Ares Management (NYSE:ARES) reported its Q1 earnings results on Friday, with EPS of $0.71 coming in worse than the Street estimate of $0.81. Fee-related earnings were $254.6 million. Realized performance income came in at $31.1 million.

Management believes capital deployment in Q1 ($12.9 billion gross deployment) was low due to seasonality and decreased market activity.

Analysts at RBC Capital maintained their view of a strong fundraising outlook for the company this year and noted that disruption in the bank industry could present capital deployment opportunities. The analysts raised their price target to $105 from $100 while reiterating their Outperform rating.