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{{short description|American asset management company}}
{{short description|American asset management company}}
{{more citations needed|date=September 2014}}
{{use MDY dates|date=September 2021}}
{{Infobox company
{{Infobox company
| name = Ares Management, L.P.
| name = Ares Management Corporation
| logo = Ares Management logo.svg
| logo = Ares Management logo.svg
| image = Hdcco-2000-Avenue-of-the-Stars 1.jpg
| image_caption = Ares Management's global headquarters
| type = [[Public company|Public]]
| type = [[Public company|Public]]
| traded_as = {{nyse|ARES}}
| traded_as = {{ubl|{{NYSE|ARES}} (Class A)|[[Russell 1000]] component}}
⚫
| founders = [[Antony Ressler]], John Kissick, Michael Arougheti, David Kaplan, and Bennett Rosenthal
| founded = {{start date and age|1997}}
| founded = {{Start date and age|1997}}
⚫
| founder = [[Antony Ressler]], John Kissick, Michael Arougheti, David Kaplan, and Bennett Rosenthal
| industry = [[Asset Management]]
| industry = [[Asset Management]]
| products = private capital management
| products =
| revenue = {{increase}} {{US$|1.765 billion|link=yes}} (2020)
| revenue = {{increase}} US$ 1.199 billion (2016)<ref name="Yahoo2016">{{cite web|url=https://finance.yahoo.com/quote/ARES/financials?p=ARES |title=ARES Income Statement &#124; Ares Management Corporation Cla Stock |publisher=Finance.yahoo.com |date= |accessdate=January 7, 2019}}</ref>
| operating_income = {{increase}} US$ 182.8 million (2016)<ref name="Yahoo2016"/>
| operating_income = {{increase}} US$302.6 million (2020)
| net_income = {{increase}} US$ 111.8 million (2016)<ref name="Yahoo2016"/>
| net_income = {{increase}} US$148.8 million (2020)
| assets = {{increase}} US$ 5.830 billion (2016)<ref name="Yahoo2016"/>
| assets = {{nowrap|{{increase}} US$12.014 billion (2020)}}
| equity = {{decrease}} US$ -8.9 million (2016)<ref name="Yahoo2016"/>
| equity = {{increase}} US$768.2 million (2020)
| aum = $378 billion (2023)<ref name="AboutAres">{{Cite web |title=About Ares Management Corporation |url=https://www.aresmgmt.com/about-ares-management-corporation |access-date=September 30, 2021 |website=Ares Management Corporation}}</ref>
| num_employees = 925 (2016)<ref name="Yahoo2016"/>
| num_employees = {{approx.|2,850}} (December 2023)
⚫
| homepage = {{URL|www.aresmgmt.com}}<br />{{URL|www.arescapitalcorp.com}}<br />{{URL|www.arescre.com}}<br />{{URL|www.arespublicfunds.com}}
| hq_location = [[Los Angeles, California]], U.S.
| location = 2000 [[Avenue of the Stars, Century City|Avenue of the Stars]]<br>[[Los Angeles]], United States
⚫
| website = {{URL|www.aresmgmt.com}}<br />{{URL|www.arescapitalcorp.com}}<br />{{URL|www.arescre.com}}<br />{{URL|www.arespublicfunds.com}}
| footnotes = <ref name="YahooFinancials">{{Cite web |title=Ares Management Corporation (Financials) |url=https://finance.yahoo.com/quote/ARES/financials?p=ARES |access-date=June 23, 2020 |website=[[Yahoo! Finance]]}}</ref>
}}
}}


'''Ares Management, L.P.''' is an American publicly traded, global alternative asset manager focused on alternative strategies, including credit, private equity, and [[real estate]] activities.
'''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<ref name=AboutAres/> and 1,500 employees<ref name="YahooProfile">{{Cite web |title=Ares Management Corporation (Profile) |url=https://finance.yahoo.com/quote/ARES/profile?p=ARES |access-date=February 9, 2022 |website=[[Yahoo! Finance]]}}</ref> operating across North America, Europe, Asia Pacific and the Middle East.


==History==
==History==
The firm was established in 1997.<ref>{{Cite news| url =https://www.bloomberg.com/news/articles/2014-03-27/ares-management-said-to-prepare-to-file-for-ipo-in-days|title=Ares Management Said to Prepare to File for IPO in Days|author=Devin Banerjee, Jodi Xu Klein and Leslie Picker|publisher=[[Bloomberg News]] |date = March 27, 2014}}</ref> The firm's co-founders include [[Antony Ressler]], Michael Arougheti, David Kaplan, John H. Kissick, and Bennett Rosenthal.<ref>{{cite web|url=http://www.aresmgmt.com/about-ares/our-team|title=Our Team|last=|first=|date=|website=|publisher=|access-date=April 7, 2016}}</ref>
The firm was established in 1997.<ref>{{Cite news |last=Devin Banerjee, Jodi Xu Klein and Leslie Picker |date=March 27, 2014 |title=Ares Management Said to Prepare to File for IPO in Days |work=[[Bloomberg News]] |url=https://www.bloomberg.com/news/articles/2014-03-27/ares-management-said-to-prepare-to-file-for-ipo-in-days}}</ref> The co-founders included [[Antony Ressler]], Michael Arougheti, David Kaplan, John H. Kissick, and Bennett Rosenthal.<ref>{{Cite web |title=Our Team |url=http://www.aresmgmt.com/about-ares/our-team |url-status=dead |archive-url=https://web.archive.org/web/20180710211853/http://www.aresmgmt.com/about-ares/our-team |archive-date=July 10, 2018 |access-date=April 7, 2016}}</ref> 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.
In 2017, former Louisiana governor [[Bobby Jindal]] was hired as an operating adviser.
*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.<ref>{{Cite news |title=Exclusive: Private equity firm Ares rejects pitches to do IPO soon |work=[[Reuters]] |url=http://uk.reuters.com/article/2013/12/18/us-aresmanagement-ipo-idUKBRE9BH05G20131218 |url-status=dead |archive-url=https://web.archive.org/web/20131221034102/http://uk.reuters.com/article/2013/12/18/us-aresmanagement-ipo-idUKBRE9BH05G20131218 |archive-date=December 21, 2013}}</ref>
It has several subsidiaries:


In May 2014, Ares Management completed its initial public offering and is currently listed on the [[New York Stock Exchange]].<ref>{{Cite news |title=Ares Falls in Debut After First Private-Equity IPO Since '12 |work=Bloomberg |url=https://www.bloomberg.com/news/2014-05-02/ares-falls-in-debut-after-first-private-equity-ipo-since-carlyle.html}}</ref> In April 2016, Ares Management closed its fifth global private equity fund, raising $7.85bn.<ref>{{Cite news |date=April 26, 2016 |title=Ares raises $7.85bn for global fund |work=Real Deals |url=http://realdeals.eu.com/article/50712}}</ref> In May 2016, Ares Management announced a plan to buy asset management company [[American Capital]]; the US$3.4 billion deal closed in January 2017.
⚫
Ares Capital Management LLC, an SEC-registered investment adviser, is the investment adviser to Ares Capital Corporation, 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.


On January 30, 2020, Ares Management acquired a controlling stake in the [[Hong Kong]]–based alternative investment firm, SSG Capital Management.<ref>{{Cite web |date=January 30, 2020 |title=Ares Management Buying in Hong Kong's SSG Capital |url=https://www.mingtiandi.com/real-estate/finance-real-estate/ares-management-buying-in-hong-kongs-ssg-capital/ |access-date=January 15, 2021 |website=Mingtiandi |language=en-US}}</ref> The deal was formally completed on July 2, 2020, and SSG Capital Management now operates under the name Ares SSG.<ref>{{Cite web |date=July 2, 2020 |title=Ares Management Corporation Completes Acquisition of Majority Interest in SSG Capital Holdings Limited |url=https://www.businesswire.com/news/home/20200702005116/en/Ares-Management-Corporation-Completes-Acquisition-of-Majority-Interest-in-SSG-Capital-Holdings-Limited |access-date=January 15, 2021 |website=[[Business Wire]] |language=en}}</ref>
Ares Capital Corporation established in 2004, provides financing for middle market acquisitions, [[recapitalizations]], and [[leveraged buyouts]], mainly in the United States.


On July 1, 2021, Ares Management announced completion of its acquisition of Black Creek Group's U.S. real estate investment advisory and distribution business.<ref>{{Cite news |date=July 1, 2021 |title=Ares Management Corporation Completes Acquisition of Black Creek Group |url=https://www.ares-ir.com/news-events-presentations/press-releases/news-details/2021/Ares-Management-Corporation-Completes-Acquisition-of-Black-Creek-Group/default.aspx}}</ref>
⚫
Ares Management Limited, established in 2006 as an expansion of the Ares business platform into Europe, focused on Ares European capital markets operations. Ares Management Limited 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 is experienced in alternative asset classes and did not acquire any voting or governance rights via its investment.<ref>{{cite news| url= http://uk.reuters.com/article/2013/12/18/us-aresmanagement-ipo-idUKBRE9BH05G20131218| work=Reuters | title=Exclusive: Private equity firm Ares rejects pitches to do IPO soon}}</ref>


⚫
==Operations==
In May 2014, Ares Management completed its initial public offering and is currently listed on the [[New York Stock Exchange]].<ref>{{cite news| url=https://www.bloomberg.com/news/2014-05-02/ares-falls-in-debut-after-first-private-equity-ipo-since-carlyle.html | work=Bloomberg | title=Ares Falls in Debut After First Private-Equity IPO Since '12}}</ref>


The firm is among the largest players in the private debt market.<ref>{{Cite news |date=December 1, 2020 |title=PDI 50: The Top 10 |work=Private Debt Investor |url=https://www.privatedebtinvestor.com/pdi-50-the-top-10/}}</ref>
In April 2016, Ares Management closed its fifth global private equity fund, raising $7.85bn (€6.95bn).<ref>{{cite news|title=Ares raises $7.85bn for global fund|url=http://realdeals.eu.com/article/50712|publisher=Real Deals|date=April 26, 2016}}</ref>


⚫
Ares' investment activities are conducted through four business units:
In May 2016, Ares Management announced to buy asset management company [[American Capital, Ltd.]]; the US$3.4 billion deal was closed in January 2017.
⚫
* Ares Credit Group manages liquid and illiquid credit in the non-investment grade credit sector, with approximately $60.0 billion in assets under management as of May 10, 2016.<ref name=":0">{{Cite web |title=Ares Management, Form 10-Q, as filed with the SEC on May 10, 2016 |url=https://www.sec.gov/Archives/edgar/data/1176948/000155837016005746/ares-20160331x10q.htm}}</ref> Credit categories include corporate loans, high yield bonds, institutional credit, credit opportunities, special situations, asset-backed, and direct lending in the U.S. and Europe. Its U.S. corporate lending is 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. As of 2016, 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.<ref name=":0" />
⚫
==Operations==
⚫
* 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.<ref name=":0" />
===Business platforms===
*Ares SSG was formed when Ares Management acquired an alternative investment firm, SSG Capital Management. It makes credit, private equity and special situations investments across the Asia-Pacific region.<ref>{{Cite web |date=January 22, 2020 |title=Ares Management to acquire controlling stake in SSG Capital |url=https://www.vccircle.com/ares-management-to-acquire-controlling-stake-in-ssg-capital/ |website=VC Circle}}</ref>
⚫
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.<ref name=":0">{{cite web|url=https://www.sec.gov/Archives/edgar/data/1176948/000155837016005746/ares-20160331x10q.htm|title=Ares Management, Form 10-Q, as filed with the SEC on May 10, 2016|last=|first=|date=|website=|publisher=|access-date=}}</ref> Credit strategies include corporate loans, high yield bonds, institutional credit, credit opportunities, special situations, asset-backed, direct lending in the U.S. and Europe. Ares’ 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.<ref name=":0" />
⚫
* 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, the Group 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.<ref name=":0" />


==References==
==References==
{{reflist|35em}}
{{reflist}}


==External links==
==External links==
*[http://www.aresmgmt.com Ares Management] (company website)
*{{Official|https://www.aresmgmt.com}}
{{Finance links
{{Finance links
| name = Ares Management
| name = Ares Management Corporation
| symbol = ARES
| symbol = ARES
| reuters = ARES.N
| reuters = ARES.N
| bloomberg = ARES:US
| bloomberg = ARES:US
| sec_cik = ARES
| sec_cik = 1176948
| yahoo = ARES
| yahoo = ARES
| google = ARES
| google = ARES:NYSE
}}
}}

{{private equity firms}}


{{authority control}}
{{authority control}}
{{Private equity and venture capital}}


[[Category:1997 establishments in California]]
[[Category:American companies established in 1997]]
[[Category:Private equity firms of the United States]]
[[Category:Private equity firms of the United States]]
[[Category:Companies based in Los Angeles]]
[[Category:Companies based in Los Angeles]]
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[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:2014 initial public offerings]]
[[Category:2014 initial public offerings]]
[[Category:Asset management]]

Latest revision as of 13:19, 24 September 2024

Ares Management Corporation
Company typePublic
IndustryAsset Management
Founded1997; 27 years ago (1997)
FoundersAntony Ressler, John Kissick, Michael Arougheti, David Kaplan, and Bennett Rosenthal
HeadquartersLos Angeles, California, U.S.
RevenueIncrease US$1.765 billion (2020)
Increase US$302.6 million (2020)
Increase US$148.8 million (2020)
AUM$378 billion (2023)[1]
Total assetsIncrease US$12.014 billion (2020)
Total equityIncrease US$768.2 million (2020)
Number of employees
approx. 2,850 (December 2023)
Websitewww.aresmgmt.com
www.arescapitalcorp.com
www.arescre.com
www.arespublicfunds.com
Footnotes / references
[2]

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[1] and 1,500 employees[3] operating across North America, Europe, Asia Pacific and the Middle East.

History

[edit]

The firm was established in 1997.[4] The co-founders included Antony Ressler, Michael Arougheti, David Kaplan, John H. Kissick, and Bennett Rosenthal.[5] 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.[6]

In May 2014, Ares Management completed its initial public offering and is currently listed on the New York Stock Exchange.[7] In April 2016, Ares Management closed its fifth global private equity fund, raising $7.85bn.[8] In May 2016, Ares Management announced a plan to buy asset management company American Capital; the US$3.4 billion deal closed in January 2017.

On January 30, 2020, Ares Management acquired a controlling stake in the Hong Kong–based alternative investment firm, SSG Capital Management.[9] The deal was formally completed on July 2, 2020, and SSG Capital Management now operates under the name Ares SSG.[10]

On July 1, 2021, Ares Management announced completion of its acquisition of Black Creek Group's U.S. real estate investment advisory and distribution business.[11]

Operations

[edit]

The firm is among the largest players in the private debt market.[12]

Ares' investment activities are conducted through four business units:

  • Ares Credit Group manages liquid and illiquid credit in the non-investment grade credit sector, with approximately $60.0 billion in assets under management as of May 10, 2016.[13] Credit categories include corporate loans, high yield bonds, institutional credit, credit opportunities, special situations, asset-backed, and direct lending in the U.S. and Europe. Its U.S. corporate lending is 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. As of 2016, 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.[13]
  • 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.[13]
  • Ares SSG was formed when Ares Management acquired an alternative investment firm, SSG Capital Management. It makes credit, private equity and special situations investments across the Asia-Pacific region.[14]

References

[edit]
  1. ^ a b "About Ares Management Corporation". Ares Management Corporation. Retrieved September 30, 2021.
  2. ^ "Ares Management Corporation (Financials)". Yahoo! Finance. Retrieved June 23, 2020.
  3. ^ "Ares Management Corporation (Profile)". Yahoo! Finance. Retrieved February 9, 2022.
  4. ^ Devin Banerjee, Jodi Xu Klein and Leslie Picker (March 27, 2014). "Ares Management Said to Prepare to File for IPO in Days". Bloomberg News.
  5. ^ "Our Team". Archived from the original on July 10, 2018. Retrieved April 7, 2016.
  6. ^ "Exclusive: Private equity firm Ares rejects pitches to do IPO soon". Reuters. Archived from the original on December 21, 2013.
  7. ^ "Ares Falls in Debut After First Private-Equity IPO Since '12". Bloomberg.
  8. ^ "Ares raises $7.85bn for global fund". Real Deals. April 26, 2016.
  9. ^ "Ares Management Buying in Hong Kong's SSG Capital". Mingtiandi. January 30, 2020. Retrieved January 15, 2021.
  10. ^ "Ares Management Corporation Completes Acquisition of Majority Interest in SSG Capital Holdings Limited". Business Wire. July 2, 2020. Retrieved January 15, 2021.
  11. ^ "Ares Management Corporation Completes Acquisition of Black Creek Group". July 1, 2021.
  12. ^ "PDI 50: The Top 10". Private Debt Investor. December 1, 2020.
  13. ^ a b c "Ares Management, Form 10-Q, as filed with the SEC on May 10, 2016".
  14. ^ "Ares Management to acquire controlling stake in SSG Capital". VC Circle. January 22, 2020.
[edit]
  • Official website
  • Business data for Ares Management Corporation:


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