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BUSINESS COMBINATIONS (Tables)

3 Months Ended

Mar. 31, 2025

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Business Acquisitions Fair Value Consideration Transferred

The acquisition date fair value of the consideration transferred totaled $3.9 billion, which consisted of the following:

Cash			$	1,794,641
Equity(1)			1,657,881
Contingent consideration(2)			465,080
Total			$	3,917,602

(1)9.5 million shares of Class A common stock, excluding 0.1 million shares held in escrow for future issuance, and 0.1 million Ares Operating Group Units (“AOG Units”) were issued in connection with the GCP Acquisition purchase consideration.

(2)See “Note 8. Commitments and Contingencies” for a further description of the contingent consideration from the GCP Acquisition.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following is a summary of the fair values of assets acquired and liabilities assumed for the GCP Acquisition as of March 1, 2025, based upon third party valuations of certain intangible assets. The fair value of assets acquired and liabilities assumed are estimated to be:

Cash			$	66,682
Other tangible assets			456,224
Intangible assets:
Management contracts			473,300
Client relationships			107,200
Finite-lived intangible assets			580,500
Indefinite-lived management contracts			749,600
Total intangible assets			1,330,100
Total identifiable assets acquired			1,853,006
Accounts payable, accrued expenses and other liabilities			233,015
Net identifiable assets acquired			1,619,991
Goodwill			2,297,611
Net assets acquired			$	3,917,602

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- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-3

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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

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-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
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