Ares Management Corporation - ARES STOCK NEWS

Convene has successfully completed its recapitalization plan with HBC and Ares Management, forming the largest premium flexible meeting and workspace provider globally. With HBC as the majority owner, the combined entity will manage 26 facilities and continues to expand its portfolio in key markets across North America and Europe. Convene is positioned to enhance workday experiences through superior design and hospitality, appealing to businesses adapting to hybrid work environments.

Black Women in Asset Management (BWAM) has announced its expansion into the U.S., supported by founding sponsors Ares Management, BlackRock, and Goodwin. The funding will facilitate member events, tailored career management masterclasses, and the establishment of the BWAM Institute, aimed at empowering Black women in asset management. BWAM, established in the U.K. in 2019, has over 700 members, with significant engagement from American members. The organization is committed to addressing unique workplace barriers and fostering diversity in investment careers.

Ares Management Corporation (NYSE: ARES) has launched the Ares Private Markets Fund, a new continuously offered, non-traded closed-end fund targeting private equity investments. The Fund begins with over $250 million in capital, including a $75 million investment from Ares itself. It aims to provide individual investors access to diverse private equity fund interests through its Secondary Solutions Group, which boasts substantial experience and assets under management. The Fund will be distributed through Ares Wealth Management Solutions, catering to high net worth retail investors.

Ares Capital Corporation has announced an increase in its Revolving Credit Facility commitments to approximately $4.8 billion, extending the maturity date to March 31, 2027. The facility, led by major banks including JP Morgan and Bank of America, has updated its borrowing interest rates by replacing LIBOR with Term SOFR. CEO Kipp deVeer emphasized that this upsize enhances their capital sources, while CFO Penni Roll noted the facility supports their financial flexibility. Ares Capital is a leading provider of direct loans and investments in private middle-market companies.

Ares Capital Corporation (NASDAQ: ARCC) announced it will report its first-quarter earnings for the period ending March 31, 2022, on April 26, 2022, before the Nasdaq market opens. A conference call will follow at 10:00 AM (ET) to discuss the results. Interested participants can join via telephone or through a live webcast available on Ares Capital's website. The company is the largest publicly traded business development company and focuses on providing loans and investments to middle market companies in the U.S.

Ares Management Corporation (NYSE: ARES) will report its first quarter earnings for the period ending March 31, 2022, on April 28, 2022, before NYSE opening. A conference call will follow at 11:00 a.m. ET to discuss these results. Interested parties can participate via phone or a live webcast on their website. Ares Management, a global alternative investment manager, has approximately $314 billion in assets under management and operates in North America, Europe, Asia Pacific, and the Middle East, employing around 2,100 staff.

Kyte, a car-on-demand service, has secured a $200 million asset-backed credit financing from Goldman Sachs and Ares Global Management to enhance fleet growth and margin expansion. This funding aims to support Kyte's vision of creating the largest electrified, autonomous fleet platform. As customer expectations evolve, Kyte is facilitating a shift from traditional car ownership to on-demand access, positioning itself for global expansion amid a transformative transportation industry. This investment will enable the integration of new vehicle models and support the transition towards electric fleets.

Volery Capital, a private equity firm focused on growth investments addressing climate change and economic inclusion, has been recognized in the ImpactAssets 50 Emerging Managers list for the second consecutive year. This accolade highlights the firm's commitment to generating market-rate returns while fostering social and environmental impact.

Volery's investment strategy includes funding companies driving the energy transition and promoting financial inclusion, with notable investments in RRG Capital Management and Sustainable Development Capital, LLP.