Financial Data and Key Metrics Changes - Ares Management reported a 28% year-over-year increase in management fees, totaling $971 million, and a 39% increase in fee-related earnings (FRE) [6][22] - Realized income increased by 34% year-over-year, reaching $456 million, with after-tax realized income per share of Class A stock growing by 25% [22][29] - Assets under management (AUM) rose to over $595 billion, with fee-paying AUM increasing to $368 billion, both up 28% year-over-year [8][22] Business Line Data and Key Metrics Changes - The firm raised over $30 billion in new capital during the quarter, the highest on record, contributing to a year-to-date total of over $77 billion [7][8] - Gross deployment reached over $41 billion, a 55% increase from the previous quarter and 30% above the previous high [8] - The infrastructure secondaries fund closed at $3.3 billion, exceeding its hard cap due to strong investor demand, making it one of the largest in the market [10] Market Data and Key Metrics Changes - The firm experienced strong demand for private credit strategies, with $19.3 billion raised in credit strategies during the quarter [11][12] - The wealth management segment saw a record $5.4 billion in equity inflows, with significant contributions from international markets, particularly Japan [16][18] - The diversified non-traded REIT achieved the highest quarterly common stock raise in over two years, maintaining a 20% market share in the 1031 exchange space [17] Company Strategy and Development Direction - Ares Management aims to continue increasing its quarterly dividend, with a 20% increase announced for the current quarter [4][5] - The company is focused on expanding its investment strategies, including launching new funds in various sectors such as digital infrastructure and special situations [15][40] - Ares is positioning itself to benefit from potential credit cycle changes, emphasizing its asset-light model and strong fundraising capabilities [39][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the current credit market conditions, indicating that recent bankruptcies are isolated incidents and not indicative of a broader credit cycle downturn [32][33] - The firm anticipates strong M&A activity and deployment opportunities in the upcoming quarters, supported by improving financing conditions [19][20] - Management highlighted the ongoing demand for durable income and differentiated private market solutions, which positions Ares favorably for future growth [8][19] Other Important Information - Ares has committed to donating a portion of fund performance fees to charitable organizations through the Promote Giving initiative, reflecting the firm's core values [20][21] - The company is actively investing in expanding its investment teams and capabilities across various products and geographies [40] Q&A Session Summary Question: Real estate market outlook and Ares' position - Management highlighted Ares' strong position as the third-largest institutional real estate manager, benefiting from scale and a vertically integrated platform [43][44] Question: Fundraising outlook for next year - Management expressed confidence in surpassing the previous record of $93 billion in fundraising, driven by strong performance and diverse strategies [47][48] Question: Impact of lower yields in private credit - Management indicated that investor appetite for private credit remains strong, as it offers relative returns compared to traded alternatives, and lower rates could lead to increased transaction activity [53][54] Question: Update on GCP transaction integration - Management reported positive integration progress with GCP, enhancing Ares' real estate platform and expanding opportunities in data centers [61][63] Question: Wealth fundraising acceleration - Management noted strong momentum in wealth fundraising, particularly from new product launches and international markets, with expectations for continued growth [70][71] Question: Acquisition of BlueCove and Liquid Credit - Management discussed the strategic fit of BlueCove within Ares' insurance capabilities, anticipating significant growth and synergies from the acquisition [73][74] Question: Asset-based finance market strategy - Management outlined a balanced approach to sourcing opportunities in both rated and non-rated markets, with significant deployment growth expected [78][80]

Barron's Advisor Read More This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Private-Equity Firm Combines Businesses To Form Wealth Management Juggernaut Newly reconstituted Wealthspire will have $580 billion in client assets in private accounts and retirement plans. By Da ...

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TABLE OF CONTENTS As filed with the Securities and Exchange Commission on October 31, 2025. Registration No. 333-290831 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 1 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 (Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant's Principal Executive Offices) Central Bancompany, Inc. Jeremy W. Colbert Executive Vice President, General Counsel and Corporate Secretary Central B ...

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Core View - Franklin Financial Services Corporation reported a net income of $5.4 million for Q3 2025, reflecting a 26.9% increase year-over-year, driven by higher interest income from loan growth [2][3] Financial Performance - For the nine months ended September 30, 2025, net income rose 43.1% to $15.2 million, with net interest income for Q3 increasing 24.2% to $18.2 million [3] - Non-interest income for the quarter was $4.8 million, down 0.9% from the previous year, with wealth management fees increasing 8% to $2.3 million [4] - Non-interest expenses increased 8.8% year-over-year to $15.1 million, while the effective tax rate rose to 19.6% from 17.3% [5] Key Business Metrics - Return on average assets (ROA) improved to 0.93% from 0.80%, and return on average equity (ROE) increased to 13.39% from 11.86% [5] - Total net loans increased 11.8% to $1.54 billion, with assets rising 4.5% to $2.30 billion and deposits increasing 4.8% to $1.90 billion [8] Management Commentary - Management highlighted the strength of the core banking franchise and disciplined balance sheet growth, with sustained loan expansion contributing to improved earnings [6] - The decision to redeem $9 million of subordinated notes was seen as a sign of confidence in the capital position, despite a modest impact on quarterly net income [7] Future Outlook - Management expressed confidence in loan demand and expects net interest margin stability, although non-interest expenses may remain elevated due to wage pressures [12] - The company repurchased 12,800 shares in the first nine months of 2025 and declared a quarterly dividend of 33 cents per share, a 3.1% increase from the previous year [13][14]

Core Viewpoint - Industrial Bank reported a slight decline in operating income and a modest increase in net profit for the first three quarters of 2025, indicating a stable yet challenging financial environment [2][5]. Financial Performance - For the first three quarters of 2025, the bank achieved operating income of 161.23 billion yuan, a year-on-year decrease of 1.82% [2][5]. - The net profit attributable to shareholders was 63.08 billion yuan, reflecting a slight increase of 0.12% year-on-year [2][5]. - In Q3 alone, operating income was 50.78 billion yuan, down 0.78% year-on-year, while net profit for the same period was 19.94 billion yuan, a decrease of 0.08% [2][5]. Asset Quality - As of September 2025, the non-performing loan (NPL) ratio stood at 1.08%, an increase of 0.01 percentage points from the end of the previous year [2][8]. - The ratio of special mention loans decreased to 1.67%, down 0.04 percentage points from the end of the previous year [2][8]. - The bank reported a total NPL balance of 64.56 billion yuan, an increase of 3.08 billion yuan compared to the previous year [8]. Loan and Deposit Growth - The total assets of Industrial Bank reached 10.67 trillion yuan, growing by 1.57% from the end of the previous year [5]. - Customer loan balances amounted to 5.99 trillion yuan, reflecting a growth of 4.42% year-on-year [5]. - Customer deposits increased to 5.83 trillion yuan, a rise of 5.47% from the previous year [5]. Non-Interest Income - The bank's net fee and commission income was 20.08 billion yuan, showing a year-on-year increase of 3.79% [6]. - Other non-interest income totaled 30.19 billion yuan, which decreased by 9.28% due to market interest rate fluctuations [6]. Risk Management - The bank has maintained a provision coverage ratio of 227.81%, although this represents a decrease of 9.97 percentage points from the previous year [8]. - The bank has focused on risk management, particularly in the corporate real estate and credit card sectors, where new non-performing loans have decreased year-on-year [8][9]. Strategic Focus - The bank aims to enhance its professional service capabilities and optimize product design and business processes to improve customer experience [9].