460,030 1,458,771    
Ares Management L.P | Reportable legal entity | Class A Common Stock        
Stockholders’ Equity        
Common stock 2,185 1,999    
Ares Management L.P | Reportable legal entity | Non-voting Common Stock        
Stockholders’ Equity        
Common stock 35 35    
Ares Management L.P | Reportable legal entity | Class C Common Stock        
Stockholders’ Equity        
Common stock 1,051 1,098    
Ares Management L.P | Eliminations         
Assets        
Investments (includes $3,972,748 of accrued carried interest) (1,431,867) (840,237)    
Due from affiliates (25,865) (179,842)    
Liabilities        
Accounts payable, accrued expenses and other liabilities (151) (280)    
Non-controlling interests in Ares Operating Group entities (47,052) 18,111    
Stockholders’ Equity        
Additional paid-in-capital (99,385) 33,541    
Total stockholders’ equity (99,385) 33,541    
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    
Accounts Payable, Related Party, Type [Extensible Enumeration] Affiliated entity Affiliated entity    
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    
Consolidated Funds | Reportable legal entity        
Assets        
Cash and cash equivalents 959,088 1,227,489    
Other assets 63,966 82,397    
Investments held in trust account   550,800    
Investments, at fair value 12,844,886 12,187,044    
Receivable for securities sold 228,442 202,782    
Total assets 14,096,382 14,250,512    
Liabilities        
Accounts payable, accrued expenses and other liabilities 105,722 323,566    
Due to affiliates 25,021 178,409    
Payable for securities purchased 165,391 332,406    
CLO loan obligations, at fair value 7,424,717 9,793,645    
Fund borrowings 2,251,780 275,000    
Total liabilities 9,972,631 10,903,026    
Commitments and contingencies    
Redeemable interest   550,700    
Non-controlling interests in Ares Operating Group entities 4,123,751 2,796,786    
Stockholders’ Equity        
Total equity 4,123,751 2,796,786    
Total liabilities, redeemable interest, non-controlling interests and equity 14,096,382 14,250,512    
Consolidated Funds | Eliminations         
Liabilities        
Accounts payable, accrued expenses and other liabilities (585) (466)    
Due to affiliates (25,021) (178,409)    
CLO loan obligations, at fair value (65,645) (121,456)    
Non-controlling interests in Ares Operating Group entities $ (1,219,893) $ (771,120)