Ares Management Corporation - ARES STOCK NEWS

Ares Capital Corporation (NASDAQ: ARCC) has declared a first quarter 2023 dividend of $0.48 per share, payable on March 31, 2023. For the fourth quarter of 2022, Ares reported a core EPS of $0.63 and GAAP net income per share of $0.34, down from $0.83 in Q4-21. The company's total assets grew to $22.4 billion, with a portfolio at fair value of $21.8 billion. Ares Capital made new investment commitments of $2.5 billion in Q4-22, focusing 61% on first lien senior secured loans. The firm ended the year with $303 million in cash and a debt/equity ratio of 1.29, indicating stable financial health.

Ares Capital Corporation (NASDAQ:ARCC) has announced the tax treatment of its 2022 common stock distributions. The record date for the distributions was March 15, 2022, with a payable date of March 31, 2022. A total of $1.8700 was paid per share, with ordinary income of $1.73809 and interest-related dividends at $0.05824. On June 15, September 15, and December 15, 2022, further distributions were announced, with totals of $0.4500, $0.4600, and $0.5100 per share, respectively. Notably, 100% of the dividends paid per share qualify as ordinary income, with no capital gain dividends. Investors are advised to consult tax professionals regarding specifics.

CION Investments and Ares Management Corporation have announced the CION Ares Diversified Credit Fund (CADC) has achieved a significant six-year milestone since its inception on January 26, 2017. As of December 31, 2022, CADC managed approximately $3.6 billion in assets, boasting a notable annualized distribution rate increase of over 26%, from $1.39 to $1.76 per share in 2022. CION Co-CEO Michael Reisner emphasized their commitment to providing individual investors with access to institutional-quality credit alternatives. The Fund employs a dynamic asset allocation approach to maximize risk-adjusted returns across market cycles.

Ares Capital Corporation (NASDAQ: ARCC) appointed Jana Markowicz as its Chief Operating Officer (COO). This position is newly created, and she will also serve as COO for Ares Management's U.S. Direct Lending strategy. Markowicz has been with Ares since 2005 and has played a significant role in the growth of its Direct Lending strategy. Kipp deVeer, CEO of Ares Capital, expressed confidence that her leadership will enhance their market position and long-term value for shareholders. Ares Capital is a leading specialty finance company focused on private middle market companies in the U.S.

Ares Management has signed a 12-year lease for 206,000 square feet at 1800 Avenue of the Stars in Century City, Los Angeles. This agreement positions Ares as an anchor tenant at the Anderson Towers, which is undergoing a $100 million renovation. The new workspace, expected to be completed by June 2024, will feature advanced amenities, including panoramic views and outdoor spaces. The project aims to create a modern, tech-integrated office environment designed to meet evolving tenant needs, enhancing Ares's operational base in a prime location.

Ares Capital Corporation (Nasdaq: ARCC) announced a public offering of 9,000,000 shares of its common stock, with an option for underwriters to purchase an additional 1,350,000 shares. The offering utilizes Ares Capital’s existing shelf registration statement filed with the SEC. Major underwriters include Morgan Stanley, BofA Securities, and UBS Investment Bank. The net proceeds are expected to reduce outstanding debt and potentially support general corporate activities. Investors should review the preliminary prospectus for details on risks and investment objectives.

Ares Management Corporation (NYSE: ARES) announced the final closing of its Infrastructure Debt Fund V (IDF V) on December 29, 2022, achieving approximately $5.0 billion in commitments. The fund focuses on subordinated investments across sectors such as digital, utilities, renewables, energy, and transportation. Ares aims to provide customized credit solutions while engaging in responsible investment with sustainability-linked debt facilities. With a global team and a strong track record of $10.4 billion committed since 2011, IDF V has invested about $2.0 billion, or 40% of its capital base, to date.

CION Ares Management has announced an increase in distribution rates for the CION Ares Diversified Credit Fund (CADC), effective January 1, 2023. The Class I shares will now offer an annualized distribution rate of 7.29%, representing a 10% increase. Over the past year, the distribution for Class I shares has risen from $1.39 to $1.76 per share, reflecting a growth of more than 26%. CION attributes this performance to its dynamic allocation process and defensive positioning.