Ares Management is trading lower today, facing downward pressure following reports that the firm is set to lose approximately half of its multi-hundred-million-pound investment in TalkTalk after its acquisition by BT Group. This negative development appears to be weighing on sentiment more heavily than the company's recent announcement regarding an expected $10 million in realized net performance income for the third quarter. The stock is also tracking a broader decline across the alternative asset management sector, with peers such as The Carlyle Group, Blackstone, and TPG all seeing similar or sharper losses during the session.