US Alternative Asset Manager Loses 1.7 Trillion Won in a Day Amid Ongoing AI Fears

Ares Management Corporation (NYSE: ARES) shares plunged 5.17% on April 22 in New York trading, closing at $114.79.

In a single session, the company’s market capitalization declined by roughly $1.2 billion (about KRW 1.7 trillion), bringing its total market cap to approximately $25.3 billion (around KRW 35 trillion).

Trading volume reached about 1.71 million shares, underscoring a clear sell-off by investors.

A recent hedge-fund investor letter noted that Ares Management’s stock fell 31.6% during the first quarter amid concerns over its artificial-intelligence exposure.

Analysts have also cut their price targets, pointing to heightened volatility and downward revisions to earnings forecasts, which they say sustain caution around the firm’s near-term profitability and asset quality.

Headquartered in Los Angeles, Ares Management is a global alternative-investment manager overseeing more than $600 billion in assets across private credit, private equity, real estate, infrastructure and other real assets.

By positioning private credit to fill gaps left by banks and emphasizing insurance-asset management as a growth driver, Ares—alongside Blackstone—has been regarded as one of the primary beneficiaries of the “golden age” of private credit.