By Jack Denton
Ares Management stock advanced on Friday after the alternative investment manager reported earnings, bucking worries -- for now -- that have dragged on the private credit space.
Ares reported net income of $142.6 million, or 46 cents per share, for the first quarter. The stock was up 1.5% in premarket trading on Friday.
"We reported strong first quarter results highlighted by continued growth across our key financial metrics, including record first quarter fund-raising of $30 billion, up more than 45% year over year," said Michael Arougheti, the group's CEO. "We are on track for another record year of fund-raising as we continue to see broad-based investor demand across our platform."
Despite the lift on Friday, Ares stock has been down in the dumps, with the shares losing a quarter of their value in the last six months.
Investors have been worrying over the health of the private credit space and a number of funds endured what amounted to a bank run in April.
"We ...continue to see strong fundamental performance across our investment portfolios despite the volatile market environment," said Arougheti.
Another alternative investment manager, Blue Owl Capital, reported better-than-expected profit on Thursday, sending the stock almost 2% higher as the company emphasized other areas of business besides private credit. Blue Owl stock has fared even worse than Ares, with the stock down almost 40% in the last six months.
Write to Jack Denton at jack.denton@barrons.com
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May 01, 2026 08:35 ET (12:35 GMT)
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