Ares Management Corporation Stock Price, News & Analysis

Ares Management Corporation has announced its agreement to acquire a Middle Market Lending portfolio from Annaly Capital Management for approximately $2.4 billion. This acquisition aims to enhance Ares' position in direct lending by adding a diversified borrower base of upper middle-market companies. Ares’ Credit Group expects significant advantages in deal sourcing and investor returns due to overlapping investments and existing sponsor relationships. The transaction is anticipated to close by the end of Q2 2022, subject to customary conditions.

Touchstone Investments has rebranded its Touchstone Credit Opportunities Fund to the Touchstone Ares Credit Opportunities Fund, reflecting a long-standing partnership with Ares Management Corporation (NYSE: ARES). The Fund aims to provide current income and capital appreciation by investing across various credit asset classes while actively managing portfolio risks. Notably, the Fund will now declare dividends on a monthly basis, starting April 2022. The investment strategies remain unchanged, maintaining a focus on global debt instruments and relative value opportunities.

johnnie-O has successfully closed a $108 million investment from Wasatch Global Investors and Ares Management Corporation. This funding aims to support johnnie-O’s growth and enhance its brand, which has seen over 80% sales and EBITDA growth in 2021. The investment reflects confidence in johnnie-O’s premium lifestyle offerings and its expansion plans across various retail channels. Wasatch and Ares now hold a minority stake in the company, marking a significant step in broadening its investor base.

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.