7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-03-31 2017-06-30 2017-03-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 
      
    		                                  
      cash flows from operating activities:
    		                                  
      net income
    		540,379,000 225,980,000 123,501,000 350,016,000 280,653,000 276,251,000 203,815,000 423,547,000 196,974,000 332,255,000 207,316,000 293,190,000 -48,779,000 53,606,000 140,898,000 265,963,000 216,713,000 271,319,000 164,310,000 242,279,000 141,327,000 216,676,000 -275,797,000 84,475,000 91,875,000 74,878,000 121,576,000 74,421,000 113,827,000 -156,324,000 117,788,000 87,440,000 -13,639,000 6,245,000 
      adjustments to reconcile net income to net cash from operating activities
    		29,421,000 151,981,000 310,333,000  125,737,000 80,364,000 222,996,000  162,407,000 28,012,000 121,761,000  259,877,000 7,600,000 53,473,000  47,726,000 -20,877,000 44,284,000  55,750,000 3,766,000 125,070,000  11,622,000 37,348,000 10,766,000 -19,979,000 -74,015,000 -18,522,000     
      adjustments to reconcile net income to net cash from operating activities allocable to non-controlling interests in consolidated funds
    		457,126,000 194,433,000 968,969,000  511,976,000 79,182,000 244,182,000  -64,677,000 -1,213,071,000 328,840,000  -272,622,000 -758,031,000 -97,772,000  123,688,000    -269,526,000 -43,858,000 -453,015,000  -466,504,000 -943,649,000 -416,457,000 152,375,000       
      cash flows due to changes in operating assets and liabilities
    		160,565,000 -38,026,000 227,706,000  101,000,000 53,408,000 103,981,000  66,234,000 62,355,000 7,071,000  156,489,000 24,814,000 132,346,000  -18,602,000 -123,792,000 -7,044,000  30,728,000 62,979,000 51,995,000  31,862,000 -16,361,000 3,537,000 -37,718,000 -8,946,000 -135,303,000     
      cash flows due to changes in operating assets and liabilities allocable to redeemable and non-controlling interest in consolidated funds
    		153,252,000 -118,667,000 363,694,000  -178,047,000 -57,033,000 -64,929,000  -42,667,000 91,397,000 42,584,000  -70,372,000 -120,337,000 -4,795,000  -1,144,233,000 149,018,000 265,512,000                
      net cash from operating activities
    		1,340,743,000 415,701,000 1,994,203,000 807,618,000 841,319,000 432,172,000 710,045,000 -560,052,000 318,271,000 -699,052,000 707,572,000 -190,507,000 24,593,000 -792,348,000 224,150,000 -752,294,000 -774,708,000 -327,925,000 -741,118,000 -438,121,000 163,301,000 212,398,000 -363,237,000 -402,937,000 -388,772,000 -941,466,000 -349,846,000 80,507,000 -12,344,000 -291,816,000 -328,384,000 94,273,000 -25,248,000 -6,400,000 
      cash flows from investing activities:
    		                                  
      purchase of furniture, equipment and leasehold improvements, net of disposals
    		-11,492,000 -22,918,000 -21,975,000 -9,306,000 -26,894,000 -29,238,000 -26,071,000 -23,006,000 -23,050,000 -12,250,000 -8,877,000 -7,408,000 -9,940,000 -9,924,000 -8,524,000 -12,074,000 -7,200,000 -4,668,000 -3,284,000                
      acquisitions, net of cash acquired
    		-3,460,000 0 -1,722,715,000    -8,000,000     75,000 19,000 -53,000 -301,624,000 19,000 -279,282,000   -2,993,000              -1,000 
      net cash from investing activities
    		-14,952,000 -22,918,000 -1,744,690,000 -63,518,000 -32,577,000 -29,238,000 -34,071,000 -66,902,000 -23,050,000 -12,250,000 -8,877,000 -7,333,000 -9,921,000 -9,977,000 -310,148,000 -12,055,000 -286,482,000 -782,812,000 -3,284,000 -10,327,000 -82,513,000 -5,018,000 -38,906,000 -4,723,000 -6,420,000 -2,659,000 -2,994,000 -2,857,000 -10,942,000 -10,252,000 -2,894,000 -2,474,000 -2,799,000 -2,088,000 
      cash flows from financing activities:
    		                                  
      net proceeds from issuance of class a common stock
    		   -112,000 52,841,000               0 0 -180,000 383,334,000            
      proceeds from credit facility
    		605,000,000 400,000,000 1,125,000,000 240,000,000 320,000,000 360,000,000 290,000,000 675,000,000 240,000,000 250,000,000 245,000,000 440,000,000 240,000,000 -160,000,000 860,000,000 415,000,000 150,000,000 150,000,000 168,000,000 0 0 0 790,000,000 70,000,000 30,000,000 90,000,000 145,000,000 240,000,000 0 165,000,000 0 20,000,000 127,000,000 110,000,000 
      repayments of credit facility
    		-605,000,000 -270,000,000 -140,000,000 -710,000,000 -345,000,000 -840,000,000 -210,000,000 -545,000,000 -200,000,000 -320,000,000 -150,000,000 -185,000,000 -190,000,000 185,000,000 -905,000,000 -150,000,000 0   0 0 -800,000,000 -60,000,000 0 -350,000,000 -90,000,000 -60,000,000 -310,000,000   0 -212,000,000 -45,000,000 0 
      dividends and distributions
    		-423,678,000 -428,171,000 -445,088,000 -341,536,000 -337,100,000 -312,214,000 -320,046,000 -270,581,000 -249,584,000 -258,869,000 -251,632,000 -228,144,000 -201,854,000 -194,480,000 -211,886,000 -154,938,000 -150,390,000 -146,410,000 -141,768,000 -111,823,000 -110,550,000 -117,569,000 -106,838,000 -85,366,000 -85,937,000 -76,885,000 -75,479,000        
      stock option exercises
    		   0 0 0 1,511,000 5,533,000 27,286,000 43,960,000 9,180,000 6,674,000 5,887,000 5,297,000 3,347,000 9,807,000 13,382,000   13,918,000 11,518,000 47,890,000 19,551,000 7,421,000 4,296,000          
      taxes paid related to net share settlement of equity awards
    		-9,014,000 -19,887,000 -396,722,000 -15,917,000 -8,539,000 -16,345,000 -186,731,000 -11,586,000 -11,851,000 -20,139,000 -113,431,000 -7,088,000 -4,738,000 -6,458,000 -183,027,000 -4,814,000 -120,449,000 -16,248,000 -84,590,000 -19,711,000 -1,322,000 -835,000 -73,500,000 -1,532,000 -598,000          
      other financing activities
    		840,000 1,333,000 457,000 1,800,000 -818,000 269,000 1,034,000 2,041,000 -652,000 1,071,000 483,000 1,598,000 623,000 978,000 856,000 9,533,000 12,391,000 -10,756,000 341,000 2,606,000 -2,248,000 236,000 -2,125,000 28,000 18,000 -5,398,000 2,140,000  937,000 646,000 -132,000 -207,000 -362,000  
      allocable to redeemable and non-controlling interests in consolidated funds:
    		                                  
      contributions from redeemable and non-controlling interests in consolidated funds
    		109,756,000 71,067,000 89,080,000 94,860,000 32,684,000 342,937,000 168,673,000 119,512,000 54,953,000 587,406,000 93,585,000 250,750,000 80,366,000 135,350,000 82,930,000 113,978,000 -43,163,000 20,894,000 941,935,000                
      distributions to non-controlling interests in consolidated funds
    		-29,264,000 -1,582,000 -318,174,000 -47,519,000 -28,898,000 -20,696,000 -26,908,000 -44,183,000 -21,020,000 -14,992,000 -20,933,000 -73,859,000 -50,794,000 -18,680,000 -34,958,000 -14,127,000 -12,481,000 -33,460,000 -38,829,000 -81,760,000 -19,418,000 -136,837,000 -13,492,000 -30,707,000 -34,620,000 -10,219,000 -20,736,000 -983,000 -39,054,000 -7,822,000 -38,042,000 2,000 -23,230,000 -2,625,000 
      redemptions of redeemable interests in consolidated funds
    		-502,360,000       -492,156,000 -14,733,000 0 -538,985,000                        
      borrowings under loan obligations by consolidated funds
    		219,700,000 139,885,000 172,606,000 35,811,000 156,405,000 130,188,000 36,947,000 837,633,000 14,200,000 532,550,000 2,914,000 20,000,000 306,497,000 764,866,000 49,317,000 592,045,000 964,000,000 485,887,000 7,000,000 395,084,000 9,852,000 153,964,000 454,391,000 859,496,000 548,254,000 1,537,943,000 396,144,000 1,303,000 808,312,000 505,714,000 529,981,000 0 750,000 -2,000 
      repayments under loan obligations by consolidated funds
    		-591,077,000 -452,703,000 -1,264,886,000 -724,007,000 -625,799,000 -457,433,000 -421,112,000 -141,494,000 -82,701,000 -77,344,000 -97,325,000 -23,949,000 -74,400,000 10,584,000 -57,457,000 -5,843,000 -15,178,000 -30,278,000 -29,453,000 -85,261,000 -17,105,000 -14,080,000 -73,609,000 -450,214,000 -56,541,000 -467,728,000 -61,227,000 -68,891,000 -720,506,000 -566,919,000 -58,036,000 -521,000 -45,091,000 273,000 
      net cash from financing activities
    		-1,225,097,000 -567,201,000 -1,177,727,000 478,161,000 -784,224,000 -458,899,000 -666,632,000 633,729,000 -244,102,000 723,643,000 -821,144,000 200,982,000 111,587,000 722,457,000 93,037,000 810,641,000 798,112,000 1,077,661,000 817,211,000 116,345,000 -134,680,000 -483,322,000 1,445,552,000 371,662,000 305,543,000 1,091,794,000 353,331,000 -85,652,000 47,282,000 60,781,000 403,730,000 68,590,000 17,382,000  
      effect of exchange rate changes
    		-113,681,000 65,538,000 38,774,000 -64,423,000 41,175,000 -5,921,000 -11,285,000 29,672,000 -16,119,000 -7,763,000 4,711,000 25,345,000 -17,626,000 -13,307,000 -4,652,000 1,659,000 -24,124,000 6,110,000 -2,749,000 3,163,000 32,604,000 -1,691,000 -14,120,000 22,179,000 -5,368,000 -20,947,000 9,760,000 4,613,000 9,271,000 2,415,000 -257,000 -5,735,000 -884,000  
      net change in cash and cash equivalents
    		-12,987,000 -108,880,000 -889,440,000 1,157,838,000 65,693,000 -61,886,000 -1,943,000 36,447,000 35,000,000 4,578,000 -117,738,000 28,487,000 108,633,000 -93,175,000 2,387,000 47,951,000 -287,202,000 -26,966,000 70,060,000 -328,940,000 -21,288,000 -277,633,000 1,029,289,000 -13,819,000 -95,017,000 126,722,000 10,251,000 -3,389,000 33,267,000 -238,872,000 72,195,000    
      cash and cash equivalents, beginning of period
    		0 0 1,507,976,000 0 0 0 348,274,000 0 0 0 389,987,000 0 0 0 343,655,000 0 0 0 539,812,000 0 0 0 138,384,000 0 0 0 110,247,000 118,929,000 0 342,861,000 0 0 121,483,000 0 
      cash and cash equivalents, end of period
    		-12,987,000 -108,880,000 618,536,000 1,157,838,000 65,693,000 -61,886,000 346,331,000 36,447,000 35,000,000 4,578,000 272,249,000 28,487,000 108,633,000 -93,175,000 346,042,000 47,951,000 -287,202,000 -26,966,000 609,872,000 -328,940,000 -21,288,000 -277,633,000 1,167,673,000 -13,819,000 -95,017,000 126,722,000 120,498,000 115,540,000 33,267,000 103,989,000 72,195,000 154,654,000 109,934,000 -266,195,000 
      supplemental disclosure of non-cash financing activities:
    		                                  
      equity issued in connection with acquisition-related activities
    		0 0 1,657,881,000                                
      adjustments to reconcile net income to net cash from operating activities:
    		                                  
      equity compensation expense
    		                              8,476,000 9,536,000 9,173,000 8,118,000 
      depreciation and amortization
    		                              9,183,000 9,701,000 9,738,000 11,119,000 
      net realized and unrealized (gains) losses on investments
    		                                  
      other non-cash amounts
    		                                 0 
      investments purchased
    		                              -15,130,000 -23,387,000 -23,424,000 -43,754,000 
      proceeds from sale of investments
    		                              36,405,000 28,033,000 5,520,000  
      adjustments to reconcile net income to net cash from operating activities allocable to non-controlling interests in consolidated funds:
    		                             -81,753,000     
      net realized and unrealized gains on investments
    		                                  
      cash flows due to changes in operating assets and liabilities:
    		                                  
      net carried interest and incentive fees receivable
    		                                  
      due to/from affiliates
    		                              -4,043,000 -24,558,000 3,268,000 7,980,000 
      other assets
    		                              -3,800,000 2,069,000 914,000 -3,024,000 
      accrued compensation and benefits
    		                              38,836,000 36,931,000 -69,089,000 10,123,000 
      accounts payable, accrued expenses and other liabilities
    		                              3,947,000 -1,610,000 3,486,000 -14,654,000 
      cash flows due to changes in operating assets and liabilities allocable to redeemable and non-controlling interest in consolidated funds:
    		                                  
      change in cash and cash equivalents held at consolidated funds
    		                              20,280,000 -109,661,000 35,636,000 -73,563,000 
      net cash relinquished with deconsolidation of consolidated funds
    		                                  
      change in other assets and receivables held at consolidated funds
    		                              32,328,000 -7,789,000 -39,319,000 7,943,000 
      change in other liabilities and payables held at consolidated funds
    		                              18,713,000 92,213,000 18,996,000 26,851,000 
      net proceeds from issuance of series b mandatory convertible preferred stock
    		                                  
      proceeds from issuance of senior notes
    		              488,915,000                    
      repayment of senior notes
    		                                  
      equity issued in connection with settlement of management incentive program
    		                                  
      supplemental disclosure of cash flow information:
    		                                  
      cash paid during the period for interest
    		                              829,000 7,107,000 1,505,000 9,070,000 
      cash paid during the period for income taxes
    		                              7,076,000 4,611,000 1,875,000 1,755,000 
      acquisitions
    		    -5,683,000                 0 -35,844,000            
      issuance of common stock in connection with acquisition-related activities
    		    0 0 7,724,000                            
      issuance of common stock in connection with settlement of management incentive program
    		                                  
      net cash relinquished with consolidation/deconsolidation of consolidated funds
    		                                  
      net proceeds from issuance of class a and non-voting common stock
    		               0 0                  
      proceeds from issuance of senior and subordinated notes
    		           0 0   0 0                  
      series a preferred stock dividends
    		               0 0 -5,425,000 -5,425,000 -5,425,000 -5,425,000              
      redemption of series a preferred stock
    		               0 0                  
      issuance of aog units and class a common stock in connection with acquisition-related activities
    		                                  
      issuance of aog units in connection with settlement of management incentive program
    		       0 0 0 245,647,000                        
      issuance of class a common stock in connection with acquisition-related activity
    		        0 737,000 115,364,000                        
      net cash acquired (relinquished) with consolidation/deconsolidation of consolidated funds
    		                                  
      issuance of aog units and class a common stock in connection with acquisitions
    		           0 0                      
      issuance of class a common stock in connection with acquisitions
    		              12,835,000     0               
      repurchases of class a common stock
    		                       0 0          
      ares management corporation and consolidated subsidiaries:
    		                                  
      issuance of aog units in connection with acquisitions
    		                211,429,000                  
      adjustments to reconcile net income to net cash from operating activities allocable to redeemable and non-controlling interests in consolidated funds
    		                  -1,208,180,000                
      net performance income receivable
    		                                  
      cash flows due to changes in operating assets and liabilities allocable to non-controlling interest in consolidated funds:
    		                    205,022,000 -27,165,000 188,510,000            
      proceeds from senior notes
    		                   0 0              
      proceeds from term notes
    		                           44,050,000 52,409,000 17,600,000    0 
      repayments of term notes
    		                           -56,000       
      allocable to non-controlling interests in consolidated funds:
    		                                  
      contributions from non-controlling interests in consolidated funds
    		                   8,717,000 18,000 -9,570,000 133,265,000 7,961,000 49,391,000 61,464,000 54,035,000 8,000,000 23,887,000 23,378,000 45,006,000 756,000 47,366,000 428,000 
      supplemental information of cash flow information:
    		                                  
      purchase of furniture, equipment and leasehold improvements
    		                    -528,000 -5,018,000 -3,062,000 -4,723,000 -6,420,000 -2,659,000 -2,994,000 -2,857,000 -10,942,000 -10,252,000 -2,894,000 -2,474,000 -2,799,000 -2,087,000 
      supplemental disclosure of non-cash financing activities
    		                                  
      series a preferred stock dividends and distributions
    		                      -5,425,000 -5,425,000 -5,425,000 -5,425,000 -5,425,000        
      contingent consideration
    		                              -17,690,000 -24,000 228,000  
      allocable to non-controlling interest in consolidated funds:
    		                                  
      cash acquired/relinquished with consolidation/deconsolidation of consolidated funds
    		                                  
      proceeds from issuance of class a common stock
    		                       0           
      repayments of term loans
    		                                  
      supplemental information:
    		                                  
      consolidated funds:
    		                                  
      cash flows due to changes in operating assets and liabilities allocable to non-controlling interests in consolidated funds
    		                        -57,627,000 -93,682,000 -69,268,000 -88,592,000       
      proceeds from issuance of common shares
    		                           105,441,000       
      taxes paid in net settlement of vested common units
    		                          -21,121,000        
      distributions
    		                           -91,780,000 -33,720,000 -68,595,000 -67,962,000 -38,411,000 -44,051,000 -34,301,000 
      preferred equity distributions
    		                           -5,425,000 -5,425,000 -5,425,000     
      taxes paid in net settlement of vested common shares
    		                           -7,311,000       
      stock option exercise
    		                            0 1,036,000     
      tax from share-based payment
    		                                  
      cash flows due to changes in operating assets and liabilities allocable to non-controlling interest in consolidated funds
    		                            -62,978,000 100,086,000     
      proceeds from the issuance of preferred equity, net of issuance costs
    		                                  
      net settlement of vested common units
    		                                  
      excess tax benefit related to stock option exercise
    		                            0 81,000     
      repurchase of treasury stock
    		                             -3,913,000     
      net realized and unrealized gain on investments
    		                              -19,358,000 3,151,000 -5,142,000  
      receipt of non-cash interest income and dividends from investments
    		                              -3,380,000 -1,212,000 -2,284,000 -2,111,000 
      net realized and unrealized loss on investments
    		                              -23,883,000 -201,000 29,807,000  
      amortization on debt and investments
    		                              -1,366,000 -538,000 -500,000 -620,000 
      proceeds from sale or pay down of investments
    		                              395,204,000 433,320,000 195,765,000  
      restricted cash
    		                                 320,000 
      net performance fees receivable
    		                              11,303,000 -16,450,000 3,343,000 16,253,000 
      deferred taxes
    		                              -372,000 -14,975,000 315,000 2,601,000 
      cash relinquished with deconsolidation of consolidated funds
    		                                 0 
      proceeds from debt issuance, net of offering costs
    		                                 -26,000 
      ares management, l.p. and consolidated subsidiaries:
    		                                  
      non-cash increase in assets and liabilities:
    		                                  
      issuance of aog units to non-controlling interest holders in connection with acquisitions
    		                                  
      proceeds from the issuance of preferred equity
    		                                  
      net decrease in cash and cash equivalents
    		                                -11,549,000  
      debt extinguishment expenses
    		                                  
      net realized (gain) loss on investments
    		                                 -7,366,000 
      net change in unrealized (appreciation) depreciation on investments
    		                                 2,392,000 
      realized gain on debt extinguishment
    		                                  
      proceeds from issuance of common units in ipo
    		                                  
      issuance costs
    		                                  
      repayments of promissory notes
    		                                  
      contributions
    		                                 0 
      net cash from in financing activities
    		                                 -254,503,000 
      effect of exchange rate changes and translation
    		                                 -3,204,000 
      net increase in cash and cash equivalents
    		                                 -266,195,000 
      cash proceeds from sale of investments
    		                                  
      cash proceeds from sale or pay down of investments
    		                                  
      issuance of aog units to non-controlling interest holders in connection with acquisition
    		                                  
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.