In its first quarterly results since coming public, Ares Management reports Q2 economic net income of $75.1M vs. $18.2M a year ago. Pro forma for the IPO, ENI after-tax of $69.9M or $0.33 per unit.
Distributable earnings of $14.4M or $0.18 per unit. Distribution declared of $0.18.
Total AUM of $79.2B up 30.1% over the last year.
Management fee revenue of $143.4M up from $113.2M a year ago. Management fees were 88.5% of total fee revenue.
Performance Related Earnings of $40M vs. a $12.4M loss one year ago.
Conference call at 9 ET
ARES flat premarket