ARES.PB 最新10-Q变化

相对上期新增的文字 · 来源:10-Q · 2026-05-08

• During the first quarter of 2026, global markets experienced heightened volatility amid the geopolitical tension and conflicts in the Middle East, elevated energy prices and changes in monetary policy expectations. As a result, U.S. and European high yield bonds and leveraged loans were pressured, w…

• Despite elevated uncertainty from the market volatility, global commercial real estate fundamentals strengthened in the first quarter of 2026. Transaction volumes continued to increase, debt availability improved and property values appreciated across markets. Notwithstanding overall strengthening t…

• Private equity activity moderated during the quarter, with dealmaking and exit activity softening amid continued market selectivity and elevated uncertainty in private credit markets. Sponsors remained highly selective, prioritizing businesses with resilient fundamentals and clear paths to value cre…

• (1) Includes $5.4 billion and $5.2 billion of non-fee paying AUM from our general partner and employee commitments as of March 31, 2026 and 2025, respectively.

• (1)Includes $98.2 billion and $76.7 billion from funds that primarily invest in illiquid strategies as of March 31, 2026 and 2025, respectively. The underlying investments held in these funds are generally subject to less market volatility than investments held in liquid strategies.

相对上期删除的文字 · 来源:10-Q · 2025-11-06

• During the third quarter of 2025, macroeconomic and geopolitical developments continued to shape sentiment across global equity and debt markets. Markets largely remained resilient and performed well despite continued volatility. The U.S. public equity markets were supported by interest rate cuts th…

• The commercial real estate markets continued to recover during the quarter, driven by increased transaction volumes and steady property valuations and capitalization rates. The U.S. real estate markets improved, with interest rate cuts also driving positive momentum during the quarter. However, the …

• Private equity activity rebounded in the third quarter, marking a shift in market sentiment following a subdued first half of the year. Transaction and exit activity accelerated, fueled by easing interest rates and a narrowing valuation gap between buyers and sellers. We believe that stabilized mark…

• (1) Includes $14.0 billion and $14.4 billion of AUM of funds from which we indirectly earn management fees as of September 30, 2025 and 2024, respectively, and includes $5.7 billion and $4.2 billion of non-fee paying AUM from our general partner and employee commitments as of September 30, 2025 and …

• Net allocations among investment strategies2,781 — — — (2,781)—

相对上期新增的文字 · 来源:10-Q · 2026-05-08

• There have been no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) and 15d-15(f) under the Exchange Act) during the quarter ended March 31, 2026 that have materially affected, or that are reasonably likely to materially affect, our internal control over financi…

相对上期删除的文字 · 来源:10-Q · 2025-11-06

• effectiveness of the design and operation of our disclosure controls and procedures as of September 30, 2025. Based upon that evaluation and subject to the foregoing, our principal executive officer and principal financial officer concluded that, as of September 30, 2025, the design and operation of…

• There have been no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) and 15d-15(f) under the Exchange Act) during the quarter ended September 30, 2025 that have materially affected, or that are reasonably likely to materially affect, our internal control over fin…