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Condensed Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets    
Intangible assets, net $ 959,447 $ 408,028
Goodwill 3,499,341 1,162,636
Total assets 27,181,768 24,884,308
Liabilities    
Operating lease liabilities 686,038  
Total liabilities 18,389,821 17,485,922
Commitments and contingencies (Note 8)
Stockholders’ Equity    
Additional paid-in-capital 4,040,708 2,936,794
Accumulated deficit (1,074,128) (837,294)
Accumulated other comprehensive income (loss), net of tax 24,344 (17,757)
Total stockholders’ equity 4,454,107 3,543,646
Total equity 8,211,839 6,824,190
Total liabilities, redeemable interest, non-controlling interests and equity 27,181,768 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 March 31, 2025) 1,459,918 1,458,771
Class A Common Stock    
Stockholders’ Equity    
Common stock 2,149 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 1,081 1,098
Consolidated Entity, Excluding VIE, Including Parent    
Assets    
Total assets 27,181,768 24,884,308
Liabilities    
Total liabilities 18,389,821 17,485,922
Ares Management L.P    
Assets    
Cash and cash equivalents 618,536 1,507,976
Investments (includes accrued carried interest of $3,557,277 and $3,495,115 as of March 31, 2025 and December 31, 2024, respectively) 4,892,289 4,644,775
Due from affiliates 1,122,790 1,056,608
Other assets 863,339 774,654
Right-of-use operating lease assets 546,814 511,319
Intangible assets, net 2,276,847 975,828
Goodwill 3,499,341 1,162,636
Liabilities    
Accounts payable, accrued expenses and other liabilities 855,831 363,872
Accrued compensation 300,756 280,894
Due to affiliates 721,848 500,480
Performance related compensation payable 2,599,227 2,537,203
Debt obligations 3,544,527 2,558,914
Operating lease liabilities 686,038 641,864
Redeemable interest 23,710 23,496
Non-controlling interests in Ares Operating Group entities 1,617,688 1,254,878
Stockholders’ Equity    
Additional paid-in-capital 4,040,708 2,936,794
Accumulated deficit (1,074,128) (837,294)
Accumulated other comprehensive income (loss), net of tax 24,344 (17,757)
Total stockholders’ equity 4,454,107 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 March 31, 2025) 1,459,918 1,458,771
Ares Management L.P | Class A Common Stock    
Stockholders’ Equity    
Common stock 2,149 1,999
Ares Management L.P | Non-voting Common Stock    
Stockholders’ Equity    
Common stock 35 35
Ares Management L.P | Class B Common Stock    
Stockholders’ Equity    
Common stock 0 0
Ares Management L.P | Class C Common Stock    
Stockholders’ Equity    
Common stock 1,081 1,098
Consolidated Funds    
Assets    
Cash and cash equivalents 1,184,275 1,227,489
Other assets 58,329 82,397
Investments held in trust account 556,498 550,800
Investments, at fair value 11,419,808 12,187,044
Receivable for securities sold 142,902 202,782
Liabilities    
Accounts payable, accrued expenses and other liabilities 140,953 323,100
Due to affiliates 0 0
Payable for securities purchased 415,332 332,406
CLO loan obligations, at fair value 8,522,002 9,672,189
Fund borrowings 603,307 275,000
Redeemable interest 556,398 550,700
Non-controlling interests in Ares Operating Group entities $ 2,140,044 $ 2,025,666