Ares Management Corporation Stock Price, News & Analysis

Ares Management Corporation (NYSE: ARES) announced that CEO Michael Arougheti will present at the Barclays Global Financial Services Conference on September 13, 2022, at 12:00 PM ET. The live audio webcast can be accessed via the Investor Resources section of the company's website. A replay will be available shortly after the event. As of June 30, 2022, Ares Management oversees approximately $334 billion in assets across various sectors including credit, private equity, and real estate, with over 2,300 employees globally.

Ares Wealth Management Solutions (AWMS) and iCapital are expanding their partnership to offer financial advisors enhanced access to alternative investment solutions. This collaboration will leverage iCapital’s technology to create an Ares-branded platform for distribution and client management. AWMS, with approximately 110 professionals, aims to improve access to various investment offerings, including credit, private equity, and real estate. The partnership is designed to better serve high-net-worth clients and strengthen their portfolios by providing institutional-quality products.

Ares Private Markets Fund has appointed Barry Miller as Chief Executive Officer effective August 11, 2022. With 24 years in private equity and secondary investing, Miller aims to broaden individual investors' access to alternative investment solutions. Ares' global platform manages approximately $334 billion in assets as of June 30, 2022, focusing on diversified private equity fund stakes in the U.S. and Europe. The Fund is distributed through Ares Wealth Management Solutions and aims to generate risk-adjusted returns for investors.

Atlas Crane Service has announced that a fund managed by Ares Management has acquired a controlling interest in the company. Founded in 2009, Atlas specializes in crane rental services for the wind industry and boasts a customer base of over 250. Ares' investment is expected to accelerate Atlas' growth and enhance its capabilities in the renewable sector, particularly in wind energy. The management team will remain intact, focusing on geographic expansion and superior service delivery, while leveraging Ares' resources for strategic growth.

Ares Capital Corporation (NASDAQ: ARCC) has announced a public offering of 8,000,000 shares of common stock, with an option for underwriters to purchase an additional 1,200,000 shares. The offering will utilize the company's shelf registration statement filed with the SEC on June 3, 2021. Proceeds from the offering are intended to repay certain outstanding debts, with potential reborrowing for general corporate purposes. Investors should review the preliminary prospectus and accompanying prospectus for comprehensive details on investment objectives and associated risks.

Ares Management Corporation (NYSE: ARES) reported approximately $5.9 billion in U.S. direct lending commitments across 58 transactions for Q2 2022, compared to $9.0 billion in the same quarter last year. In the last twelve months, Ares closed approximately $31.8 billion in commitments across 259 transactions, down from $21.8 billion a year prior. Additionally, Ares acquired a portfolio of $2.4 billion in middle market loans during Q2 2022.

Ares Management Corporation (NYSE: ARES) reported its second-quarter financial results for the period ending June 30, 2022. The company recorded a GAAP net income of $39.7 million, with a net income per share of $0.21. After-tax realized income reached $233.3 million, translating to $0.74 per share. Fee-related earnings were $219.8 million, showcasing a 35% increase in assets under management and fee-related earnings. A quarterly dividend of $0.61 per share has also been declared, payable on September 30, 2022.

Marriott International has begun construction on the Gaylord Pacific Resort and Convention Center in Chula Vista, California. This $1.275 billion project will feature 1,600 hotel rooms, numerous dining options, a large convention center, and recreational facilities, with an expected opening in summer 2025. The construction is projected to create over 10,000 jobs temporarily and 4,000 permanent jobs. The project is anticipated to have an economic impact of more than $14 billion for California, highlighting a significant public-private partnership.