|Founder(s)||Antony Ressler, John Kissick and David Sachs|
|Headquarters||Los Angeles, U.S.|
|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||$40 billion |
Ares Management LLC, an SEC registered investment adviser, is a leading investment firm focused on alternative credit-based strategies, including private equity, private debt, and capital markets 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.
The Firm was established in 1997 by Antony Ressler and John H. Kissick, both partners at Apollo Global Management as well as Bennett Rosenthal, who joined the group from the global leveraged finance group at Merrill Lynch. These founders, together with Michael Arougheti, Seth Brufsky, Rick Davis, David Kaplan, Greg Margolies, Daniel Nguyen, David Sachs, and Michael Weiner, comprise the senior management team and majority ownership of Ares. The senior management team averages over 20 years of experience in the leveraged finance markets and the entire senior management team is actively involved in the Firm’s asset management activities.
In May 2007, a minority interest in the firm was acquired by an international institutional investor. The investor is experienced in alternative asset classes and did not acquire any voting or governance rights via its investment.
Ares Management Limited, a subsidiary of Ares Management LLC, 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.
Ares Capital Management LLC, a subsidiary of Ares Management LLC 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 NASDAQ: ARCC. Established in 2004, Ares Capital Corporation provides financing for middle market acquisitions, recapitalizations, and leveraged buyouts, mainly in the United States.
Ares’ investment activities are conducted through three business platforms:
- Ares Capital Markets 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 Private Debt Group, The Private Debt 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, The Private Equity Group makes opportunistic majority or shared-control investments, principally in under-capitalized middle market companies.
- As of March 31, 2011. Amounts indicated include (a) invested capital or, in the case of funds for which Ares is paid management fees based on net asset value (other than Ares Capital Corporation), gross asset value plus (b) unfunded commitments including all amounts available under debt facilities. Total committed capital figures may not foot due to rounding. As of March 31, 2011 and includes capital which may be committed for investment both directly by ARCC as well as by certain financial services portfolio companies of ARCC. ARCC is only allowed to borrow amounts such that its asset coverage (as defined in the Investment Company Act of 1940) equals at least 200% after such borrowing. Amounts also subject to borrowing base restrictions.
- Ares Management to Take New Fund Public. Los Angeles Times, April 22, 2004
- Ares Management (company website)
- Ares Capital Corp (ARCC) (company website)
- Ares Commercial Real Estate (ACRE) (company website)