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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Total revenues $ 1,657,628 $ 1,129,739 $ 4,096,561 $ 2,625,784
Expenses        
Compensation and benefits 659,835 435,876 1,960,669 1,268,685
Performance related compensation 404,095 219,697 761,434 140,180
General, administrative and other expenses 246,154 197,019 706,224 537,379
Expenses of the Consolidated Funds (1,868) 2,295 31,795 11,680
Total expenses 1,308,216 854,887 3,460,122 1,957,924
Other income (expense)        
Total other income (expense), net 302,859 52,254 443,808 207,619
Income before taxes 652,271 327,106 1,080,247 875,479
Income tax expense 111,892 46,453 190,387 114,760
Net income 540,379 280,653 889,860 760,719
Less: Net income attributable to non-controlling interests in Consolidated Funds 67,407 64,241 127,383  
Net income attributable to Ares Operating Group entities 472,972 216,412 762,477  
Less: Net income attributable to redeemable interest in Ares Operating Group entities 1,797 1,319 1,839  
Less: Net income attributable to non-controlling interests in Ares Operating Group entities 182,293 96,633 287,524  
Net income attributable to Ares Management Corporation 288,882 118,460 473,114 286,425
Net income attributable to Ares Management Corporation Class A and non-voting common stockholders 263,569 118,460 397,176 286,425
Series B Mandatory Convertible Preferred Stock        
Other income (expense)        
Less: Series B mandatory convertible preferred stock dividends declared 25,313 0 75,938 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 $ 263,569 $ 118,460 $ 397,176 $ 286,425
Net income per share of Class A and non-voting common stock:        
Basic (in dollars per share) $ 1.15 $ 0.55 $ 1.64 $ 1.31
Diluted (in dollars per share) $ 1.15 $ 0.55 $ 1.64 $ 1.31
Weighted-average shares of Class A and non-voting common stock:        
Basic (in shares) 219,881,697 200,724,068 216,086,939 196,526,832
Diluted (in shares) 219,881,697 200,724,068 216,086,939 196,526,832
Ares Operating Group        
Other income (expense)        
Net realized and unrealized gains (losses) on investments $ 188,420 $ (5,074) $ 201,396 $ 13,781
Interest and dividend income 13,644 7,553 39,072 19,952
Interest expense (46,315) (29,733) (126,277) (105,057)
Other expense, net (7,263) (18,805) (64,498) (19,473)
Net income attributable to Ares Operating Group entities 472,972 216,412 762,477 524,273
Less: Net income attributable to redeemable interest in Ares Operating Group entities 1,797 1,319 1,839 1,005
Less: Net income attributable to non-controlling interests in Ares Operating Group entities 182,293 96,633 287,524 236,843
Consolidated Funds         
Expenses        
Expenses of the Consolidated Funds     31,795  
Other income (expense)        
Net realized and unrealized gains (losses) on investments 180,255 64,831 396,413 192,778
Interest expense (156,703) (201,199) (455,081) (626,678)
Interest and other income of Consolidated Funds 130,821 234,681 452,783 732,316
Less: Net income attributable to non-controlling interests in Consolidated Funds 67,407 64,241 127,383 236,446
Management fees        
Revenues        
Total revenues 971,762 753,597 2,689,371 2,162,970
Carried interest allocation        
Revenues        
Total revenues 464,666 277,651 948,575 194,006
Incentive fees        
Revenues        
Total revenues 100,668 48,638 155,795 105,039
Principal investment income        
Revenues        
Total revenues 17,976 8,036 50,937 44,547
Administrative, transaction and other fees        
Revenues        
Total revenues $ 102,556 $ 41,817 $ 251,883 $ 119,222