Ares Management Corporation Stock Price, News & Analysis

Ares Acquisition Corporation II announced the successful closure of its initial public offering (IPO), raising $500 million by selling 45 million units at $10.00 per share, along with an additional 5 million units due to an over-allotment option. The units began trading on the New York Stock Exchange under the ticker symbol AACT.U on April 21, 2023. The company is sponsored by a subsidiary of Ares Management Corporation, which manages approximately $352 billion in assets. CEO David B. Kaplan leads a team that aims to execute mergers or similar business combinations leveraging Ares's resources for value creation.

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Ares Capital Corporation (NASDAQ: ARCC) announced a second quarter 2023 dividend of $0.48 per share, payable on June 30, 2023. The company reported strong Q1 2023 financial results, with core EPS of $0.57, up over 35% year-over-year. GAAP net income per share was $0.52 compared to $0.44 in Q1 2022. As of March 31, 2023, total assets were $21.8 billion with a net debt to equity ratio of 1.12x. Ares Capital made new investment commitments of $766 million while exiting $1.9 billion of commitments, primarily in floating rate securities. The firm emphasized its strong balance sheet and liquidity, with $359 million in cash and $4.4 billion available for additional borrowings. A stock repurchase program has been authorized to buy back up to $1 billion of its common stock.

Ares Management Corporation (NYSE: ARES) has launched the Ares Strategic Income Fund (ASIF), a non-traded business development company, aimed at retail investors. The Fund, boasting an initial capital of approximately $1.5 billion, primarily targets senior secured, floating-rate loans to U.S. middle-market companies. Backed by over $847 million in equity commitments and $625 million in credit facility commitments, ASIF leverages Ares Credit Group's extensive platform, which manages over $214 billion in assets. Distributed through Ares Wealth Management Solutions, ASIF seeks to provide investors with attractive current income and downside protection throughout market cycles. The Fund's prospectus outlines investment risks and suitability standards for potential investors.

US Heart & Vascular (USHV) has announced a partnership with HeartPlace, the largest physician-owned cardiology practice in Texas. This marks USHV's sixth partnership in Texas and its first in the Dallas-Fort Worth area. The collaboration aims to enhance patient care and reduce healthcare costs, aligning with USHV's vision of supporting independent cardiovascular practices. HeartPlace, founded in 1967 and currently comprising 70 clinicians, seeks to expand its reach beyond North Texas and improve cardiovascular health outcomes. The financial terms of this transaction, which closed on March 31, 2023, were not disclosed. USHV continues to pursue new partnerships across the U.S., further strengthening its network of independent cardiology practices.

CION Ares Management LLC announced an increase in the distribution rate for its CION Ares Diversified Credit Fund (CADC) effective April 1, 2023. The Class I share class distribution rate rose to 8.30% on NAV, reflecting a 45% increase since January 2022. The Fund focuses on floating rate credit investments, benefiting from higher rates. CION co-CEO Mark Gatto emphasized the Fund's flexible management approach aimed at providing value in all market conditions and meeting income needs for investors. CADC invests in both liquid and illiquid credit investments, leveraging Ares' extensive resources.

Ares Capital Corporation (NASDAQ: ARCC) will report its first quarter earnings for the period ending March 31, 2023, on April 25, 2023, before the Nasdaq market opens. A conference call will occur at 11:00 a.m. ET to discuss the financial results. Interested participants can join via telephone or a live webcast available on Ares Capital's Investor Resources section. The company, founded in 2004, focuses on direct loans and investments in private middle market companies in the U.S. It is the largest publicly traded business development company (BDC) by market capitalization as of March 31, 2023.