Ares Management Explained

Ares Management Corporation
Type:Public
Founders:Antony Ressler, John Kissick, Michael Arougheti, David Kaplan, and Bennett Rosenthal
Industry:Asset Management
Revenue: (2020)
Operating Income: US$302.6 million (2020)
Net Income: US$148.8 million (2020)
Equity: US$768.2 million (2020)
Aum:$378 billion (2023)[1]
Num Employees: (December 2023)
Hq Location:Los Angeles, California, U.S.
Website:


Footnotes:[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

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:

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

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

Ares' investment activities are conducted through four business units:

Notes and References

  1. Web site: About Ares Management Corporation . September 30, 2021 . Ares Management Corporation.
  2. Web site: Ares Management Corporation (Financials) . June 23, 2020 . Yahoo! Finance.
  3. Web site: Ares Management Corporation (Profile) . February 9, 2022 . Yahoo! Finance.
  4. News: Devin Banerjee, Jodi Xu Klein and Leslie Picker . March 27, 2014 . Ares Management Said to Prepare to File for IPO in Days . .
  5. Web site: Our Team . dead . https://web.archive.org/web/20180710211853/http://www.aresmgmt.com/about-ares/our-team . July 10, 2018 . April 7, 2016.
  6. News: Exclusive: Private equity firm Ares rejects pitches to do IPO soon . . dead . https://web.archive.org/web/20131221034102/http://uk.reuters.com/article/2013/12/18/us-aresmanagement-ipo-idUKBRE9BH05G20131218 . December 21, 2013.
  7. News: Ares Falls in Debut After First Private-Equity IPO Since '12 . Bloomberg .
  8. News: April 26, 2016 . Ares raises $7.85bn for global fund . Real Deals .
  9. Web site: January 30, 2020 . Ares Management Buying in Hong Kong's SSG Capital . January 15, 2021 . Mingtiandi . en-US.
  10. Web site: July 2, 2020 . Ares Management Corporation Completes Acquisition of Majority Interest in SSG Capital Holdings Limited . January 15, 2021 . . en.
  11. News: July 1, 2021 . Ares Management Corporation Completes Acquisition of Black Creek Group .
  12. News: December 1, 2020 . PDI 50: The Top 10 . Private Debt Investor .
  13. Web site: Ares Management, Form 10-Q, as filed with the SEC on May 10, 2016 .
  14. Web site: January 22, 2020 . Ares Management to acquire controlling stake in SSG Capital . VC Circle.