Ares Management
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Ares Management
Ares Management Corporation
TypePublic
NYSEARES
IndustryAsset Management
Founded1997; 24 years ago (1997)
FounderAntony Ressler, John Kissick, Michael Arougheti, David Kaplan, and Bennett Rosenthal
HeadquartersLos Angeles, United States
Productsprivate capital management
RevenueIncrease US$ 1.765 billion (2019)[1]
Increase US$ 302.6 million (2019)[1]
Increase US$ 148.8 million (2019)[1]
AUM$197 billion (2020) [2]
Increase US$ 12.014 billion (2019)[1]
Increase US$ 768.2 million (2019)[1]
Number of employees
1,200 (2020)[1]
Websitewww.aresmgmt.com
www.arescapitalcorp.com
www.arescre.com
www.arespublicfunds.com

Ares Management Corporation (NYSE: ARES) is a global alternative investment manager operating three integrated businesses across credit, private equity and real estate. In 1997, Ares was founded by a veteran team of investment professionals to pursue investment opportunities and deliver flexible capital across all levels of a company's structure and in different market environments. Ares is headquartered in Los Angeles, with additional offices across North America, Europe, and Asia.

The firm reported over $149 billion in assets under management at the end of March 2020. Around 76% of assets ($112.5 billion) are in the credit business, 12% ($22.0 billion) are in private equity, and 9% ($14.1 billion) was in real estate as of last quarter.

History

The firm was established in 1997.[3] The co-founders include Antony Ressler, Michael Arougheti, David Kaplan, John H. Kissick, and Bennett Rosenthal.[4]

It has several subsidiaries:

Ares Capital Corporation established in 2004, provides financing for middle market acquisitions, recapitalizations, and leveraged buyouts, mainly in the United States. It is a publicly traded closed-end, non-diversified specialty finance company that is regulated as a business development company, or a BDC, under the Investment Company Act of 1940.

Ares Capital Management LLC, an SEC-registered investment adviser, is the investment adviser to Ares Capital Corporation

Ares Management Limited, established in 2006 as an expansion of the Ares business platform into Europe, focused on Ares European capital markets operations. It is authorized under the Financial Conduct Authority (FCA) in the United Kingdom to provide certain investment advisory services. In May 2007, a minority interest in the firm was acquired by an international institutional investor, Abu Dhabi Investment Authority. The investor did not acquire any voting or governance rights via its investment.[5]

In May 2014, Ares Management completed its initial public offering and is currently listed on the New York Stock Exchange.[6] In April 2016, Ares Management closed its fifth global private equity fund, raising $7.85bn.[7] In May 2016, Ares Management announced to buy asset management company American Capital; the US$3.4 billion deal closed in January 2017.

On 30 January 2020, Ares Management acquired a controlling stake in Hong Kong-based alternative investment firm, SSG Capital.[8] The deal was formally completed on 2 July 2020 and SSG Capital now operates under the name Ares SSG.[9]

Operations

Business platforms

Ares' investment activities are conducted through three business platforms:

  • Ares Credit Group manages liquid and illiquid credit strategies across the non-investment grade credit universe, with approximately $60.0 billion in assets under management as of May 10, 2016.[10] Credit strategies include corporate loans, high yield bonds, institutional credit, credit opportunities, special situations, asset-backed, direct lending in the U.S. and Europe. Its U.S. corporate lending activities are primarily conducted through Ares Capital Corporation and a separate commercial finance business that provides asset-based and cash flow loans to small and middle market companies. Ares' European direct lending platform focuses on self-originated investments in illiquid middle market credits across commingled funds, separately managed accounts, and joint venture lending programs.
  • Ares Private Equity Group makes opportunistic majority or shared-control investments, principally in under-capitalized middle market companies, and manages investments in U.S. power and infrastructure assets in the power generation, transmission, and midstream sectors. It manages approximately $23.3 billion in assets under management through four corporate private equity commingled funds focused on North America and, to a lesser extent, Europe, one China growth fund and four commingled funds and six related co-investment vehicles focused on U.S. power and infrastructure assets as of May 10, 2016.[10]
  • Ares Real Estate Group manages public and private equity and debt investments in real estate assets in North America and Europe. With approximately $10.2 billion in assets under management, it manages several investment vehicles including its publicly traded REIT, Ares Commercial Real Estate Corporation, U.S. and European real estate private equity commingled funds and real estate equity and debt separately managed accounts as of May 10, 2016.[10]
  • Ares SSG was formed when Ares Management acquired an alternative investment firm, SSG Capital. This platform makes credit, private equity and special situations investments across Asia-Pacific.[11]

References

  1. ^ a b c d e f "ARES Income Statement | Ares Management Corporation Cla Stock". Finance.yahoo.com. Retrieved 2020.
  2. ^ https://www.aresmgmt.com/about-ares-management-corporation
  3. ^ Devin Banerjee, Jodi Xu Klein and Leslie Picker (March 27, 2014). "Ares Management Said to Prepare to File for IPO in Days". Bloomberg News.
  4. ^ "Our Team". Archived from the original on July 10, 2018. Retrieved 2016.
  5. ^ "Exclusive: Private equity firm Ares rejects pitches to do IPO soon". Reuters. Archived from the original on 2013-12-21.
  6. ^ "Ares Falls in Debut After First Private-Equity IPO Since '12". Bloomberg.
  7. ^ "Ares raises $7.85bn for global fund". Real Deals. April 26, 2016.
  8. ^ "Ares Management Buying in Hong Kong's SSG Capital". Mingtiandi. 2020-01-30. Retrieved .
  9. ^ "Ares Management Corporation Completes Acquisition of Majority Interest in SSG Capital Holdings Limited". www.businesswire.com. 2020-07-02. Retrieved .
  10. ^ a b c "Ares Management, Form 10-Q, as filed with the SEC on May 10, 2016".
  11. ^ "Ares Management to acquire controlling stake in SSG Capital". VC Circle. January 22, 2020.

External links


  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.

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