FundsPrivate Credit
Ares Capital Corporation

Ares Capital Corporation

Ares Management

Ares Capital Corporation banner

Overview

Ares Capital Corporation is a publicly traded BDC focused on middle-market debt and credit investments.

Key Statistics

Fund Size

$27,900M

Target Return

N/A

Realized annualized return since inception

13.0%

Launch Year

2004

Min. Investment

N/A

Liquidity Level

High (<1 year)

Liquidity Options

Public market trading

Highlights

Largest publicly traded BDC
~13% annualized return since IPO
Over $27.9B in total investments13

Investment Strategy

Strategy Allocation

  • First Lien Senior Secured Loans (including unitranche structures)
  • Second Lien Senior Secured Loans
  • Mezzanine Debt
  • Subordinated Debt
  • Private High Yield
  • Junior Capital
  • Preferred and Common Equity
  • Leveraged Buyout Transactions
  • Acquisition
  • Recapitalization
  • Restructurings
  • Rescue Financing
  • Growth Capital

Industry Focus

Industry Distribution

  • Health Care Equipment and Services
  • Software & Services
  • Commercial & Professional Services
  • Business Services
  • Consumer Products and Services
  • Insurance
  • Financial Services
  • Information Technology Services
  • Manufacturing
  • Consumer Distribution and Retail
  • Capital Goods
  • Sports Media and Entertainment
  • Pharmaceuticals Biotechnology & Life Sciences
  • Food & Beverage

Quick Facts

Structure

BDC

Product Category

Publicly Listed

Domicile

United States

GP Type

Single

Ticker

ARCC

Identifier (CUSIP)

04010L103

Investor Eligibility

Retail

Management Fee

1.5%

Carry

20%

Hurdle Rate

7%

High Water Mark

No

Catch-Up Mechanism

100% catch-up

Availability

N/A

Currencies

USD

US Fund Metrics

NAV per Share

$19.90

Market Price

$19.51

Discount/Premium

-1.96%

At discount

Market Yield

9.84%

Expense Ratio

1.50%

Distribution Frequency

Quarterly

Liquidity Terms

Publicly traded on NASDAQ - standard stock market liquidity, no redemption restrictions

Redemption Notice

N/A - publicly traded

Tax Form

1099-DIV

Performance Summary

Performance: 2024-01-01 to 2025-06-30

Common Stock (ARCC) — Performance from 2024-01-01 to 2025-06-30

Performance Comparison

Year to Date

2.21%

1-Year Return

10.54%

3-Year Return

12.46%

5-Year Return

18.86%

Annual Total Returns

YearTotal Return
20252.21%
202419.78%
202320.03%
2022-3.84%
202136.13%
20200.85%

Quarterly NAV Per Share

YearQ1 (Mar)Q2 (Jun)Q3 (Sep)Q4 (Dec)
2025$19.82$19.90
2024$19.53$19.61$19.77$19.89
Past performance does not predict future returns. ARCC is a publicly traded Business Development Company (BDC) on NASDAQ. Its performance includes both stock price appreciation and dividend distributions. Monthly granular performance data similar to private funds is not typically disclosed for public BDCs. The data represents total returns including reinvested dividends and quarterly NAV per share figures from SEC filings.

Insights by FundScouter

Ares Capital Corporation (ARCC) – Leading Business Development Company with Daily Liquidity

Ares Capital Corporation (ARCC) operates as a leading Business Development Company which provides daily liquidity to its investors.

Ares Capital Corporation (ARCC) enables institutional private credit access to investors through its Business Development Company structure which operates on a daily basis.

Ares Capital Corporation (ARCC) operates as the biggest publicly traded Business Development Company in the United States which enables investors to access Ares Management's direct lending platform through a publicly traded exchange-listed vehicle. The company operates under Ares Management Corporation management which operates as a leading global alternative asset manager to provide private credit access to all investors through ARCC's public structure.

MC_110424_ARCC6.jpg

The company established in October 2004 enables investors to access daily liquidity and transparent pricing through NASDAQ trading. The company functions as a closed-end management investment company while maintaining its operational bases in New York and Los Angeles. The company generates income and growth of capital through its investments in private middle-market businesses operating in the United States and specific international markets.

The company invests in first lien senior secured loans and second lien loans and mezzanine debt and subordinated debt and equity investments. The company maintains a $27.9 billion portfolio which includes 566 portfolio companies operating in healthcare and software and financial services and business services and manufacturing sectors and its existing assets.

Investors can purchase and sell shares of the company on NASDAQ during market hours without facing any redemption limitations or penalties. Investors can make immediate market-based transactions to enter or exit their positions. The stock experiences high daily trading volume of 9.52 million shares which ensures excellent market liquidity.

The company distributes its quarterly dividend payments to investors at a rate of $0.48 per share. The company has maintained stable or rising dividend payments for more than 64 consecutive quarters. The annual dividend payment of $1.92 generates a market yield of 9.84% for investors.

The entry point for ARCC investment requires only one share purchase at its current market price of $19.51 which makes it available to all investors. The investment process does not need any special qualifications because standard brokerage accounts allow all investors to buy shares.

The company imposes a 1.5% annual management fee and a 20% incentive fee on income exceeding 5% and a 20% capital gains fee. The fee structure of the company follows institutional BDC standards to establish investment alignment between Ares and its shareholders.

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The company achieved $13.76 billion in market capitalization during October 2025 while maintaining its position as the largest publicly traded BDC. The U.S. public market allows investors to access ARCC as the leading business development company through daily trading.

The publicly traded structure of ARCC enables modern investors to access private credit markets. The company enables institutional-grade private market access through its diversified portfolio and liquid trading system while Ares Management's extensive platform generates income and long-term capital appreciation for investors.

Additional Fund Details

Ticker Symbol

ARCC

Exchange

NASDAQ

IPO Date

October 8, 2004

Fund Size

$13.76 billion

(October 2025)

Share Classes

Common Stock

Liquidity

Daily NASDAQ trading

Dividend Frequency

Quarterly

Current Dividend

$0.48 per quarter

Dividend Yield

9.84%

Management Fee

1.5% annually

20-Year CAGR

12.20%

(2004-2025)

Other Ares Management Funds

Ares European Strategic Income Fund (AESIF) banner
Ares European Strategic Income Fund (AESIF) logo
Private Credit

Ares European Strategic Income Fund (AESIF)

Open-endSelective

Min. Investment

N/A

Mgmt Fee

2.25%

Domicile

Luxembourg

AESIF is a private credit fund offering exposure to European private debt markets, with a focus on direct lending to mid-market companies. It primarily invests in self-originated loans, secured and unsecured bonds, and other alternative credit strategies. A smaller allocation is made to liquid credit instruments such as syndicated leveraged loans and high-yield bonds, providing additional liquidity to the portfolio. The fund is structured as an open-ended SICAV, offering monthly redemptions subject to lock-up restrictions and redemption limits. Ares Management Corporation is a global alternative investment manager operating in the credit, private equity and real estate markets. The company was founded in 1997 with additional offices across North America, Europe, and Asia. As of September 2021, Ares Management Corporation's global platform had approximately $295 billion of assets under management.

Medium (1-5 years)
View Details
Ares Private Markets Fund (APMF) banner
Ares Private Markets Fund (APMF) logo
Private Equity

Ares Private Markets Fund (APMF)

Open-endOpen

Min. Investment

€25,000

Mgmt Fee

1.4%

Domicile

United States

Ares Private Markets Fund (APMF) is a diversified private equity investment vehicle designed to provide investors with exposure to private markets through a mix of secondary transactions, GP-led deals, primary commitments, structured solutions, and co-investments. By focusing heavily on secondaries, the fund seeks to acquire mature private equity assets, offering investors faster capital deployment and reduced early-stage investment drag. It targets a broad range of industries, with a core focus on buyout strategies and selective exposure to growth equity. Geographically, the fund is primarily North America-focused, with additional allocations in Europe and other global markets. Ares Management is a global leader in alternative investments, with deep expertise across private equity, private credit, real estate, and infrastructure. The firm’s dedicated secondaries team has a strong track record in sourcing, evaluating, and structuring transactions, providing access to high-quality private market opportunities. Through its expansive network and disciplined investment approach, Ares aims to generate strong risk-adjusted returns while offering liquidity features that make private equity more accessible to investors.

High (<1 year)
View Details

These details were written by FundScouter, and may have mistakes.

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