Ares Management Raises $31 Billion in Third Quarter
The firm’s surge in dry powder signals higher deployment activity for borrowers in credit and infrastructure markets.
Updated on Oct. 30, 2026 in Corporate Finance
Live Poll
Is now a good time to increase your personal exposure to alternative investment funds?
Ares Management raised $31 billion in new capital during the third quarter of 2026, bringing its total assets under management to $690.6 billion. The firm is now positioning for increased investing activity in the fourth quarter after a period of significant growth across its credit and real assets platforms.
Why it matters
The firm’s fundraising momentum reflects strong demand from institutional and wealth channels, signaling continued appetite for alternative assets. This expansion follows a strategic pivot to scale the platform, including the 2025 acquisition of GCP International.
Ares Management reported $524.2 million in fee-related earnings, an 11% increase versus the prior year period, alongside $34.8 billion in deployed capital. Total assets under management grew to $690.6 billion as of September 30, 2026, supported by $173.8 billion in uninvested capital.
The players
Ares Management
A global alternative asset manager based in Los Angeles that specializes in private credit, real estate, and infrastructure investments.
GCP International
An international investment platform acquired by Ares in 2025 to expand the firm's infrastructure and real asset capabilities.
The details
Fundraising gains were driven by $15.2 billion in the credit group and $11.2 billion in real assets. The company actively deployed $34.8 billion into direct lending, alternative credit, and infrastructure projects, managing a high volume of dry powder that remains at $173.8 billion. This operational scale is bolstered by the 2025 integration of GCP International, which expanded the firm's reach into new international infrastructure markets.
Timeline
Ares completed the acquisition of GCP International in 2025.
The firm raised $31 billion in new capital during Q3 2026.
Total assets under management were calculated as of September 30, 2026.
Ares expects increased investing activity throughout Q4 2026.
Market Landscape
Ares Management’s latest results follow the strategic blueprint established by its 2025 acquisition of GCP International. The firm is currently moving toward a diversified global infrastructure model to compete with larger private market incumbents.
Operators should watch for increased competition in direct lending and infrastructure debt as Ares deploys its remaining $173.8 billion in dry powder. The firm’s focus on wealth channels suggests that private capital availability will remain robust for well-capitalized borrowers through the end of 2026.
The takeaway
Ares Management maintains high momentum as it prepares for a record year of fundraising in 2026. Business owners should monitor the firm's aggressive deployment pace in direct lending to gauge potential changes in loan terms and capital availability for the upcoming quarter.
Further reading
For more on how shifts in private credit fundraising affect market liquidity, see Corporate Finance.
Source note: This article includes information reported by DealStreetAsia.
Live Poll
Is now a good time to increase your personal exposure to alternative investment funds?
