The private wealth channel is a critical, high-growth area for alternative asset managers, expected to contribute a significant portion of future capital raising for the industry.
Ares Management is now a 'fully built' platform with a comprehensive, multi-asset product suite, positioning it to be one of the few top-tier managers for financial advisors.
Strategic acquisitions are the most effective method for rapidly building new business capabilities, entering new geographic markets like Japan, and expanding into adjacent asset classes like digital infrastructure.
The private wealth market is consolidating, with a handful of large firms, including Ares, capturing the majority of market share from a previously dominant single player.
Financial advisors' desire for diversification away from over-concentration in a single manager (like Blackstone) is a primary driver of opportunity for other scaled platforms like Ares.
▶Scaling the Private Wealth EngineApr 2026
DeVeer details Ares' deliberate strategy to capture the private wealth market, which is forecasted to provide 20% of the firm's new capital by 2025. This initiative was significantly accelerated by the acquisition of Black Creek, which instantly doubled the wealth management team and provided experienced leadership.
This highlights a major industry shift where alternative asset managers are aggressively building retail distribution channels, previously the domain of traditional finance, to fuel the next wave of AUM growth.
▶Competitive Dynamics and Market ConsolidationApr 2026
He portrays the private wealth alternatives market as one consolidating around a few key players, including Blackstone and Ares, which now hold 30-40% of the market share. He notes Blackstone's prior 60-65% dominance created an opening as financial advisors sought diversification.
DeVeer's commentary suggests the market is maturing from a single-player-dominated space to an oligopoly, where brand, scale, and a multi-product platform are the primary competitive moats.
▶Growth Through Strategic AcquisitionApr 2026
DeVeer emphasizes how targeted acquisitions have been instrumental to Ares' expansion. The purchase of Black Creek was foundational for the wealth management business, while the more recent GCP acquisition provided immediate entry into Japanese real estate and the digital infrastructure sector.
This reveals a 'buy-over-build' strategy for rapid capability enhancement and market entry, indicating that speed and acquiring established teams are prioritized over slower organic development in Ares' growth plans.
▶Building a 'Fully Built' Global PlatformApr 2026
DeVeer asserts that Ares now has a complete product suite covering credit, real estate, private equity, and infrastructure for both institutional and retail clients. With the platform considered complete, the firm's focus is shifting to scaling its existing businesses and expanding geographically, particularly in Asia.
The declaration of being 'fully built' signals a strategic pivot from platform construction to aggressive asset gathering and global scaling, suggesting the firm believes its core infrastructure is now complete.