Ares Management Launches Ansley Park Capital

Rhea-AI Summary

Ares Management Corporation forms Ansley Park Capital to provide customized financing for large-ticket equipment, acquiring BciCapital's management team. Ansley Park offers flexible capital solutions from $5 million to over $100 million in various industries. Ares Alternative Credit commits $400 million for originations expected to exceed $3 billion. Led by seasoned executives with extensive industry experience, Ansley Park aims to support U.S. economy financing needs.

Ares and Seasoned Industry Executives Form New Company to Deliver Customized Financing and Capital Solutions for Large-Ticket Equipment

NEW YORK--(BUSINESS WIRE)-- Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced today that funds managed by its Alternative Credit strategy (“Ares Alternative Credit”) have launched Ansley Park Capital (“Ansley Park”), a newly-formed lending and specialty finance company that delivers full spectrum, customized financing solutions for essential-use, large-ticket equipment. Ansley Park’s management team and integrated operating platform were acquired from BciCapital, Inc. (“BciCapital”), a top 50 Monitor 100 company and the equipment finance business of regional bank City National Bank of Florida. Ansley Park will offer scaled, flexible equipment-based capital solutions ranging from $5 million to over $100 million to a diversified array of industries, including manufacturing, rail, construction, marine, infrastructure, energy, healthcare and corporate air travel. Ares Alternative Credit funds have committed approximately $400 million in initial equity capital to support originations, which the team expects to be in excess of $3 billion.

Ansley Park is led by seasoned industry executives, including Eric Miller, Mark Trollinger and Robert Seltzer. Members of the executive team have worked together for over 20 years and bring combined experience of over 150 years in commercial, risk, finance and operational executive roles.

Mr. Miller will serve as Ansley Park’s President & Chief Executive Officer. He most recently served as Chief Executive Officer at BciCapital, where he led the company’s equipment finance business. Prior to that, Mr. Miller served as President of CIT Asset Finance, where he led CIT’s large-ticket asset backed finance businesses, and as a Managing Director at GE Capital.

Mr. Trollinger will serve as Ansley Park’s Chief Investment Officer & Head of Capital Markets. He has over 40 years of experience in banking and equipment finance and has held various senior positions with direct involvement in all aspects of operations, underwriting, portfolio and asset management, structuring and marketing. Mr. Trollinger most recently served as Chief Investment Officer & Head of Capital Markets at BciCapital. Prior to that, Mr. Trollinger was co-head of Wachovia’s (now Wells Fargo) equipment finance platform.

Mr. Seltzer will serve as Ansley Park’s Executive Vice President, Head of Direct Originations. He most recently served as the Chief Commercial Officer for BciCapital and was responsible for leading equipment finance origination efforts. Prior to that, he held leadership positions at CIT Capital Equipment Finance and GE Capital.

“We are excited to launch Ansley Park together with this talented and experienced team,” said Joel Holsinger, Partner and Co-Head of Ares Alternative Credit. “The equipment finance landscape is rapidly evolving, and the team’s deep industry expertise across a wide range of asset classes will enable Ansley Park to effectively deploy capital critical to supporting the financing needs of companies driving the U.S. economy.”

He added, “In addition to direct financing originations, Ansley Park is uniquely positioned to partner with banks in executing capital markets transactions, acquire equipment finance portfolios, develop structured flow programs and design equipment-focused balance sheet optimization and capital relief solutions.”

“We are thrilled to announce the establishment of Ansley Park through our partnership with Ares,” said Eric Miller, President & Chief Executive Officer of Ansley Park. “We could not have chosen a better partner than Ares to launch, build and grow a leading independent equipment finance company.”

The Ares Alternative Credit strategy is one of the largest investors in asset based credit managing approximately $33.9 billion in assets under management as of December 31, 2023. The team invests across the capital structure and seeks opportunities in specialty finance, lender finance, loan portfolios, equipment leasing, structured products, net lease, cash flow streams (royalties, licensing, management fees) and other asset-focused investments. Aligning Ares' investment activities with its societal impact, Ares and Ares Alternative Credit portfolio managers have committed to donate a portion of the performance fees from Ares Alternative Credit flagship funds to support global health and education charities.

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2023, Ares Management Corporation's global platform had approximately $419 billion of assets under management, with approximately 2,850 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

About Ansley Park Capital

Ansley Park Capital is a lending and specialty finance platform focused on delivering flexible and customized financing solutions for essential-use, large-ticket equipment and machinery across a multitude of asset types and industries. At Ansley Park Capital, we tap into the responsiveness, flexibility, and creativity of a highly experienced team with unmatched access across the equipment financing industry to serve a broad community of borrowers to meet their individual needs with full product capabilities. Our approach to working with our clients is simple: we strive to understand our customers, take the time to underwrite their business, and provide tailored financing solutions for the unique circumstances they need to grow their businesses today and well into the future. For more information, please visit www.ansleyparkcapital.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240301509187/en/

Media:

Priscila Roney, +1-212-808-1185

media@aresmgmt.com

Source: Ares Management Corporation

FAQ

What is the name of the newly-formed lending and specialty finance company by Ares Management Corporation?

The newly-formed lending and specialty finance company by Ares Management Corporation is called Ansley Park Capital.

What is the ticker symbol for Ares Management Corporation?

The ticker symbol for Ares Management Corporation is ARES.

How much equity capital has Ares Alternative Credit committed to support originations for Ansley Park?

Ares Alternative Credit has committed approximately $400 million in initial equity capital to support originations for Ansley Park.

Who will serve as the President & Chief Executive Officer of Ansley Park?

Eric Miller will serve as the President & Chief Executive Officer of Ansley Park.

What is the total amount of assets under management for Ares Alternative Credit as of December 31, 2023?

Ares Alternative Credit manages approximately $33.9 billion in assets under management as of December 31, 2023.