Not yet public during Q1, Ares Management (ARES) nevertheless reports Q1 results, with total AUM of $77B up 26.9% Y/Y.
Fee earning AUM of $57.2B up 20.3%. Management fees of $139.9M up 28.7%, and represented 86% of total fee income in Q1.
Economic net income of $77.4M fell from $93.9M a year ago thanks mostly to a decline in unrealized net performance fees in Tradable Credit (which had a big 2013 Q1).
CC at 12 ET
Previously: Ares Management Q1 results