Ares AUM climbs 5.1% in latest quarter

Ares Management reported $207.2 billion in assets under management as of March 31, up 5.1% to $197 billion from the prior quarter and a 39.4% increase year over year.

Michael Arougheti, co-founder, CEO and president, said Thursday on a conference call with analysts that most of the increase in AUM during the year was due to fundraising; the initial public offering of Ares’ special purpose acquisition company, Ares Acquisition Corp.; and the acquisitions of Asian money manager SSG Capital Holdings and F&G Reinsurance, a life and annuity reinsurer.