Financial Performance - GAAP net income attributable to Ares Management Corporation was $137.1 million[1] - After-tax realized income was $367.9 million, with after-tax realized income per share of Class A common stock at $1.03[2] - Fee related earnings reached $409.1 million[2] Assets Under Management (AUM) - Total AUM reached $572.4 billion, a 28% increase year-over-year[9, 32, 35] - Total fee paying AUM was $349.6 billion, a 27% increase year-over-year[23, 32, 35] - Available capital stood at $150.8 billion[3, 23, 46] - AUM not yet paying fees available for future deployment was $86.8 billion, potentially generating $822.7 million in incremental annual management fees[23, 49] Capital Activity - Gross new capital commitments totaled $26.2 billion[23, 31] - Capital deployment amounted to $26.9 billion, including $13.0 billion by drawdown funds[23, 61, 65] Dividends - A quarterly dividend of $1.12 per share was declared for Class A and non-voting common stock[4, 23] - A quarterly dividend of $0.84375 per share was declared for the 6.75% Series B mandatory convertible preferred stock[5, 23]

Core Insights - Manulife Investment Management successfully closed its third co-investment fund, raising $1.1 billion, surpassing its $750 million target and exceeding the previous fund by over $300 million [1][4]. Fundraising Strategy - The successful fundraising reflects the effectiveness of Manulife IM's co-investment strategy, which leverages the firm's established primary funds platform and extensive relationships with over 200 global sponsor partners [2]. - The strategy aims to provide institutional investors with direct access to high-quality private equity opportunities in middle market companies, supported by a disciplined investment team [2]. Investor Base - The fund attracted a diverse global investor base, including public and corporate pensions, insurance companies, asset managers, financial institutions, and family offices, with Manulife's General Account also committing capital [3]. Leadership Commentary - Vipon Ghai, global head of private equity and credit at Manulife IM, expressed gratitude for the support from both new and returning investors, highlighting their trust as crucial to the fund's success [4]. - Scott Garfield, senior managing director, emphasized the strength of the firm's consistent strategy and experienced team, which enables access to diversified private equity opportunities [5]. Asset Management Overview - Manulife IM's private equity and credit platform manages over $28 billion in assets, which includes primary funds, co-investments, secondaries, and various credit types, as part of a broader private markets platform [6][7].