Ares Management Corporation - ARES STOCK NEWS

AMP Limited and Ares Management Corporation (NYSE: ARES) have agreed to a non-binding Heads of Agreement for a joint venture involving AMP Capital's private markets businesses, including infrastructure equity, infrastructure debt, real estate, and other minority investments. Ares aims to acquire 60% of the joint venture, valued at A$2.25 billion, for A$1.35 billion, while AMP retains 40%. The venture will enhance growth potential and is expected to yield significant cash proceeds for AMP. The agreement remains subject to regulatory and shareholder approvals.

Ares Management Corporation (NYSE: ARES) and Generation Partners announced a joint venture acquisition of two student accommodation assets in Exeter and Cardiff for £157.5 million, totaling 1,359 beds. This investment aligns with their strategy focusing on Purpose-Built Student Accommodation (PBSA) in the UK. The assets, completed by Mace Developments, feature high-quality buildings and excellent amenities. Ares aims to expand its portfolio in the student housing sector, leveraging Generation’s two decades of experience in PBSA.

Ares Management Corporation (NYSE: ARES) will have its CEO Michael Arougheti and COO/CFO Michael McFerran present at the 22^nd Annual Credit Suisse Financial Services Forum on February 25, 2021, at 12:10 p.m. ET. A live audio webcast of the presentation will be available in the Investor Resources section of Ares' website, with a replay accessible shortly after the event. Ares Management Corporation specializes in alternative investments and manages approximately $197 billion in assets globally as of December 31, 2020.

Ares Management Corporation (NYSE: ARES) announced significant financing commitments, closing approximately $7.3 billion across 68 transactions in Q4 2020, and a total of $13.7 billion across 163 transactions for the entire year. Key transactions include financing for Advarra, Arrowhead Engineered Products, and Rawlings Sporting Goods, among others, highlighting ARES's role as a crucial financial partner in various sectors such as healthcare, logistics, and manufacturing. The company manages about $197 billion in assets, showcasing its strong market presence.

Ares Management Corporation (NYSE: ARES) reported its Q4 and full-year 2020 financial results, highlighting a GAAP net income of $79.3 million for the quarter and $152.1 million for the year. Earnings per share were $0.48 and $0.89, respectively. The company achieved an after-tax realized income of $160.9 million for Q4 and $519 million for the year, with fee-related earnings of $127.6 million and $424.5 million. A 17.5% dividend increase was announced, with a declared quarterly dividend of $0.47 per share payable on March 31, 2021. Ares also indicated strong growth in assets under management (AUM) and fundraising efforts during 2020.

Ares Acquisition Corporation (AAC) has successfully closed its initial public offering, raising $1 billion by selling 87 million Class A ordinary shares at $10 each, followed by an additional 13 million shares due to underwriters’ exercise of an over-allotment option. The offering, executed by UBS and Citigroup among others, allows AAC to pursue strategic business combinations. As of September 30, 2020, its sponsor, Ares Management Corporation (ARES), managed approximately $179 billion in assets. AAC's shares are trading on NYSE since February 2, 2021.

Ares Management Corporation has launched Vmo Aircraft Leasing L.P., a new company aimed at acquiring and leasing commercial aircraft, with initial equity capital of approximately $500 million. Led by industry veterans Bob Brown, Sean Sullivan, and Will Hudson, Vmo aims to build a global, diversified portfolio of modern aircraft. This partnership is seen as a significant opportunity to provide flexible financial solutions to the aviation sector, which has been significantly affected by COVID. Ares, managing around $179 billion in assets, supports Vmo's mission.

Pretium and Ares Management have completed the acquisition of Front Yard Residential, marking a significant transaction in the single-family rental (SFR) market. With over 55,000 rentals, Pretium becomes the second-largest owner in the U.S. SFR sector. The partnership aims to optimize and grow Front Yard's diversified portfolio, capitalizing on high occupancy rates and stable cash flows. CEO Don Mullen emphasized the urgency for institutional investors in this asset class, anticipating attractive returns. This strategic move positions Pretium and Ares to leverage their combined experience for future growth.

Ares Management Corporation will report its fourth quarter and fiscal year earnings for 2020 on February 11, 2021, before the NYSE opens. The company will host a conference call at 12:00 p.m. ET the same day to discuss financial results. Ares Management, a leading global alternative investment manager, manages approximately $179 billion in assets as of September 30, 2020. Interested parties can access the call through the provided phone numbers or via a live webcast on their website.