Welcome to our dedicated page for Ares Management news (Ticker: ARES), a resource for investors and traders seeking the latest updates and insights on Ares Management stock.
Ares Management Corporation reports developments across its global alternative investment management platform, including credit, real estate, private equity and infrastructure strategies. Company news commonly covers quarterly results, fee and performance income, fundraising, fund closings, direct lending origination activity and dividend declarations on its common stock.
Updates also track Ares Credit funds, Ares Commercial Finance, value-add real estate vehicles, Asia credit and special situations strategies, and sub-advised credit products. Recurring themes include capital deployment, senior secured financing commitments, fundraising across asset classes, global platform expansion and operating leadership changes.
Ares Management Corporation (NYSE: ARES) appointed Mark Serocold as Partner and Head of EMEA for Ares Wealth Management Solutions (AWMS) in London. Serocold, with nearly 20 years of private wealth distribution experience, previously worked at Blackstone. His role will focus on product development and strategic partnerships in EMEA, supported by additional hires in sales and client services. The wealth management sector is expected to see significant asset growth, increasing from $38 trillion in 2021 to $54 trillion by 2024, presenting opportunities for Ares.
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Ares Management Corporation (NYSE: ARES) reported approximately $5.7 billion in new direct lending commitments closed in Q3 2022 across 45 transactions, amounting to $32 billion in the last twelve months. This represents a decrease from $7.2 billion in Q3 2021. The company facilitated several notable transactions, including funding for Discovery Life Sciences, Evolent Health, and Tempus. As of September 30, 2022, Ares managed approximately $341 billion in assets globally across multiple investment sectors.
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Ares Capital Corporation (NASDAQ: ARCC) has appointed Kort Schnabel as Co-President, while Michael Smith transitions to the Board of Directors. Schnabel, a longstanding member of Ares since 2001, was pivotal in the firm's U.S. direct lending strategy. CEO Kipp deVeer emphasizes Schnabel's critical role in the company’s growth. The Board welcomes Smith, highlighting his contributions since Ares’ 2004 IPO, during which the company has achieved nearly double the stock-based returns of the S&P 500. Ares Capital focuses on private middle-market investments to generate attractive returns.
Ares Capital Corporation (NASDAQ: ARCC) declared a fourth quarter dividend of $0.48 per share, payable on December 29, 2022, with record date on December 15, 2022. The company reported a Q3 2022 core EPS of $0.50, up from $0.47 in Q3 2021, while GAAP net income per share decreased to $0.21 from $0.73. Total net investment income was $288 million, compared to $184 million year-over-year. Ares capital made new investment commitments of $2.2 billion in Q3 2022, indicating strong activity despite market conditions.
Ares Management Corporation announced the successful closing of its Ares Special Opportunities Fund II with commitments exceeding $7.1 billion, surpassing the target of $4.0 billion. This fundraising reflects strong global investor interest and confidence in Ares’ strategy, which aims to provide tailored financing solutions for companies undergoing transformational change. The Special Opportunities strategy has deployed nearly $12 billion across various investments, demonstrating Ares’ robust market positioning and operational scale.
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Ares Management Corporation (NYSE: ARES) announced the final closing of its Ares U.S. Real Estate Fund X, L.P. on September 30, 2022. The fund surpassed its $1.5 billion target, reaching $1.8 billion in commitments, making it 75% larger than its predecessor fund. Ares highlights strong investor support and plans to leverage its experience to capitalize on new investment opportunities in durable sectors. The fund aims for a diverse portfolio focused on generating current income and enhancing property values through disciplined investment strategies.
Ares Capital Corporation (NASDAQ: ARCC) will report its third quarter earnings for the period ending September 30, 2022 on October 25, 2022, before the market opens. A conference call is scheduled for 10:00 a.m. (ET) on the same day to discuss the results. Investors can access the call via telephone or through a live webcast on Ares Capital's website. The company, which focuses on private middle-market lending, is the largest publicly traded BDC by market capitalization.