-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
ARES delivered strong Q4 2025 results with 18% Y/Y AUM growth to $644B and fee-paying AUM up 19% to $400B, while after-tax realized income of $1.24. Credit strategies showed robust performance with APAC Credit generating +20.3% returns and U.S. Senior Direct Lending at +18.0% and other Credit fund showing positive performance. We believe ARES's diversified platform positions the firm well to maintain market leadership across credit, real estate, private equity and infrastructure. Management expressed confidence in strong 2026 fundraising that could match or exceed 2025's record levels. The 20% dividend increase to $1.35 reflects management's confidence in cash generation capabilities, while $158B in available capital provides significant dry powder for future deployments. In our view, ARES benefits from its scale and global operations in capturing opportunities across market cycles, with credit dominating at 65% of FPAUM and 93% of management fees from perpetual capital or long-dated funds.