Ares Management

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Ares Management
Type Public
Traded as NYSEARES
Industry Asset Management
Founders Antony Ressler, John Kissick, Michael Arougheti, David Kaplan, and Bennett Rosenthal
Headquarters Los Angeles
Products U.S. and European senior secured bank loans, high yield bonds, distressed debt and other fixed income investments in a variety of funds and investment vehicles, Private equity funds, Private debt, Collateralized debt obligations
Total assets $79 billion[1]
Employees 730 (2014)
Website www.aresmgmt.com
www.arescapitalcorp.com
www.arescre.com
www.arespublicfunds.com

Ares Management, L.P., an SEC registered investment adviser, is an American leading investment firm focused on alternative credit-based strategies, including private equity, direct lending, tradable credit, and real estate activities. Ares has principal offices located in Los Angeles, New York, London, Chicago, Dallas, Atlanta, Frankfurt, Paris, Stockholm, Hong Kong, Shanghai, and Washington D.C.

History[edit]

The firm was established in 1997.

Ares Capital Management LLC, a subsidiary of Ares Management, L.P. and 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 NASDAQARCC. Established in 2004, Ares Capital Corporation provides financing for middle market acquisitions, recapitalizations, and leveraged buyouts, mainly in the United States.

Ares Management Limited, a subsidiary of Ares Management, L.P., was established in 2006 as an expansion of the Ares business platform into Europe. As such, it is focused on Ares European capital markets operations. Ares Management Limited is authorized under the Financial Services Authority (FSA) 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.[2]

In May 2014, Ares Management completed its initial public offering and is currently listed on the New York Stock Exchange (NYSEARES).[3]

The firm's Board of Directors is currently composed of its co-founders, Antony Ressler, Michael Arougheti, David Kaplan, John H. Kissick, and Bennett Rosenthal, who together with Greg Margolies, Daniel Nguyen, John Bartling, Kipp deVeer, Lee Neibart, David Reilly and Michael Weiner, comprise the senior management team and majority ownership of Ares.

Operations[edit]

Ares’ investment activities are conducted through four business platforms:

  • Ares Tradable Credit Group, manages U.S. and European senior secured bank loans, high yield bonds, distressed debt, and other fixed income investments in a variety of funds and investment vehicles.
  • Ares Direct Lending Group, manages the assets of Ares Capital Corporation, Ares Capital Europe, and other funds and primarily invests in self-originated senior and mezzanine debt of middle market companies.
  • Ares Private Equity Group, makes opportunistic majority or shared-control investments, principally in under-capitalized middle market companies.
  • Ares Real Estate Group, makes equity and debt investments in real estate assets in North America and Europe, including through its publicly traded REIT, Ares Commercial Real Estate Corporation

References[edit]

  1. ^ Refers to the assets of the fund, alternative asset companies and other entities and accounts that are managed or co-managed by Ares Management. It also includes funds managed by Ivy Hill Asset Management, L.P., a wholly owned portfolio company of ARCC, and a registered investment adviser. It includes drawn and undrawn amounts, including certain amounts that are subject to regulatory leverage restrictions and/or borrowing base restrictions. Assets under management amounts are as of June 30, 2014 and are unaudited. Certain amounts are preliminary and remain subject to change, and differences may arise due to rounding.
  2. ^ "Exclusive: Private equity firm Ares rejects pitches to do IPO soon". Reuters. 
  3. ^ "Ares Falls in Debut After First Private-Equity IPO Since '12". Bloomberg. 

External links[edit]