Ares Management Corporation Reports Second Quarter 2020 Results

Ares Management Corporation (NYSE:ARES) today reported its financial results for its second quarter ended June 30, 2020.

GAAP net income attributable to Ares Management Corporation was $56.4 million for the quarter ended June 30, 2020. On a basic and diluted basis, net income attributable to Ares Management Corporation per share of Class A common stock was $0.36 and $0.35, respectively, for the quarter ended June 30, 2020.

After-tax realized income, net of Series A preferred stock dividends, was $105.3 million for the quarter ended June 30, 2020. After-tax realized income per share of Class A common stock, net of Series A preferred stock dividends, was $0.39 for the quarter ended June 30, 2020. Fee related earnings were $97.0 million for the quarter ended June 30, 2020.

“Despite the volatile markets, we are pleased to see the durability and resiliency of our business deliver strong growth across our core metrics for the second quarter, including 26% growth in our fee related earnings and 18% growth in our fee paying AUM,” said Michael Arougheti, Chief Executive Officer and President of Ares. “With more than $15 billion in gross capital raised organically year to date, our clients continue to entrust us with greater amounts of capital, which puts us on track to have one of our best fundraising years yet.”

“In the second quarter, we generated our 13th consecutive quarter of sequential fee related earnings growth and our fee related earnings margin reached a post IPO high,” said Michael McFerran, Chief Operating Officer and Chief Financial Officer of Ares. “With a record amount of available capital, we are well positioned to continue to drive growth in management fees and fee related earnings in the years ahead.”

Common Dividend

Ares declared a quarterly dividend of $0.40 per share of its Class A common stock, payable on September 30, 2020 to its Class A common stockholders of record at the close of business on September 16, 2020.

Dividend Reinvestment Program

Ares approved a Dividend Reinvestment Program for its Class A common stockholders that will be effective for the third quarter dividend on September 30, 2020. American Stock Transfer and Trust Company has been engaged to administer the plan on behalf of the Company. Additional information can be located on the Investor Resources section of our website.

Preferred Dividend

Ares declared a quarterly dividend of $0.4375 per share of its Series A preferred stock with a payment date of September 30, 2020 to its Series A preferred stockholders of record as of the close of business on September 15, 2020.