Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Ares Management Corporation (ARES) Halal?

PASS

Ares Management Corporation · NYSE: ARES · Financials

The short answer

Yes -- Ares Management Corporation (ARES) passes this Shariah stock screen at all three gates. Per its own FY2025 10-K (filed February 25, 2026), Ares is a leading global alternative investment manager with $622.5 billion of assets under management across credit, real assets, secondaries and private equity; its own revenue is management fees, carried interest and incentive fees from managing third-party funds -- not conventional banking or conventional insurance underwriting, so the business-activity gate passes. Its interest and dividend income of $47.451M for FY2025 is about 0.85% of its $5,601.482M in total revenue, below the 5% non-compliant income ceiling. Its debt screen also passes: $3,941M of corporate debt obligations (the $9.888B of Consolidated Fund debt belongs to the managed funds) is about 15.31% of its ~$25.75B market cap ($116.57, latest close retrieved October 2, 2026; 220,902,613 Class A shares per the 10-K cover), below the ~33% ceiling. Note that Zoya flags ARES not Shariah-compliant and Musaffa classifies it not halal as of October 2026, while ShariaPortfolio has no ARES page -- these third-party positions are reported honestly and differ from this page's filing-based PASS outcome. This is a factual screen, not a religious ruling -- consult a qualified scholar for personal rulings.

Gate 1 — Business activity: PASS

Ares Management Corporation (NYSE: ARES), headquartered in Los Angeles, describes itself in its FY2025 10-K Item 1 as a leading global alternative investment manager with $622.5 billion of assets under management, operating integrated groups across Credit, Real Assets, Secondaries and Private Equity and serving over 2,850 direct institutional relationships. Its own revenue is management fees ($3,680M), carried interest allocation ($1,154M) and incentive fees ($362M) earned from managing third-party funds -- not conventional banking or conventional insurance underwriting. Business screen (factual, from the filing): direct-lending strategies are run inside the managed funds, and Ares Insurance Solutions acts as investment manager and capital partner to the Aspida insurance companies (Ares is the shareholder controller of Aspida Re in Bermuda), but the balance sheet carries no insurance policy liabilities -- Ares is an asset manager, not a bank or underwriter. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per Ares Management's FY2025 10-K (fiscal year ended December 31, 2025, filed February 25, 2026), interest-bearing debt was $3,941M -- debt obligations comprising $2,150M of senior notes, $450M of subordinated notes (net of unamortized discount) and the revolving Credit Facility outstanding balance, per Note 7. The $9.888B of debt obligations of the Consolidated Funds (fund-level CLO and loan obligations belonging to the managed funds) are not counted as corporate debt. Against a market cap of about $25.75B ($116.57 latest close retrieved October 2, 2026; 220,902,613 Class A common shares outstanding per the 10-K cover), debt divided by market cap is about 15.31%, below the ~33% ceiling. Cash and cash equivalents of $939.9M on the company's own books are about 3.65% of market cap. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

Ares Management's FY2025 10-K income statement reports interest and dividend income of $47.451M against total revenues of $5,601.482M -- about 0.85% of revenue, well under the 5% non-compliant income ceiling. This separately disclosed line is the company's own corporate interest/dividend income (including $11.9M from treasury-backed securities); the $575.3M of interest and other income of the Consolidated Funds belongs to third-party fund investors and is not the company's own revenue. Gate 3 passes. Facts only.

Key figures used

Frequently asked questions

What does Ares Management do?

Ares Management Corporation (NYSE: ARES), headquartered in Los Angeles, California, describes itself in its FY2025 10-K as a leading global alternative investment manager with $622.5 billion of assets under management as of December 31, 2025. It operates integrated investment groups across Credit, Real Assets, Secondaries and Private Equity, earning management fees, carried interest, and incentive fees from managing third-party funds for institutional and retail investors. The Credit group includes direct-lending strategies, but that lending is done by the managed funds, not by Ares as a conventional bank on its own balance sheet.

Is Ares Management (ARES) Shariah-compliant under this screen?

Ares Management passes all three gates of this screen. Gate 1 passes: its core business is managing third-party investment funds (management fees, carried interest, incentive fees) -- not conventional banking, conventional insurance underwriting, alcohol, gambling, pork, tobacco, or weapons. The filing notes Ares Insurance Solutions acts as investment manager and capital partner to the Aspida insurance companies (Ares is the shareholder controller of Aspida Re in Bermuda), but Ares does not underwrite insurance itself -- its balance sheet carries no policy liabilities. Gate 2 passes: $3,941M of corporate debt is about 15.31% of its ~$25.75B market cap, under the ~33% ceiling. Gate 3 passes: its own disclosed interest and dividend income of $47.451M is about 0.85% of $5,601.482M in total revenue, under the 5% ceiling. This is a factual screen, not a religious ruling -- consult a qualified scholar for personal rulings.

What is Ares Management's interest-bearing debt ratio?

Per Ares Management's FY2025 10-K (fiscal year ended December 31, 2025, filed February 25, 2026), interest-bearing debt was $3,941M -- debt obligations of $2,150M senior notes, $450M subordinated notes, and the revolving Credit Facility outstanding balance, net of unamortized discount. The $9.888B of debt obligations of its Consolidated Funds (CLO and fund-level liabilities, including $7.949B in long-dated commitments per the contractual obligations table) belong to the managed funds and are not counted as corporate debt. Against a market cap of about $25.75B ($116.57 latest close retrieved October 2, 2026; 220,902,613 Class A shares outstanding per the 10-K cover), debt divided by market cap is about 15.31% -- below the ~33% ceiling. Cash and cash equivalents of $939.9M on the company's own books are about 3.65% of market cap. Gate 2 passes.

What is Ares Management's non-compliant income ratio?

Ares Management's FY2025 10-K income statement reports interest and dividend income of $47.451M against total revenues of $5,601.482M -- about 0.85% of revenue, well under the 5% non-compliant income ceiling. The interest and dividend income line (the company's own corporate treasury and investment income, including $11.9M from treasury-backed securities that funded the GCP acquisition) is separately disclosed, and the $575.3M of interest and other income of the Consolidated Funds is attributable to third-party fund investors, not the company's own revenue, so it is excluded. Gate 3 passes.

Do Zoya, Musaffa, or ShariaPortfolio cover Ares Management?

Zoya covers ARES and flags it as not Shariah-compliant (zoya.finance/stocks/ares; the page's displayed assessment date was blank when accessed in October 2026; it cites interest income of $670.873M against revenue of $6,470.14M for FY2025, figures that differ from the filed 10-K and are Zoya's own). Musaffa covers ARES and classifies it as not halal as of October 2026 under its AAOIFI methodology (musaffa.com/stock/ARES/). ShariaPortfolio had no ARES Management Corp page -- no coverage found (its only Ares-related page covers Ares Commercial Real Estate, a different company). Both sites' assessments differ from this page's own PASS outcome; all three positions are reported honestly and this page applies the screen directly from Ares's own filings.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).