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Management-fee revenue boosted Ares Management Corp.’s profit in the first quarter, even as private-capital firms in general find it more difficult to raise money.
“Our management fee-centric and [fee-related earnings] rich business model continued to deliver strong results despite the significant market volatility in the first quarter stemming from rising interest rates, continued geopolitical uncertainty and the challenges in the banking sector,” Chief Financial Officer Jarrod Phillips said during a call with analysts Friday…
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