Ares Management Corporation reports developments across its global alternative investment management platform, including credit, real estate, private equity and infrastructure strategies. Company news commonly covers quarterly results, fee and performance income, fundraising, fund closings, direct lending origination activity and dividend declarations on its common stock.
Updates also track Ares Credit funds, Ares Commercial Finance, value-add real estate vehicles, Asia credit and special situations strategies, and sub-advised credit products. Recurring themes include capital deployment, senior secured financing commitments, fundraising across asset classes, global platform expansion and operating leadership changes.
MidCap Financial Investment Corporation (NASDAQ: MFIC) reported quarterly net investment income of $0.34 per share, down from the preceding quarter. For the quarter ended September 30, 2026, that compares with $0.40 in June and $0.38 a year earlier. Net asset value per share fell 3.8% to $12.86 from June, reflecting credit-related weakness in a limited number of positions. The quarterly net loss was $0.20 per share, versus earnings of $0.29 a year earlier.
Debt outstanding declined to $1.58 billion from $1.74 billion in June. Ares Capital agreed to acquire MFIC for $10.88 per common share, comprising $9.67 in ARCC stock and $1.21 cash. MFIC suspended share repurchases in connection with the transaction and plans to suspend dividend reinvestment. The board declared a $0.31 quarterly dividend, payable December 22, 2026, to holders of record December 8.
MidCap Financial Investment Corporation (MFIC) canceled its third-quarter 2026 earnings call and webcast scheduled for November 5, 2026, because of its pending acquisition.
The company has entered into a definitive merger agreement under which Ares Capital Corporation (ARCC) will acquire it. MidCap will still release results for the quarter ended September 30, 2026, before the Nasdaq Global Select Market opens on November 5, 2026, as originally scheduled.
Ares Management (NYSE: ARES) announced that its credit funds closed approximately $6.3 billion in U.S. direct lending commitments during the third quarter of 2026. The commitments covered 55 transactions. For the 12 months ended September 30, 2026, the funds closed approximately $43.4 billion across 314 transactions.
Selected quarterly transactions included financing supporting CVC Capital Partners' acquisition of Chess.com, The Vistria Group's acquisition of Curi Capital, Berkshire Partners' acquisition of Harbourfront Wealth Management and GTCR's acquisition of Tactacam. Other facilities supported sponsors' continued growth plans for portfolio companies.
Ares Management (NYSE: ARES) reported third-quarter 2026 GAAP net income attributable to the company of $85.3 million. Basic and diluted earnings were $0.21 per Class A and non-voting common share for the quarter ended September 30. After-tax realized income was $449.6 million, or $1.26 per Class A share, while fee related earnings were $524.2 million.
Ares raised more than $31 billion in gross capital commitments, with over half of inflows outside its Credit Group, and invested $35 billion. The company expects another record fundraising year and to meet or exceed its financial objectives for 2026.
Ares declared a quarterly common dividend of $1.35 per share, payable December 31, 2026, and a Series B preferred dividend of $0.84375 per share, payable January 1, 2027. Its Class A dividend reinvestment program will be effective for the December 31 dividend.
Ares Capital (ARCC) agreed to acquire MidCap Financial Investment (MFIC) in a stock-and-cash transaction valued at approximately $2.6 billion in enterprise value. MFIC holders are expected to receive $10.88 per fully diluted share, comprising approximately $1.21 in cash from an Ares Management subsidiary and approximately $9.67 in Ares Capital stock. The stock consideration will be reduced dollar-for-dollar by MFIC’s planned special dividend of remaining undistributed taxable income.
Ares Capital expects modest accretion to core earnings per share and a pro forma portfolio exceeding $31 billion at fair value as of September 30, 2026. It may issue up to approximately 41 million shares, with fewer expected after the dividend adjustment. Wells Fargo agreed to provide $750 million of additional secured financing. Closing is expected in the first half of 2027, subject to MFIC shareholder and applicable regulatory approvals.
Ares Capital (NASDAQ: ARCC) declared a fourth-quarter dividend of $0.48 per share, payable December 29, 2026, alongside lower third-quarter earnings. Stockholders of record on December 15 qualify for the payment. Third-quarter GAAP net income was $319 million, or $0.44 per share, versus $404 million, or $0.57, a year earlier. Net investment income fell to $328 million from $338 million.
At September 30, net asset value was $19.31 per share, down from $19.94 at December 31, 2025. Loans on non-accrual status rose to 2.4% of investments at amortized cost from 1.8%. Quarterly gross commitments fell to $2.109 billion from $3.924 billion a year earlier. Ares Capital issued $750 million of unsecured notes during the quarter. It ended September with $722 million in cash and approximately $6.9 billion of additional borrowing availability, subject to borrowing-base and other restrictions.
Ares Management (ARES) announced that Chief Financial Officer Jarrod Phillips is scheduled to present at the BMO Financials Conference on November 10, 2026.
The presentation is scheduled for 9:30am ET. A live audio webcast will be available in the Investor Resources section at www.ares.com, with a replay available shortly after the event.
TransAlta (TAC) closed the sale of a 49 per cent interest in its Oklahoma wind portfolio to Ares Infrastructure funds for US$305 million.
Cash proceeds are before customary closing adjustments. The 500 MW portfolio has long-term contracts with investment-grade counterparties and production tax credits expiring in 2034. Expected 2026 Adjusted EBITDA, a non-IFRS earnings measure, is approximately US$60 million, including approximately US$29 million attributable to the sold interest. TransAlta retains operational oversight under a long-term asset management agreement and expects proceeds to support its balance sheet and growth, including Centralia conversion and Alberta data centre projects.
TransAlta also completed the acquisition of Mountain Peak Power and Canyon Peak Power from Blackstone for US$1.0 billion, including US$750 million of assumed senior secured project-level debt. The two fully contracted gas-fired peaking facilities near Denver total 318 MW.
Ares Management (NYSE: ARES) has established a European logistics investment partnership with Norges Bank Investment Management worth up to €1.5 billion.
NBIM has made an equity commitment of €1.5 billion. Ares plans to target modern logistics assets across Europe serving supply chain, distribution and e-commerce needs. The strategy will use the insights and resources of Marq Logistics, Ares’ integrated logistics operating platform. The partnership gives NBIM access to existing assets and development opportunities.
KKR (NYSE: KKR) agreed to sell Infinity Transportation to Ares funds for an enterprise value of approximately $2.9 billion. The buyers are Ares Infrastructure Equity and Ares Insurance Solutions funds. The transaction is expected to close in the first quarter of 2027, subject to regulatory approvals and customary closing conditions.
Infinity owns and manages approximately 50,000 railcars leased to more than 350 unique lessees across the United States, Canada and Mexico. KKR’s wholly owned subsidiary Global Atlantic has invested in Infinity since 2016. Since 2021, Infinity established a standalone operating platform and expanded its fleet with KKR’s support, increasing book value by 150%.