Ares Management (NYSE: ARES) reported Q3 EPS of $0.34, $0.05 worse than the analyst estimate of $0.39. Revenue for the quarter came in at $240.78 million versus the consensus estimate of $272.65 million.

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"Our assets under management crossed over $125 billion as we have experienced record fundraising with approximately $26 billion of gross capital raised through the first nine months,” said Michael Arougheti, Chief Executive Officer and President of Ares. “The benefits from our AUM growth and expanded investment capabilities are being reflected in record management fee income and fee related earnings for the third quarter, both of which have experienced double digit growth compared to the same period in 2017."

"We ended the third quarter with available capital representing 28% of our assets under management. Our considerable dry powder and the management fees tied to it have us well positioned to continue to pursue unique investment opportunities and grow our management fee revenue in the periods ahead,” said Michael McFerran, Chief Operating Officer and Chief Financial Officer of Ares. “Our previously announced legal conversion to a Delaware corporation is proceeding as planned and we expect to complete this process on November 30, 2018. We believe that this new structure will enable inclusion in certain equity indices and continue to increase the visibility of our stock to a broader group of global investors."

For earnings history and earnings-related data on Ares Management (ARES) click here.