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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 has announced that its CEO and President, Michael Arougheti, will be presenting at the Barclays Global Financial Services Conference on Tuesday, September 10, 2024, at 9:45am ET. The presentation will be available via a live audio webcast in the Investor Resources section of the company's website at www.aresmgmt.com.
For those unable to attend the live event, a replay will be made available on the company's website shortly after the presentation concludes. This event provides an opportunity for investors and analysts to gain insights into Ares Management's strategies and performance directly from its top executive.
Automated Industrial Robotics Inc. (AIR) has acquired Sewtec Automation, a UK-based industrial automation company. This strategic move expands AIR's geographic footprint and strengthens its engineering capabilities. The acquisition was primarily funded by an additional investment from an Ares Management Private Equity fund.
Sewtec brings over 170 team members and a 75,000 square-foot facility to AIR's portfolio. With this addition, AIR now has over 400 employees and 275,000 square feet of automation hub space across the US, Ireland, and the UK. The company aims to leverage this expanded capacity to deliver differentiated industrial automation solutions globally.
This acquisition aligns with AIR's growth strategy, positioning it to capitalize on the increasing global demand for manufacturing automation solutions across diverse sectors.
Hyatt Hotels (NYSE:H) has completed the sale of Hyatt Regency Orlando for $1.07 billion to RIDA Development and an Ares Management Real Estate fund. The deal includes a long-term management agreement under the Hyatt Regency brand. Hyatt retained $265 million of non-controlling preferred equity and provided $50 million in seller financing for adjacent land.
This sale exceeds Hyatt's $2 billion asset-disposition commitment, with the company realizing $2.6 billion in gross proceeds over three years. RIDA and Ares plan to invest in renovations and develop a new Grand Hyatt hotel on adjacent land, potentially creating a combined 4,000+ room complex near the Orange County Convention Center.
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.
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