Ares Announces Record Fourth Quarter and Full-Year 2025 U.S. Direct Lending Origination Activity

Rhea-AI Summary

Ares (NYSE:ARES) reported record U.S. direct lending originations of approximately $19.4 billion closed in Q4 2025 across 119 transactions, and approximately $55.0 billion closed in the 12 months ended December 31, 2025 across 358 transactions.

Selected Q4 transactions included senior secured facilities supporting acquisitions, recapitalizations, and corporate growth for companies such as Bain Capital/Concert Golf Partners, Moderna, TPG/Pike Corporation, and others.

Positive

• Closed $19.4 billion in U.S. direct lending commitments in Q4 2025 across 119 transactions
• Closed $55.0 billion in U.S. direct lending commitments in the 12 months ended Dec 31, 2025 across 358 transactions

Negative

• None.

News Market Reaction

-11.19% 1.7x vol

47 alerts

-11.19% News Effect

-7.7% Trough in 5 hr 25 min

-$5.65B Valuation Impact

$44.85B Market Cap

1.7x Rel. Volume

On the day this news was published, ARES declined 11.19%, reflecting a significant negative market reaction. Argus tracked a trough of -7.7% from its starting point during tracking. Our momentum scanner triggered 47 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $5.65B from the company's valuation, bringing the market cap to $44.85B at that time. Trading volume was above average at 1.7x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Q4 2025 new commitments: $19.4 billion Q4 2025 transactions: 119 transactions 2025 new commitments: $55.0 billion +1 more

4 metrics

Q4 2025 new commitments $19.4 billion Record U.S. direct lending commitments closed in Q4 2025

Q4 2025 transactions 119 transactions Number of U.S. direct lending commitments in Q4 2025

2025 new commitments $55.0 billion Record U.S. direct lending commitments in 12 months ended Dec 31, 2025

2025 transactions 358 transactions Total U.S. direct lending commitment transactions in 2025

Market Reality Check

Price: $137.25 Vol: Volume 7,895,318 is 2.73x...

high vol

$137.25 Last Close

Volume Volume 7,895,318 is 2.73x the 20-day average of 2,897,334, indicating elevated interest ahead of/around this record origination update. high

Technical Shares at $137.22 trade below the $166.20 200-day MA and are 31.56% under the 52-week high, despite being 24.03% above the 52-week low.

Peers on Argus

While ARES gained 4.27%, key asset-management peers like APO, AMP, BAM, BN, and ...

While ARES gained 4.27%, key asset-management peers like APO, AMP, BAM, BN, and RJF also rose between 1.96% and 3.83%, but the momentum scanner did not flag a sector-wide move, suggesting a more company-specific emphasis on this record origination update.

Historical Context

5 past events · Latest: Feb 03 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 03	BlueCove acquisition	Positive	-10.2%	Closed BlueCove deal, launching Ares Systematic Credit with added AUM and team.
Feb 02	Strategic investment	Positive	-2.1%	New strategic investment in Elara Caring alongside DaVita to expand in‑home care.
Jan 30	Tax reporting	Neutral	-2.1%	ARCC detailed 2025 common stock distribution tax character and ordinary income mix.
Jan 29	Evermark financing	Positive	+1.3%	Led $1.6B debt financing to support Suave and Elida merger creating Evermark.
Jan 27	Conference appearance	Neutral	+0.3%	Announced CEO presentation at Bank of America 2026 Financial Services Conference.

Pattern Detected

Recent Ares news often saw muted or negative reactions, even on seemingly positive strategic updates, with only the Evermark financing showing a clearly positive alignment.

Recent Company History

Over the past few weeks, Ares reported several strategic milestones. On Jan 29, it led a $1.6 billion financing for the Evermark merger, followed by an acquisition of BlueCove on Feb 03 adding $5.5 billion of AUM to Ares Credit. Additional updates included a strategic investment in Elara Caring, ARCC’s 2025 tax reporting, and an upcoming conference appearance on Feb 10, 2026. Against this backdrop, today’s record U.S. direct lending origination underscores continued scaling of the platform.

Market Pulse Summary

The stock dropped -11.2% in the session following this news. A negative reaction despite record orig...

Analysis

The stock dropped -11.2% in the session following this news. A negative reaction despite record origination volumes would fit prior patterns where seemingly constructive updates, such as acquisitions and strategic investments, coincided with selling. Investors may have focused on concentration risk, credit-cycle concerns, or earnings-related details released around the same period. With the stock already 31.56% below its 52‑week high, any further downside could reflect worries about sustainability of the $55.0 billion annual origination pace.

Key Terms

administrative agent, lead arranger, bookrunner, senior secured credit facility, +2 more

6 terms

administrative agent financial

"Ares served as an administrative agent, lead arranger and bookrunner for a senior secured..."

An administrative agent is a bank or financial firm appointed to handle the day-to-day paperwork and communication for a group of lenders on a loan or credit agreement, acting as the central point for collecting payments, distributing funds, monitoring covenants, and sharing information. For investors, the administrative agent matters because it influences how quickly lenders receive updates, how smoothly repayments and waivers are handled, and how effectively the lending group enforces terms — think of it as a property manager coordinating tasks for multiple owners.

lead arranger financial

"Ares served as an administrative agent, lead arranger and bookrunner for a senior secured..."

A lead arranger is the main bank or financial institution that organizes a large loan by putting together other lenders, setting the loan terms and coordinating the paperwork much like a project manager assembling a team. Investors watch the lead arranger because its reputation and decisions affect the loan’s pricing, structure and perceived risk, which can change a company’s cost of borrowing and impact lenders’ returns.

bookrunner financial

"Ares served as an administrative agent, lead arranger and bookrunner for a senior secured..."

A bookrunner is the lead bank or financial firm that organizes and manages a new securities offering, acting like a project manager who sets the price range, collects investor demand, and decides how shares are allocated. For investors, the bookrunner’s choices and reputation influence the final price, how many shares each buyer receives, and the overall chance the deal succeeds — similar to how a trusted referee shapes a fair and well-run auction.

senior secured credit facility financial

"for a senior secured credit facility to support Bain Capital's acquisition of Concert Golf..."

A senior secured credit facility is a loan or revolving line of credit where lenders have first legal claim on specific company assets (collateral) and the debt ranks above other obligations for repayment. For investors it signals where a lender sits in the repayment pecking order and how much protection creditors have if the company struggles, affecting credit costs, the company’s ability to borrow more, and potential recoveries in a default — like a mortgage taking priority over other claims on a house.

recapitalization financial

"to support TPG's recapitalization of Surescripts. Surescripts is a leading healthcare network..."

Recapitalization is a deliberate change to a company's mix of debt and equity—how much it borrows versus how much is funded by shareholders—accomplished by issuing or repaying debt, buying back shares, or issuing new shares. It matters to investors because it alters the company's risk profile, potential returns and cash flow stability: increasing debt can amplify returns but raises the chance of financial stress, while adding equity can dilute ownership but lower default risk—like swapping between a mortgage and savings to reshape household finances.

take-private financial

"in its take-private acquisition of Renold plc. Webster Industries & Renold are designers..."

A take-private is when a buyer—often a private investor group or company—buys all publicly traded shares of a company and removes it from public stock markets, similar to purchasing a public storefront and converting it into a privately owned business. It matters to investors because public shareholders typically receive a cash or stock offer and must decide whether to accept that buyout price; afterward the company’s shares stop trading publicly, reducing liquidity and changing oversight and risk profiles as the business operates without public-market reporting requirements.

AI-generated analysis. Not financial advice.

Record $19.4 Billion in New Commitments Closed in the Fourth Quarter and, $55.0 Billion Closed in the 12 Months Ended December 31, 2025

NEW YORK, NY / ACCESS Newswire / February 5, 2026 / Ares Management Corporation (NYSE:ARES) announced today that Ares Credit funds (collectively "Ares") closed record U.S. direct lending commitments of approximately $19.4 billion across 119 transactions during the fourth quarter of 2025 and approximately $55.0 billion across 358 transactions in the 12 months ended December 31, 2025. Below is a description of selected transactions that Ares closed during the fourth quarter of 2025.

Concert Golf Partners / Bain Capital
Ares served as an administrative agent, lead arranger and bookrunner for a senior secured credit facility to support Bain Capital's acquisition of Concert Golf Partners. Concert Golf Partners is a leading private golf club owner and operator with a portfolio of clubs located throughout the U.S.

Ecowaste Solutions / Kinderhook Industries
Ares served as an administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Kinderhook's continued growth plans for Ecowaste Solutions. Ecowaste Solutions is a regional provider of solid waste collection services for residential, commercial, and industrial customers.

Evermark, LLC / Yellow Wood Partners
Ares served as an administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support the merger of Suave Brands Company and Elida Beauty (both existing Yellow Wood and Ares portfolio companies) to create Evermark, LLC. Evermark is a leading global platform of iconic brands across hair care, skin care, body care, and personal essentials.

Moderna, Inc
Ares served as an administrative agent, sole lead arranger and sole bookrunner for a senior secured credit facility to support continued growth plans for Moderna. Moderna is a biotechnology company focused on advancing messenger RNA ("mRNA") medicines.

Pike Corporation / TPG
Ares served as an administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support TPG's acquisition of Pike Corporation. Pike Corporation is among the nation's leading providers of turn-key infrastructure solutions, including construction and engineering for electric distribution, transmission and substation, renewables and distributed energy resources, and telecommunications services.

Quirch Foods Holdings, LLC / Palladium Equity Partners
Ares served as administrative agent, lead arranger and lead bookrunner for a senior secured credit facility to support continued growth plans for Quirch Foods Holdings. Quirch Foods Holdings is one of the largest privately held specialty food distributors in North America.

Surescripts, LLC / TPG Inc.
Ares served as an administrative agent, lead arranger and bookrunner for a senior secured credit facility to support TPG's recapitalization of Surescripts. Surescripts is a leading healthcare network in the US, providing e-prescription routing, patient eligibility checks, medication history, and other ancillary services.

Webster Industries & Renold / MPE Partners
Ares served as an administrative agent, lead arranger, and bookrunner for a senior secured credit facility to support Webster Industries, an existing portfolio company of MPE Partners, in its take-private acquisition of Renold plc. Webster Industries & Renold are designers and manufacturers of premium industrial chain, engineered class sprockets, torque transmission products, and other complementary material handling and power transmission solutions across a diverse set of end markets.

About Ares Management Corporation
Ares Management Corporation (NYSE:ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2025, Ares Management Corporation's global platform had over $622 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

Investor Relations:
irares@aresmgmt.com

Media:
media@aresmgmt.com

SOURCE: Ares Management Corporation

View the original press release on ACCESS Newswire

FAQ

How much did ARES close in U.S. direct lending in Q4 2025?

Ares closed approximately $19.4 billion in Q4 2025 across 119 transactions. According to the company, these were senior secured commitments supporting acquisitions, recapitalizations, and growth financing for portfolio and sponsor-backed companies.

What were ARES's total U.S. direct lending commitments for the full year 2025?

Ares closed approximately $55.0 billion in the 12 months ended December 31, 2025 across 358 transactions. According to the company, the annual total reflects record origination activity across diverse sectors and sponsor-backed deals.

Which notable companies did ARES provide financing for in Q4 2025?

Key Q4 financings included facilities supporting Bain Capital/Concert Golf Partners, Moderna, TPG/Pike Corporation, and others. According to the company, Ares acted as arranger or agent on multiple senior secured credit facilities for these transactions.

What types of transactions made up ARES's Q4 2025 originations?

The Q4 originations were primarily senior secured credit facilities used for acquisitions, mergers, recapitalizations, and growth capital. According to the company, transactions supported sponsor buyouts, corporate growth plans, and take-private financings.

How active was ARES with sponsor-backed deals in 2025 (symbol ARES)?

Ares reported extensive sponsor-backed activity, closing 358 commitments for the year, many supporting private equity transactions. According to the company, Ares frequently served as administrative agent, lead arranger, or bookrunner on these sponsor-focused credits.