Ares Management reported higher earnings and revenue and said it had another record quarter of fundraising.

The company posted net income of $313 million, or 49 cents a share, up from $226 million, or 46 cents a share, a year earlier.

Fee-related earnings came in at $491.1 million, up from $409.1 million in the year-earlier period, while after-tax realized income reached $467.6 million, or $1.29 a share.

Total revenue climbed to $1.43 billion from $1.35 billion, with management fees up at $1.02 billion from $900.6 million.

"We continue to translate the scale and diversification of our platform into strong financial performance with many of our key financial metrics growing more than 20% year over year, and we remain on track to achieve our financial goals for the year," Chief Financial Officer Jarrod Phillips said.

During the quarter, Ares Management reported fundraising inflows of more than $36 billion, with net inflows of capital at $34.4 billion.

Total assets under management reached over $671 billion as of June 30, up 17% from a year earlier, supported by a record $170 billion in dry powder available for future investments.