Ares Management Corp Files 10-Q for Period Ending March 31, 2024

Ticker: ARES-PB · Form: 10-Q · Filed: May 9, 2024 · CIK: 1176948

Ares Management Corp 10-Q Filing Summary
FieldDetail
CompanyAres Management Corp (ARES-PB)
Form Type10-Q
Filed DateMay 9, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$0.01
Sentimentneutral

Sentiment: neutral

Topics: Ares Management, 10-Q Filing, Financial Report, Investment Management, SEC Filings

TL;DR

<b>Ares Management Corp has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial performance and operations.</b>

AI Summary

Ares Management Corp (ARES-PB) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Ares Management Corp filed a 10-Q report for the period ending March 31, 2024. The filing includes data for the fiscal year ending December 31. The company's principal executive offices are located at 2000 Avenue of the Stars, 12th Floor, Los Angeles, CA 90067. Ares Management Corp was formerly known as ARES MANAGEMENT LP, with a name change date of July 1, 2002. The filing is in accordance with the Securities Exchange Act of 1934.

Why It Matters

For investors and stakeholders tracking Ares Management Corp, this filing contains several important signals. This 10-Q filing provides investors with the latest financial data and operational updates for Ares Management Corp, crucial for assessing the company's current standing and future prospects. Understanding the details within this report allows stakeholders to evaluate the company's financial health, strategic direction, and potential risks and opportunities in the investment management sector.

Risk Assessment

Risk Level: medium — Ares Management Corp shows moderate risk based on this filing. The filing is a standard 10-Q, which provides a snapshot of financial health but lacks forward-looking statements or specific performance metrics that would indicate immediate high risk or reward.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand Ares Management Corp's performance and strategic positioning.

Key Numbers

  • 2024-03-31 — Reporting Period End Date (The end date of the reporting period for the 10-Q.)
  • 2024-05-09 — Filing Date (The date the 10-Q was filed with the SEC.)
  • 12/31 — Fiscal Year End (The company's fiscal year end date.)
  • 001-36429 — SEC File Number (The SEC file number for Ares Management Corp.)

Key Players & Entities

  • Ares Management Corp (company) — Filer of the 10-Q report.
  • ARES MANAGEMENT LP (company) — Former name of Ares Management Corp.
  • 2000 Avenue of the Stars (company) — Street address of Ares Management Corp's principal executive offices.
  • Los Angeles (company) — City where Ares Management Corp's principal executive offices are located.
  • CA (company) — State where Ares Management Corp's principal executive offices are located.
  • 1934 Act (regulator) — Securities Exchange Act under which the filing is made.

FAQ

When did Ares Management Corp file this 10-Q?

Ares Management Corp filed this Quarterly Report (10-Q) with the SEC on May 9, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Ares Management Corp (ARES-PB).

Where can I read the original 10-Q filing from Ares Management Corp?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Ares Management Corp.

What are the key takeaways from Ares Management Corp's 10-Q?

Ares Management Corp filed this 10-Q on May 9, 2024. Key takeaways: Ares Management Corp filed a 10-Q report for the period ending March 31, 2024.. The filing includes data for the fiscal year ending December 31.. The company's principal executive offices are located at 2000 Avenue of the Stars, 12th Floor, Los Angeles, CA 90067..

Is Ares Management Corp a risky investment based on this filing?

Based on this 10-Q, Ares Management Corp presents a moderate-risk profile. The filing is a standard 10-Q, which provides a snapshot of financial health but lacks forward-looking statements or specific performance metrics that would indicate immediate high risk or reward.

What should investors do after reading Ares Management Corp's 10-Q?

Review the detailed financial statements and management discussion within the 10-Q to understand Ares Management Corp's performance and strategic positioning. The overall sentiment from this filing is neutral.

How does Ares Management Corp compare to its industry peers?

Ares Management Corp operates within the investment management industry, providing a range of alternative investment strategies.

Are there regulatory concerns for Ares Management Corp?

The filing adheres to the regulations set forth by the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

Industry Context

Ares Management Corp operates within the investment management industry, providing a range of alternative investment strategies.

Regulatory Implications

The filing adheres to the regulations set forth by the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

  1. Analyze the financial statements for revenue, net income, and assets.
  2. Review any disclosed risk factors or management discussions.
  3. Compare key metrics to previous periods if available in the full filing.

Key Dates

  • 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q filing.
  • 2024-05-09: Filing Date — The date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is a 10-Q filing for the period ending March 31, 2024. Specific comparative data from the prior period (e.g., Q1 2023) would be detailed within the full report.

Filing Stats: 4,476 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-05-08 20:28:32

Key Financial Figures

  • $0.01 — stered Class A common stock, par value $0.01 per share ARES New York Stock Exchange

Filing Documents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 9 Condensed Consolidated Statements of Financial Condition as of March 3 1 , 202 4 and December 31, 202 3 9 Condensed Consolidated Statements of Operations for the three months ended March 3 1 , 202 4 and 202 3 10 Condensed Consolidated Statements of Comprehensive Income for the three months ended March 3 1 , 202 4 and 202 3 11 Condensed Consolidated Statements of Changes in Equity for the three months ended March 3 1 , 202 4 and for the year ended December 31, 2023 12 Condensed Consolidated Statements of Cash Flows for the three months ended March 3 1 , 202 4 and 202 3 14 Notes to the Condensed Consolidated Financial Statements 15

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 48

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 92

Controls and Procedures

Item 4. Controls and Procedures 93

—OTHER INFORMATION

PART II—OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 94

Risk Factors

Item 1A. Risk Factors 94

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 94

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 94

Mine Safety Disclosure

Item 4. Mine Safety Disclosure 94

Other Information

Item 5. Other Information 95

Exhibits

Item 6. Exhibits 96

Signatures

Signatures 97 2 Table of Contents Cautionary Note Regarding Forward-Looking Statements This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which reflect our current views with respect to, among other things, future events, operations and financial performance. You can identify these forward-looking statements by the use of forward-looking words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "predicts," "intends," "plans," "estimates," "anticipates," "foresees" or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business prospects, growth strategy and liquidity. Some of these factors are described in this report and in our Annual Report on Form 10-K for the year ended December 31, 2023, under the headings "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Item 1A. Risk Factors." These factors should not be construed as exhaustive and should be read in conjunction with the risk factors and other cautionary statements that are included in this report and in our other periodic filings. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from those indicated in these forward-looking statements. New risks and uncertainties arise over time, and it is not poss

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Ares Management Corporation Condensed Consolidated Statements of Financial Condition (Amounts in Thousands, Except Share Data) As of March 31, 2024 December 31, 2023 (unaudited) Assets Cash and cash equivalents $ 346,331 $ 348,274 Investments (includes accrued carried interest of $ 3,361,519 and $ 3,413,007 as of March 31, 2024 and December 31, 2023, respectively) 4,484,884 4,624,932 Due from affiliates 809,273 896,746 Other assets 519,292 429,979 Right-of-use operating lease assets 237,019 249,326 Intangible assets, net 1,030,076 1,058,495 Goodwill 1,130,085 1,123,976 Assets of Consolidated Funds: Cash and cash equivalents 1,199,376 1,149,511 Investments held in trust account 529,887 523,038 Investments, at fair value 13,790,030 14,078,549 Due from affiliates 15,924 14,151 Receivable for securities sold 243,998 146,851 Other assets 77,095 86,672 Total assets $ 24,413,270 $ 24,730,500 Liabilities Accounts payable, accrued expenses and other liabilities $ 262,551 $ 233,884 Accrued compensation 217,788 287,259 Due to affiliates 363,308 240,254 Performance related compensation payable 2,449,732 2,514,610 Debt obligations 3,046,182 2,965,480 Operating lease liabilities 308,336 319,572 Liabilities of Consolidated Funds: Accounts payable, accrued expenses and other liabilities 189,556 189,523 Due to affiliates 12,727 3,554 Payable for securities purchased 548,032 484,117 CLO loan obligations, at fair value 11,906,346 12,345,657 Fund borrowings 78,241 125,241 Total liabilities 19,382,799 19,709,151 Commitments and contingencies Redeemable interest in Consolidated Funds 529,787 522,938 Redeemable interest in Ares Operating Group entities 23,612 24,098 Non-controlling interests in Consolidated Funds 1,515,302 1,258,445 Non-controlling interests in Ares Operating Group entities 1,194,276 1,322,469 Stockholders' Equity Class A common stock, $ 0.01 par value, 1,500,000,000 shares authorized ( 191,057,86

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