Ares Management
 | |
| Public | |
| Traded as | NYSE: ARES |
| Industry | Asset Management |
| Founder | Antony Ressler, John Kissick, Michael Arougheti, David Kaplan, and Bennett Rosenthal |
| Headquarters |
2000 Avenue of the Stars Los Angeles |
| Products | Credit (Liquid and illiquid strategies- corporate loans, high yield bonds, institutional credit, credit opportunities, special situations, asset-backed, direct lending in the U.S. and Europe), Private Equity (North American and European flexible capital, U.S. power and infrastructure assets, China growth capital), and Real Estate (debt and equity- U.S. and European value-add and opportunistic) |
| Total assets | $94 billion[1] |
Number of employees | 870 (2015) |
| Website |
www www www www |
Ares Management, L.P. is a publicly traded, global alternative asset manager focused on alternative strategies, including credit, private equity, and real estate activities.
History
The firm was established in 1997.[2] The firm's co-founders include Antony Ressler, Michael Arougheti, David Kaplan, John H. Kissick, and Bennett Rosenthal.[3]
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. 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 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.[4]
In May 2014, Ares Management completed its initial public offering and is currently listed on the New York Stock Exchange.[5]
In April 2016, Ares Management closed its fifth global private equity fund, raising $7.85bn (€6.95bn).[6]
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.[7] 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 across the power generation, transmission, and midstream sectors. The Private Equity Group 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.[7]
- 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 Real Estate 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.[7]
References
- ↑ "About Ares". AresCapitalCorp.com. Retrieved December 4, 2015.
- ↑ Devin Banerjee, Jodi Xu Klein and Leslie Picker (March 27, 2014). "Ares Management Said to Prepare to File for IPO in Days". Bloomberg News.
- ↑ "Our Team". Retrieved April 7, 2016.
- ↑ "Exclusive: Private equity firm Ares rejects pitches to do IPO soon". Reuters.
- ↑ "Ares Falls in Debut After First Private-Equity IPO Since '12". Bloomberg.
- ↑ "Ares raises $7.85bn for global fund". Real Deals. 26 April 2016.
- 1 2 3 "Ares Management, Form 10-Q, as filed with the SEC on May 10, 2016".
External links
- Ares Management (company website)
- Ares Capital Corp (ARCC) (company website)
- Ares Commercial Real Estate (ACRE) (company website)
- www.adviserinfo.sec.gov
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