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 Capital Corporation (NASDAQ: ARCC) will report its earnings for the fourth quarter and fiscal year ending December 31, 2022, on February 7, 2023, before the market opens. A webcast and conference call will take place at 12:00 p.m. (Eastern Time) the same day to discuss the financial results. Ares Capital focuses on providing financing to private middle market companies, aiming for attractive current income and capital appreciation for investors. Ares Capital is the largest publicly traded business development company by market capitalization as of December 31, 2022.
Eagle Football Holdings has acquired a controlling stake in Olympique Lyonnais Groupe SA, creating a major player in global football alongside clubs like Crystal Palace and Botafogo. This transaction, announced on December 20, 2022, involves a simplified cash tender offer for unowned shares at €3 each. The investment consortium includes Ares Management, Iconic Sports, and Elmwood Partners, all bringing significant experience in sports management. Chairman Jean-Michel Aulas remains in charge, fostering synergies aimed at enhancing fan engagement and competitive success.
Avant, a financial technology company, has secured $250 million in corporate debt and redeemable preferred equity from Ares Management. This follows a $250 million securitization completed in September, bringing Avant's total asset-backed financing commitments for 2022 to $1.1 billion. The funding will enhance Avant's credit portfolio and support its growth initiatives. The company has successfully provided over $9 billion in credit to nearly 3 million customers since 2012.
Ares Acquisition Corporation (NYSE: AAC) has announced a definitive business combination agreement with X-energy, a leader in small modular nuclear reactor development. This partnership aims to establish X-energy as a publicly traded entity, enhancing its capabilities in providing clean, affordable energy through advanced nuclear technologies. With an estimated pre-money equity value of $2 billion, the transaction is bolstered by $1.2 billion in funding from the U.S. Department of Energy. This merger positions X-energy to capitalize on a serviceable addressable market projected to reach $500 billion by 2040.
Ares Management Corporation (NYSE: ARES) announced that its CFO, Jarrod Phillips, will present at the Goldman Sachs US Financial Services Conference on December 6, 2022, at 11:20 AM ET. A live audio webcast of the presentation can be accessed in the Investor Resources section of Ares's website. The company, a leading alternative investment manager with $341 billion in assets under management as of September 30, 2022, operates globally across various asset classes including credit, private equity, and real estate.
UNAVETS Group has secured €116 million from Ares Management Credit funds, aimed at refinancing existing debt and financing future acquisitions and capital expenditures in the veterinary sector. The group, which operates over 90 practices in Spain and Portugal, is majority-owned by Oaktree Capital Management. CEO Junko Sheehan highlighted that this funding will enhance their growth strategy, enabling investments in facilities and staffing. With over 900 professionals, UNAVETS is poised for continued expansion amid a consolidating veterinary market in Iberia.
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Ares Capital Corporation (NASDAQ: ARCC) has announced a public offering of 8,000,000 shares of its common stock, with an option for underwriters to purchase an additional 1,200,000 shares. The offering will utilize Ares Capital's shelf registration statement effective since June 3, 2021. The net proceeds will be used to repay outstanding debt, with potential re-borrowing for general corporate purposes. This offering may impact existing shareholders due to dilution. Major banks involved include Morgan Stanley, BofA Securities, and UBS Investment Bank.
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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