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 2018-09-30 2018-06-30 2018-03-31 2017-06-30 2017-03-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 
      
    		                                     
      revenues
    		                                     
      management fees
    		971,762,000 900,622,000 816,987,000 779,156,000 753,597,000 721,681,000 687,692,000 697,846,000 637,517,000 615,271,000 600,516,000 590,083,000 548,458,000 520,560,000 477,332,000 475,226,000 448,262,000 367,286,000 320,273,000 327,458,000 292,434,000 266,867,000 263,849,000 265,321,000 251,591,000 237,846,000 224,659,000 204,524,000 194,032,000 189,515,000 180,768,000 172,045,000 163,609,000 158,521,000 158,433,000 161,058,000 158,051,000 
      carried interest allocation
    		464,666,000 323,901,000 160,008,000 196,174,000 277,651,000 -51,167,000 -32,478,000 76,751,000 -28,126,000 418,466,000 151,488,000 40,233,000 192,186,000 47,304,000 178,289,000 462,844,000 460,651,000 852,521,000 297,535,000 264,228,000 168,978,000 303,278,000 -230,876,000 118,064,000 186,803,000 119,712,000 197,293,000 31,902,000 -13,444,000 54,129,000        
      incentive fees
    		100,668,000 23,079,000 32,048,000 239,118,000 48,638,000 47,734,000 8,667,000 243,300,000 16,454,000 7,950,000 8,923,000 271,208,000 8,882,000 4,675,000 16,422,000 313,456,000 696,000 15,904,000 2,820,000 33,626,000 7,194,000 331,000 -3,249,000 40,450,000 1,712,000 10,220,000 16,815,000 872,000 7,740,000 5,071,000        
      principal investment income
    		17,976,000 10,963,000 21,998,000 877,000 8,036,000 29,461,000 7,050,000 -2,469,000 9,339,000 6,888,000 22,758,000 -3,242,000 11,582,000 -4,387,000 8,326,000 12,956,000 14,250,000 47,127,000 25,100,000 20,222,000 11,408,000 23,645,000 -26,723,000 10,563,000 11,389,000 5,844,000 28,759,000 -7,464,000 1,871,000 4,909,000        
      administrative, transaction and other fees
    		102,556,000 91,563,000 57,764,000 43,672,000 41,817,000 40,973,000 36,432,000 38,553,000 36,071,000 44,711,000 29,677,000 39,442,000 40,182,000 33,278,000 34,630,000 45,683,000 24,860,000 11,981,000 12,660,000 12,479,000 9,852,000 8,637,000 10,408,000 2,531,000 14,995,000 11,200,000 9,671,000 10,943,000 13,964,000 12,465,000        
      total revenues
    		1,657,628,000 1,350,128,000 1,088,805,000 1,258,997,000 1,129,739,000 788,682,000 707,363,000 1,053,981,000 671,255,000 1,093,286,000 813,362,000 937,724,000 801,290,000 601,430,000 714,999,000 1,310,165,000 948,719,000 1,294,819,000 658,388,000 658,013,000 489,866,000 602,758,000 13,409,000 436,929,000 466,490,000 384,822,000 477,197,000 240,777,000 204,163,000 266,089,000 533,890,000 241,657,000 335,460,000 369,535,000 136,015,000 159,519,000 143,854,000 
      yoy
    		46.73% 71.19% 53.92% 19.45% 68.30% -27.86% -13.03% 12.40% -16.23% 81.78% 13.76% -28.43% -15.54% -53.55% 8.60% 99.11% 93.67% 114.82% 4810.05% 50.60% 5.01% 56.63% -97.19% 81.47% 128.49% 44.62% -10.62% -0.36% -39.14% -27.99% 292.52% 51.49% 133.19%     
      qoq
    		22.78% 24.00% -13.52% 11.44% 43.24% 11.50% -32.89% 57.02% -38.60% 34.42% -13.26% 17.03% 33.23% -15.88% -45.43% 38.10% -26.73% 96.67% 0.06% 34.33% -18.73% 4395.17% -96.93% -6.34% 21.22% -19.36% 98.19% 17.93% -23.27% -50.16% 120.93% -27.96% -9.22% 171.69% -14.73% 10.89%  
      expenses
    		                                     
      compensation and benefits
    		659,835,000 643,709,000 657,125,000 463,062,000 435,876,000 419,858,000 412,951,000 390,865,000 367,502,000 367,550,000 360,781,000 343,559,000 425,419,000 375,775,000 357,243,000 325,525,000 335,569,000 269,689,000 231,850,000 207,770,000 194,267,000 185,131,000 180,084,000 168,120,000 166,216,000 162,170,000 156,846,000 145,594,000 138,992,000 134,639,000 131,219,000 124,339,000 111,916,000 112,654,000 110,679,000 108,646,000 104,872,000 
      performance related compensation
    		404,095,000 234,706,000 122,633,000 309,384,000 219,697,000 -28,985,000 -50,532,000 205,532,000 -25,448,000 315,780,000 111,658,000 202,011,000 142,934,000 41,073,000 129,405,000 531,832,000 331,141,000 656,381,000 221,432,000 212,551,000 122,356,000 237,108,000 -167,899,000 108,757,000 139,216,000 92,688,000 156,520,000 17,606,000 -13,005,000 25,878,000        
      general, administrative and other incomes
    		246,154,000 232,156,000 227,914,000 199,122,000 197,019,000 169,432,000 170,928,000 158,806,000 211,842,000 141,153,000 148,345,000 132,815,000 319,352,000 122,566,000 120,523,000 158,707,000 134,453,000 83,362,000 67,656,000 68,646,000 69,938,000 58,084,000 62,331,000 74,231,000 79,385,000 65,416,000 51,187,000 51,155,000 59,918,000 44,450,000 50,751,000 47,338,000 38,197,000 38,686,000 39,962,000 75,058,000 50,862,000 
      expenses of consolidated funds
    		-1,868,000 27,007,000 6,656,000 9,199,000 2,295,000 4,239,000 5,146,000 15,321,000 7,064,000 13,255,000 7,852,000 8,046,000 10,397,000 13,454,000 4,513,000 30,911,000 12,104,000 15,300,000 4,171,000 3,413,000 6,019,000 3,244,000 7,443,000 11,180,000 10,884,000 15,427,000 4,554,000 12,833,000 35,112,000 1,316,000        
      total expenses
    		1,308,216,000 1,137,578,000 1,014,328,000 980,767,000 854,887,000 564,544,000 538,493,000 770,524,000 560,960,000 837,738,000 628,636,000 686,431,000 898,102,000 552,868,000 611,684,000 1,046,975,000 813,267,000 1,024,732,000 525,109,000 492,380,000 392,580,000 483,567,000 81,959,000 362,288,000 395,701,000 335,701,000 369,107,000 227,188,000 221,017,000 206,283,000 448,197,000 491,467,000 283,374,000 303,935,000 129,538,000 185,622,000 136,386,000 
      other income
    		-7,263,000 -46,521,000 -10,714,000 20,100,000 -18,805,000 -938,000 270,000 5,887,000 5,742,000 -5,887,000 -923,000 2,925,000 2,601,000 5,809,000 1,784,000 -16,284,000 36,654,000 -1,819,000 -4,149,000 1,443,000 2,203,000 2,181,000 5,464,000 -6,270,000 -1,870,000 4,797,000 -4,497,000 811,000 -1,987,000 -311,000 2,822,000 16,496,000 23,042,000 5,673,000 5,241,000 22,479,000 2,769,000 
      net realized and unrealized gains on investments
    		188,420,000 12,708,000 268,000 2,789,000 -5,074,000 8,339,000 10,516,000 72,347,000 -1,770,000 5,481,000 1,515,000 -6,033,000 4,431,000 -1,775,000 8,109,000 358,000 8,334,000 4,977,000 5,433,000 1,343,000 -2,607,000 290,000 -8,034,000 4,035,000 1,522,000             
      interest and dividend income
    		13,644,000 7,772,000 17,656,000 23,102,000 7,553,000 7,017,000 5,382,000 7,995,000 4,752,000 2,690,000 3,839,000 4,335,000 2,086,000 1,476,000 1,502,000 3,047,000 1,376,000 4,482,000 960,000 2,959,000 1,344,000 1,978,000 1,790,000 1,980,000 2,030,000 1,652,000 1,844,000 808,000 2,356,000 3,347,000        
      interest expense
    		-46,315,000 -43,575,000 -36,387,000 -37,909,000 -29,733,000 -37,500,000 -37,824,000 -29,476,000 -25,975,000 -25,839,000 -24,986,000 -20,182,000 -18,307,000 -17,221,000 -15,646,000 -11,635,000 -11,523,000 -6,907,000 -6,695,000 -6,705,000 -6,815,000 -6,082,000 -5,306,000 -3,598,000 -4,691,000 -5,793,000 -5,589,000 -4,143,000 -6,076,000 -6,869,000      -5,698,000 -5,913,000 
      net realized and unrealized gains on investments of consolidated funds
    		180,255,000 127,752,000 88,406,000 121,185,000 64,831,000 93,523,000 34,424,000 73,983,000 79,591,000 98,426,000 10,700,000 65,355,000 -30,000 -7,907,000 15,968,000 32,583,000 34,245,000 -5,947,000 16,422,000 56,404,000 17,971,000 83,522,000 -254,761,000 11,880,000 -992,000             
      interest and other income of consolidated funds
    		130,821,000 161,890,000 160,072,000 201,033,000 234,681,000 240,359,000 257,276,000 282,553,000 255,600,000 234,454,000 222,938,000 190,449,000 158,415,000 117,375,000 120,290,000 104,073,000 104,028,000 113,878,000 115,839,000 117,532,000 116,581,000 116,314,000 113,225,000 92,287,000 107,922,000 102,206,000 93,184,000 93,062,000 92,633,000 64,422,000        
      interest expense of consolidated funds
    		-156,703,000 -145,638,000 -152,740,000 -208,657,000 -201,199,000 -217,613,000 -207,866,000 -213,646,000 -201,363,000 -182,904,000 -156,687,000 -145,333,000 -112,762,000 -79,253,000 -74,013,000 -66,471,000 -61,578,000 -58,974,000 -71,025,000 -63,456,000 -66,322,000 -76,297,000 -80,241,000 -73,694,000 -71,134,000 -68,005,000 -64,912,000 -62,763,000 -56,754,000 -44,425,000      -18,827,000 -23,848,000 
      total other income
    		302,859,000 74,388,000 66,561,000 121,643,000 52,254,000 93,187,000 62,178,000 199,643,000 116,577,000 126,421,000 56,396,000 91,516,000 36,434,000 18,504,000 57,994,000 45,671,000 111,536,000 49,690,000 56,785,000 109,520,000 62,355,000 121,906,000 -227,863,000 26,620,000 32,787,000 35,262,000 27,870,000 38,754,000 67,926,000 2,240,000 29,387,000 59,222,000 73,339,000 17,406,000 -15,451,000 35,671,000 -39,553,000 
      income before taxes
    		652,271,000 286,938,000 141,038,000 399,873,000 327,106,000 317,325,000 231,048,000 483,100,000 226,872,000 381,969,000 241,122,000 342,809,000 -60,378,000 67,066,000 161,309,000 308,861,000 246,988,000 319,777,000 190,064,000 275,153,000 159,641,000 241,097,000 -296,413,000 101,261,000 103,576,000 84,383,000 135,960,000 52,343,000 51,072,000 62,046,000 115,080,000 -190,588,000 125,425,000 83,006,000 -8,974,000 9,568,000 -32,085,000 
      income tax expense
    		111,892,000 60,958,000 17,537,000 49,857,000 46,453,000 41,074,000 27,233,000   49,714,000 33,806,000   13,460,000 20,411,000 42,898,000 30,275,000 48,458,000  32,874,000 18,314,000 24,421,000  8,897,500 11,701,000 9,505,000       7,641,000  4,665,000 3,323,000 5,579,000 
      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 47,212,000 14,169,000 74,421,000 113,827,000 -156,324,000 117,784,000 87,440,000 -13,639,000 6,245,000 -37,664,000 
      yoy
    		92.54% -18.20% -39.41% -17.36% 42.48% -16.86% -1.69% 44.46% -503.81% 519.81% 47.14% 10.24% -122.51% -80.24% -14.25% 9.78% 53.34% 25.22% -159.58% 186.81% 53.83% 189.37% -326.85% 78.93% 548.42% 0.61% 6.81% -130.20% -87.97% -14.89% -934.57% -2603.19% -412.72%     
      qoq
    		139.13% 82.98% -64.72% 24.71% 1.59% 35.54% -51.88% 115.03% -40.72% 60.27% -29.29% -701.06% -191.00% -61.95% -47.02% 22.73% -20.13% 65.13% -32.18% 71.43% -34.77% -178.56% -426.48% -8.05% 22.70% -38.41% 157.51% 233.21% -80.96% -34.62% -172.81% -232.72% 34.70% -741.10% -318.40% -116.58%  
      net income margin %
    		32.60% 16.74% 11.34% 27.80% 24.84% 35.03% 28.81% 40.19% 29.34% 30.39% 25.49% 31.27% -6.09% 8.91% 19.71% 20.30% 22.84% 20.95% 24.96% 36.82% 28.85% 35.95% -2056.81% 19.33% 19.69% 19.46% 25.48% 19.61% 6.94% 27.97% 21.32% -64.69% 35.11% 23.66% -10.03% 3.91% -26.18% 
      less: net income attributable to non-controlling interests in consolidated funds
    		67,407,000 3,999,000 55,977,000 59,326,000 64,241,000 105,489,000 66,716,000 99,633,000 80,289,000 67,681,000 26,693,000 70,633,000 16,340,000 -15,022,000 47,382,000 18,114,000 47,370,000 5,027,000 49,858,000 66,678,000 42,627,000 85,186,000 -166,406,000 -2,174,000 15,908,000 8,346,000 17,624,000 13,169,000 9,882,000 367,000 -8,647,000 15,855,000 7,861,000 1,054,000 -11,979,000 2,019,000 -9,219,000 
      net income attributable to ares operating group entities
    		472,972,000 221,981,000 67,524,000 290,690,000 216,412,000 170,762,000 137,099,000 323,914,000 116,685,000 264,574,000 180,623,000 222,557,000 -65,119,000 68,628,000 93,516,000 247,849,000 169,343,000 266,292,000 114,452,000                   
      less: net income attributable to redeemable interest in ares operating group entities
    		1,797,000 -274,000 316,000 -902,000 1,319,000 -387,000 73,000 558,000 758,000 734,000 -1,824,000 -886,000 93,000 -457,000 399,000 -2,034,000 324,000 337,000 32,000 31,000 -1,007,000                 
      less: net income attributable to non-controlling interests in ares operating group entities
    		182,293,000 85,193,000 20,038,000 114,275,000 96,633,000 76,211,000 63,999,000 149,406,000 54,104,000 119,326,000 88,408,000 105,950,000 -29,666,000 29,354,000 47,254,000 125,794,000 84,293,000 124,311,000 56,042,000 96,308,000 52,162,000 75,119,000 -78,355,000 48,184,000 42,636,000 34,393,000 59,003,000 18,133,000 16,062,000 33,106,000 72,596,000 -131,045,000 66,511,000 48,473,000 1,420,000 4,014,000 -16,977,000 
      net income attributable to ares management corporation
    		288,882,000 137,062,000 47,170,000         117,493,000 -35,546,000 39,731,000 45,863,000 124,089,000 84,726,000 141,644,000 58,378,000 79,262,000 47,545,000 56,371,000 -31,036,000 38,465,000 33,331,000 32,139,000 44,949,000           
      less: series b mandatory convertible preferred stock dividends declared
    		25,313,000 25,312,000 25,313,000                                   
      net income attributable to ares management corporation class a and non-voting common stockholders
    		263,569,000 111,750,000 21,857,000 154,536,000 118,460,000 94,938,000 73,027,000 173,950,000 61,823,000 144,514,000 94,039,000 117,493,000 -35,546,000 39,731,000 45,863,000 124,089,000 84,726,000 124,980,000                    
      net income per share
    		                                     
      basic
    		1.15 0.46 0 0.73 0.55 0.43 0.33 0.9 0.3 0.75 0.49 0.64 -0.22 0.21 0.24 0.69 0.49 0.7 0.33 0.52 0.27 0.36                
      diluted
    		1.15 0.46 0 0.73 0.55 0.43 0.33 0.88 0.3 0.74 0.49 0.64 -0.22 0.21 0.24 0.67 0.45 0.69 0.32 0.5 0.27 0.35                
      weighted-average shares of class a and non-voting common stock:
    		                                     
      basic
    		219,881,697 218,915,599 209,350,849 198,054,451 200,724,068 196,186,922 192,622,609 184,523,524 186,218,638 182,999,515 178,976,022 175,510,798 175,631,144 175,157,558 174,215,251 163,703,626 168,931,621 164,793,968 149,271,822 135,065,436 143,466,209 133,639,194 118,366,539 107,914,953 108,481,929 105,188,966 102,906,494 98,706,419,000 98,037,252,000 85,617,932,000 81,829,086,000 81,106,734,000 80,793,984,000 80,715,723,000 80,683,051,000 80,673,360,000 80,676,232,000 
      diluted
    		219,881,697 218,915,599 209,350,849 198,054,451 200,724,068 196,186,922 192,622,609 195,773,426 186,218,638 194,058,041 178,976,022 175,510,798 175,631,144 175,157,558 174,215,251 180,112,271 186,522,157 181,027,734 163,664,384 149,508,498 158,122,563 146,904,357 118,366,539 119,877,429 121,890,022 116,603,887 110,699,112 98,706,419,000 98,037,252,000 213,852,928,000 84,319,882,000 81,106,734,000 84,464,591,000 82,332,193,000 80,683,051,000 80,673,360,000 80,676,232,000 
      income tax benefit
    		       28,354,500 29,898,000   5,568,000 -11,599,000      25,754,000    -20,616,000    14,384,000 5,131,000 36,903,000 -12,375,000 1,253,000 -34,264,000  -4,434,000    
      less: series a preferred stock dividends paid
    		                 5,425,000 5,425,000 5,425,000 5,425,000 5,425,000 5,425,000 5,425,000 5,425,000 5,425,000 5,425,000           
      less: series a preferred stock redemption premium
    		                 11,239,000                    
      net income attributable to ares management corporation class a common stockholders
    		                  52,953,000 73,837,000 42,120,000 50,946,000 -36,461,000 33,040,000 27,906,000 26,714,000 39,524,000           
      weighted-average shares of class a common stock:
    		                                     
      basic
    		219,881,697 218,915,599 209,350,849 198,054,451 200,724,068 196,186,922 192,622,609 184,523,524 186,218,638 182,999,515 178,976,022 175,510,798 175,631,144 175,157,558 174,215,251 163,703,626 168,931,621 164,793,968 149,271,822 135,065,436 143,466,209 133,639,194 118,366,539 107,914,953 108,481,929 105,188,966 102,906,494 98,706,419,000 98,037,252,000 85,617,932,000 81,829,086,000 81,106,734,000 80,793,984,000 80,715,723,000 80,683,051,000 80,673,360,000 80,676,232,000 
      diluted
    		219,881,697 218,915,599 209,350,849 198,054,451 200,724,068 196,186,922 192,622,609 195,773,426 186,218,638 194,058,041 178,976,022 175,510,798 175,631,144 175,157,558 174,215,251 180,112,271 186,522,157 181,027,734 163,664,384 149,508,498 158,122,563 146,904,357 118,366,539 119,877,429 121,890,022 116,603,887 110,699,112 98,706,419,000 98,037,252,000 213,852,928,000 84,319,882,000 81,106,734,000 84,464,591,000 82,332,193,000 80,683,051,000 80,673,360,000 80,676,232,000 
      net income attributable per share of class a common stock
    		                                     
      basic
    		                      -0.33 0.21 0.24 0.24 0.36 90 -200 390 540 -580 450 460 -40  -140 
      diluted
    		                      -0.33 0.203 0.23 0.23 0.36 90 -200 280 530 -580 430 460 -40  -140 
      net income attributable to ares management corporation per share of class a common stock
    		                                     
      basic
    		                      -0.33 0.21 0.24 0.24 0.36 90 -200 390 540 -580 450 460 -40  -140 
      diluted
    		                      -0.33 0.203 0.23 0.23 0.36 90 -200 280 530 -580 430 460 -40  -140 
      net realized and unrealized gain on investments
    		                         521,000 3,476,000 5,542,000 3,267,000 -839,000 30,079,000 2,655,000 19,358,000 -3,151,000 5,142,000   
      net realized and unrealized gain on investments of consolidated funds
    		                         -116,000 4,364,000 5,437,000 34,487,000    23,883,000 201,000    
      net income attributable to ares management corporation per share of class a common stock:
    		                                     
      basic
    		                      -0.33 0.21 0.24 0.24 0.36 90 -200 390 540 -580 450 460 -40  -140 
      diluted
    		                      -0.33 0.203 0.23 0.23 0.36 90 -200 280 530 -580 430 460 -40  -140 
      dividend declared and paid per share of class a common stock
    		                         0.32 0.32           
      transaction support expense
    		                               275,177,000      
      net income attributable to ares management, l.p.
    		                           15,910,000 -11,775,000 40,948,000 49,878,000 -41,134,000 43,305,000 37,574,000 -3,090,000 184,000 -11,349,000 
      less: preferred equity dividend paid
    		                           5,425,000 5,425,000 5,425,000        
      net income attributable to ares management, l.p. common shareholders
    		                           10,485,000 -17,200,000 35,523,000        
      net income attributable to ares management, l.p. per common share:
    		                                     
      basic
    		                      -0.33 0.21 0.24 0.24 0.36 90 -200 390 540 -580 450 460 -40  -140 
      diluted
    		                      -0.33 0.203 0.23 0.23 0.36 90 -200 280 530 -580 430 460 -40  -140 
      weighted-average common shares:
    		                                     
      basic
    		219,881,697 218,915,599 209,350,849 198,054,451 200,724,068 196,186,922 192,622,609 184,523,524 186,218,638 182,999,515 178,976,022 175,510,798 175,631,144 175,157,558 174,215,251 163,703,626 168,931,621 164,793,968 149,271,822 135,065,436 143,466,209 133,639,194 118,366,539 107,914,953 108,481,929 105,188,966 102,906,494 98,706,419,000 98,037,252,000 85,617,932,000 81,829,086,000 81,106,734,000 80,793,984,000 80,715,723,000 80,683,051,000 80,673,360,000 80,676,232,000 
      diluted
    		219,881,697 218,915,599 209,350,849 198,054,451 200,724,068 196,186,922 192,622,609 195,773,426 186,218,638 194,058,041 178,976,022 175,510,798 175,631,144 175,157,558 174,215,251 180,112,271 186,522,157 181,027,734 163,664,384 149,508,498 158,122,563 146,904,357 118,366,539 119,877,429 121,890,022 116,603,887 110,699,112 98,706,419,000 98,037,252,000 213,852,928,000 84,319,882,000 81,106,734,000 84,464,591,000 82,332,193,000 80,683,051,000 80,673,360,000 80,676,232,000 
      dividend declared and paid per common share
    		                           280 370 400        
      net realized and unrealized gain on investments of the consolidated funds
    		                             -13,085,000 -12,713,000 32,036,000      
      performance fees
    		                              338,024,000 55,172,000 164,482,000 203,151,000 -29,947,000 -9,736,000 -22,223,000 
      administrative and other fees
    		                              15,098,000 14,440,000 7,369,000 7,863,000    
      performance fee compensation
    		                              261,705,000 40,702,000 123,173,000 151,896,000 -21,330,000 -960,000 -20,293,000 
      expenses of the consolidated funds
    		                              4,522,000 3,911,000      
      investment income and net interest income
    		                              -2,252,000       
      investment income and net interest income of the consolidated funds
    		                              11,451,000       
      less: net income attributable to redeemable interests in ares operating group entities
    		                                107,000 339,000 10,000 28,000 -119,000 
      less: preferred equity distributions paid
    		                              5,425,000 5,425,000      
      net income attributable to ares management, l.p. common unitholders
    		                              44,453,000 -46,559,000 36,554,000     
      net income attributable to ares management, l.p. per common unit:
    		                                     
      basic
    		                      -0.33 0.21 0.24 0.24 0.36 90 -200 390 540 -580 450 460 -40  -140 
      diluted
    		                      -0.33 0.203 0.23 0.23 0.36 90 -200 280 530 -580 430 460 -40  -140 
      weighted-average common units:
    		                                     
      basic
    		219,881,697 218,915,599 209,350,849 198,054,451 200,724,068 196,186,922 192,622,609 184,523,524 186,218,638 182,999,515 178,976,022 175,510,798 175,631,144 175,157,558 174,215,251 163,703,626 168,931,621 164,793,968 149,271,822 135,065,436 143,466,209 133,639,194 118,366,539 107,914,953 108,481,929 105,188,966 102,906,494 98,706,419,000 98,037,252,000 85,617,932,000 81,829,086,000 81,106,734,000 80,793,984,000 80,715,723,000 80,683,051,000 80,673,360,000 80,676,232,000 
      diluted
    		219,881,697 218,915,599 209,350,849 198,054,451 200,724,068 196,186,922 192,622,609 195,773,426 186,218,638 194,058,041 178,976,022 175,510,798 175,631,144 175,157,558 174,215,251 180,112,271 186,522,157 181,027,734 163,664,384 149,508,498 158,122,563 146,904,357 118,366,539 119,877,429 121,890,022 116,603,887 110,699,112 98,706,419,000 98,037,252,000 213,852,928,000 84,319,882,000 81,106,734,000 84,464,591,000 82,332,193,000 80,683,051,000 80,673,360,000 80,676,232,000 
      distribution declared and paid per common unit
    		                              130 280 280 150 200   
      net interest and investment expense
    		                               -2,135,000 -1,681,000     
      net interest and investment income of the consolidated funds
    		                               10,170,000 8,737,000 9,690,000 7,332,000   
      consolidated funds' expenses
    		                                10,088,000 699,000 227,000 2,878,000 945,000 
      preferred equity distributions paid
    		                                6,751,000     
      weighted-average common units
    		                                     
      basic
    		219,881,697 218,915,599 209,350,849 198,054,451 200,724,068 196,186,922 192,622,609 184,523,524 186,218,638 182,999,515 178,976,022 175,510,798 175,631,144 175,157,558 174,215,251 163,703,626 168,931,621 164,793,968 149,271,822 135,065,436 143,466,209 133,639,194 118,366,539 107,914,953 108,481,929 105,188,966 102,906,494 98,706,419,000 98,037,252,000 85,617,932,000 81,829,086,000 81,106,734,000 80,793,984,000 80,715,723,000 80,683,051,000 80,673,360,000 80,676,232,000 
      diluted
    		219,881,697 218,915,599 209,350,849 198,054,451 200,724,068 196,186,922 192,622,609 195,773,426 186,218,638 194,058,041 178,976,022 175,510,798 175,631,144 175,157,558 174,215,251 180,112,271 186,522,157 181,027,734 163,664,384 149,508,498 158,122,563 146,904,357 118,366,539 119,877,429 121,890,022 116,603,887 110,699,112 98,706,419,000 98,037,252,000 213,852,928,000 84,319,882,000 81,106,734,000 84,464,591,000 82,332,193,000 80,683,051,000 80,673,360,000 80,676,232,000 
      net interest and investment income
    		                                 4,993,000 -3,359,000   
      other fees
    		                                  7,529,000 8,197,000 8,026,000 
      net realized and unrealized loss on investments of consolidated funds
    		                                  -29,807,000   
      interest and other investment income
    		                                   1,599,000 1,049,000 
      net realized gain on investments
    		                                   7,366,000 -1,078,000 
      net change in unrealized appreciation (depreciation) on investments
    		                                   -172,250 -6,606,000 
      interest and other investment income of consolidated funds
    		                                   27,381,000 32,306,000 
      net realized gain on investments of consolidated funds
    		                                   -21,152,000 -1,517,000 
      net change in unrealized appreciation (depreciation) on investments of consolidated funds
    		                                   36,556,000 -36,715,000 
      less: net income attributable to redeemable interests in consolidated funds
    		                                     
      net income attributable to ares management, l.p. per common unit
    		                                     
      basic
    		                      -0.33 0.21 0.24 0.24 0.36 90 -200 390 540 -580 450 460 -40  -140 
      diluted
    		                      -0.33 0.203 0.23 0.23 0.36 90 -200 280 530 -580 430 460 -40  -140 
      distribution declared per common unit
    		                                   130 260 
    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.