Ares Management Corp.
stock was up 1.5% on Tuesday after beating its second-quarter earnings target, despite losses in financial stocks. Ares reported an adjusted profit of 90 cents a share, ahead of the analyst target of 85 cents a share, according to FactSet data. The company also said funds managed by its credit group closed about $4.1 billion in U.S. direct lending commitments across 51 transactions during the second quarter. In the year-ago quarter, Ares closed about $5.9 billion in U.S.
stock was up 1.5% on Tuesday after beating its second-quarter earnings target, despite losses in financial stocks. Ares reported an adjusted profit of 90 cents a share, ahead of the analyst target of 85 cents a share, according to FactSet data. The company also said funds managed by its credit group closed about $4.1 billion in U.S. direct lending commitments across 51 transactions during the second quarter. In the year-ago quarter, Ares closed about $5.9 billion in U.S.