Ares raises record $36 billion in Q2 as private credit defaults and redemptions stay elevated
AI Market Summary
Ares and Blue Owl reported resilient Q2 results and strong AUM growth, with Ares posting record fundraising and sizable dry powder, supporting confidence in private credit managers' fee and deployment outlook. However, elevated defaults in industrials/healthcare and unusually high redemption requests at retail-focused funds highlight ongoing liquidity and credit stress. Rising secondary volumes and GP-led deals signal increased repositioning to meet investor liquidity needs.
Impact level
● Medium
Affected assets
NCSKOWL2USD/USDT+3.00%
AI Insight · NCSKOWL2USD/USDTAI Insight
● Neutral
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Ares Management posted second-quarter results that included record fundraising of $36 billion, with $23.7 billion raised for its credit strategies, lifting assets under management 17% from a year earlier to $671.3 billion. Its BDC, Ares Capital, reported core earnings of 47 cents per share in line with expectations, maintained its dividend and had about $6 billion of available liquidity. Blue Owl Capital said assets under management ended June at $319 billion, up 12% from a year earlier. Despite the sector’s strong growth, the report noted that default rates and redemption pressures remain elevated.
