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Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager with a diversified platform that provides clients with complementary primary and secondary investment solutions across credit, private equity, real estate, and infrastructure asset classes. Founded in 1997, Ares adheres to a disciplined investment philosophy designed to deliver strong risk-adjusted returns throughout various market cycles.
As of December 31, 2023, Ares manages approximately $428 billion in assets and operates from over 15 offices across North America, Europe, Asia, and Australia. The company is organized into four key business segments: the Credit Group, the Private Equity Group, the Real Assets Group, and the Secondaries Group.
The Credit Group is Ares' largest segment by revenue, focusing on managing credit strategies across both liquid and illiquid markets. This includes investing in leveraged loans, high-yield bonds, and private credit opportunities. Highlighting its recent achievements, Ares closed approximately $9.3 billion in U.S. direct lending commitments in Q1 2024 alone.
The Private Equity Group handles investments in corporate private equity, infrastructure and power, and special opportunities. Notable investments include support for the growth plans of companies like Aptean and Artivion.
The Real Assets Group manages comprehensive equity and debt strategies across real estate and infrastructure investments. Recent projects include significant contributions to Vantage Data Centers' expansion in the EMEA region.
The Secondaries Group invests in secondary markets across a range of alternative asset strategies, including private equity, real estate, infrastructure, and credit.
Ares places a strong emphasis on collaboration across its investment groups to generate consistent and attractive returns. The firm is committed to flexible capital deployment to support businesses and create value for stakeholders. For more information, visit www.aresmgmt.com.
Ares Management (NYSE:ARES) reported record-breaking U.S. direct lending activity for Q2 2024 and the 12 months ended June 30, 2024. The company closed $12.8 billion in commitments across 93 transactions in Q2, contributing to a 12-month total of $38.3 billion across 295 transactions. This represents a new record for Ares' U.S. Direct Lending business.
The press release highlights 11 significant transactions where Ares served in various roles, including administrative agent, lead arranger, and book runner. These deals span diverse industries such as fraud prevention, food & beverage, veterinary services, scientific research software, personal care, dental equipment, fire safety, car wash services, packaged ice, healthcare operations software, and aerospace MRO services.
Ares Management (NYSE:ARES) reported strong second quarter 2024 results, with GAAP net income of $94.9 million and earnings per share of $0.43. The company achieved record gross fundraising of $26 billion and its second-highest level of deployment in history. After-tax realized income was $332.0 million, with $0.99 per share. Fee related earnings reached $324.5 million.
CEO Michael Arougheti highlighted the growing interest from institutional and high net worth investors in Ares' private market investment solutions. CFO Jarrod Phillips noted double-digit growth across key financial metrics and a record $120 billion in available capital. Ares declared a quarterly dividend of $0.93 per share, payable on September 30, 2024.
Ares Management (NYSE: ARES) has announced the final closing of its Ares Senior Direct Lending Fund III (SDL III), raising $15.3 billion in equity commitments, significantly exceeding its initial target of $10 billion. The total capital base for SDL III is expected to reach $33.6 billion, including related vehicles and anticipated leverage. This makes SDL III the largest direct lending fund in Ares' history and the largest institutional fund in the market.
SDL III is nearly double the size of its predecessor, SDL II, which had $14.9 billion in total debt and equity commitments. The fund has already deployed about one-third of its capital, committing $9.0 billion to over 165 companies. Ares' U.S. Direct Lending strategy focuses on providing senior secured loans to middle market companies in North America, targeting businesses with $10 million to over $150 million of EBITDA.
Ares Management (NYSE: ARES) has announced a significant £755 million preferred equity investment in Quintain, the company behind London's iconic Wembley Park estate. This investment is led by Ares' Alternative Credit strategy, with Lone Star Funds contributing £337 million. Wembley Park, an 85-acre mixed-use development, has already received over £2.8 billion in investment, transforming it into a premier destination with retail, office space, parks, and around 5,000 homes.
The partnership aims to further develop Wembley Park and strengthen Quintain's position in London's undersupplied residential rental market. As part of the deal, Stefano Questa from Ares will join Quintain's Board of Directors. This collaboration marks a significant step in Quintain's evolution under Lone Star's ownership and demonstrates Ares' capability to provide creative capital solutions for high-quality assets.
Ares Capital (NASDAQ: ARCC) announced financial results for Q2 2024 and declared a Q3 2024 dividend of $0.48 per share. Key highlights include:
- GAAP net income of $0.52 per share
- Core EPS of $0.61, up from $0.58 in Q2 2023
- Net investment income of $358 million ($0.58 per share)
- Portfolio investments at fair value increased to $24.97 billion
- Made new investment commitments of $3.9 billion
- Maintained a stable debt-to-equity ratio of 1.06x
The company reported strong year-over-year growth in Core EPS and net asset value per share, driven by increased investment activity and solid credit fundamentals.
Ares Management has announced its schedule for reporting earnings for the second quarter ending June 30, 2024. The earnings report will be released on Friday, August 2, 2024, before the New York Stock Exchange opens. On the same day at 11:00 a.m. Eastern Time, the company will hold a webcast and conference call to discuss the financial results. Interested parties can participate via telephone or a live webcast, accessible through the company's website. An archived replay of the call will be available until September 2, 2024, through both telephone and the company's website.
Unrivaled Sports has announced a strategic investment in SNÖBAHN, a leading indoor action sports center, to expand its reach. The investment accompanies another by Ares Management, joining renowned names like Shaun White and Bode Miller. The initiative aims to develop SNÖBAHN's innovative facilities, which include revolving slopes and trampoline freestyle areas, into new markets. Unrivaled Sports co-founders Josh Harris and David Blitzer, along with Ares, plan to make snowboarding, skiing, and other action sports more accessible nationwide. SNÖBAHN's newest Thornton, Colorado facility opened in March 2024. The company is holding annual summer camps through mid-August. The combined efforts of Unrivaled Sports, Ares, and SNÖBAHN promise to revolutionize action sports training and participation in non-mountainous regions.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) for Aspida Life Insurance Company and Aspida Life Re , collectively known as Aspida Group. Both ratings have a stable outlook, reflecting the group's very strong balance sheet, adequate operating performance, and effective enterprise risk management. Significant support from Ares Management and third-party investors is expected to help Aspida Group execute its growth strategies in reinsurance and retail sectors. AM Best anticipates positive operating trends and maintained capital strength with increasing returns on capital over the near to medium term.
RSK Group announced a £500 million preferred equity investment from a consortium led by Searchlight Capital Partners and Ares Management funds. An additional £300 million debt facility from Ares brings their total available debt facilities to £1.4 billion. This investment will support RSK's 2030 Global Strategy, including organic growth and acquisitions. Founded in 1989, RSK provides environmental consulting and engineering solutions across various sectors. The new partnership aims to strengthen RSK's position as a global leader in sustainability solutions. CEO Alan Ryder and representatives from Searchlight and Ares expressed their enthusiasm for the strategic partnership and its potential to drive long-term growth and sustainability initiatives.
Ares Management (NYSE: ARES) has announced the pricing of its public offering of 2,650,000 shares of Class A common stock at $134.75 per share.
The company has also granted the underwriters an option to purchase an additional 397,500 shares. The offering is expected to close on or around June 14, 2024, pending customary closing conditions.
Ares plans to use the proceeds for general corporate purposes including debt repayment, strategic acquisitions, and growth initiatives. A registration statement has been filed with the SEC and is effective.
The offering will be conducted via a prospectus, available on the SEC's website or by contacting Morgan Stanley.
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