Ares Management reports Q3 EPS 83c, consensus 87c

“Despite a more challenging market, we continued to deliver for our investors and shareholders in the third quarter with strong fund performance and continued growth in our key financial metrics,” said Michael Arougheti, CEO and President of Ares. “We had our second highest ever quarter of fundraising with gross new commitments totaling nearly $22 billion supported by our consistent performance through market cycles and our market leadership across our diversified global private credit strategies.” “Our quarterly deployment has continued to improve sequentially this year as we gain share from traditional providers in a slower market environment,” said Jarrod Phillips, CFO of Ares. “Our available capital balance surpassed $100 billion for the first time in our firm’s history which provides us with significant visibility on further margin expansion and future earnings growth.”