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Overview of Ares Management Corporation
Ares Management Corporation (ARES) is a globally recognized alternative asset manager, known for its diversified investment approach. The company provides investors with a spectrum of investment solutions, covering credit strategies, private equity, real estate, and secondary market opportunities. Its disciplined investment philosophy and risk-adjusted strategies have consistently enabled it to navigate market cycles, making it a notable name in the alternative investments arena.
Core Business Segments
Ares Management operates through several distinct but integrated investment groups. Each group leverages its specialized expertise while benefiting from the overarching collaborative structure:
- Credit Group: Specializes in a broad range of credit strategies including both liquid and illiquid markets. This segment is crucial for generating revenue, focusing on providing flexible capital through direct lending and other credit facilities.
- Private Equity Group: Manages a variety of corporate private equity investments, infrastructure projects, and special opportunities. Its strategies involve hands-on involvement in growth-oriented companies and operational transformations.
- Real Assets Group: Focuses on comprehensive equity and debt strategies in the real estate and infrastructure sectors. This group is instrumental in creating value through diversified real asset investments.
- Secondaries Group: Engages in investments within secondary markets across multiple alternative asset classes, thereby offering liquidity and strategic repositioning across diverse markets.
- Others: This includes a range of complementary investment strategies that support the company’s holistic approach to alternative investments.
Investment Philosophy and Market Approach
Since its inception in 1997, Ares Management has adhered to a disciplined investment philosophy centered on delivering strong, risk-adjusted returns. The company emphasizes rigorous due diligence, a robust risk management framework, and a deep understanding of market dynamics. This approach allows Ares to capitalize on opportunities across economic cycles while maintaining a diversified risk profile.
Global Presence and Operational Excellence
The company has established a significant global footprint, operating across North America, Europe, Asia Pacific, and other key markets. This expansive presence is supported by a network of offices and a team of experienced professionals who are adept at navigating complex financial landscapes. Its ability to integrate localized market insights with global investment strategies is a testament to its operational excellence.
Competitive Landscape and Differentiation
Ares Management Corporation distinguishes itself through a holistic integration of its investment groups. By sharing research, market insights, and capital across its various segments, the company is positioned to offer innovative and flexible investment strategies that address the needs of diverse investors. This unique collaborative framework not only enhances its competitive edge but also reinforces its commitment to delivering consistent investment performance.
Strategic Value Proposition
The primary value of Ares Management lies in its ability to provide comprehensive alternative investment solutions. The synergy among its credit, private equity, real assets, and secondaries groups creates an environment where cross-segment expertise results in optimized capital allocation. Investors benefit from a structure that prioritizes risk management, flexibility, and long-term value creation within a competitive global marketplace.
Industry-Specific Insights
For industry professionals and investors, Ares offers an exemplary model of diversified asset management. The application of advanced credit analysis, strategic private equity investments, and real asset financing methodologies demonstrates a deep mastery of the alternative investments space. These characteristics, combined with an extensive global network, attest to the company's capability in adapting to varied economic conditions while maintaining operational consistency.
Conclusion
In summary, Ares Management Corporation exemplifies a robust and multi-dimensional approach to alternative asset management. Its disciplined investment strategy, combined with a diversified operational framework and comprehensive market insights, positions it as a significant player in the global investment landscape. The company’s integration of complementary strategies across its investment groups enables it to effectively manage market risks and seize value creation opportunities throughout economic cycles.
Ares Management Corporation (NYSE: ARES) announced the final closing of its fifth European direct lending fund, Ares Capital Europe V (ACE V), at €11.0 billion. This amount surpasses its €9.0 billion target and marks the largest European direct lending fund to date. The Fund's size is approximately 70% larger than its predecessor. With around 180 investors, including 65 new limited partners, ACE V will have about €15.0 billion in total capital available. The Ares European Direct Lending team has already committed €1.7 billion across 11 investments, highlighting robust investment activity.
EPIC Midstream Holdings has appointed George Millas as Chief Commercial Officer starting April 19, 2021. Millas brings extensive experience in commercial operations, having previously served at Energy Transfer and Crestwood Equity Partners. He will report to CEO Brian Freed and is expected to enhance EPIC's customer base while ensuring the efficient transportation of crude oil and natural gas liquids from the Permian Basin. EPIC operates significant midstream infrastructure pipelines across major Texas basins and is affiliated with Ares Management Corporation.
Ares Management Corporation (NYSE: ARES) has priced its public offering of 9.5 million shares of Class A common stock at $54.00 per share, with an option for underwriters to purchase an additional 1.425 million shares. The offering is set to close around April 8, 2021. Concurrently, Ares entered a share purchase agreement with Sumitomo Mitsui Banking Corporation for $250 million of common stock. Proceeds will be used for the acquisition of Landmark Partners LLC and general corporate purposes, including debt repayment and growth initiatives.
Ares Management Corporation (NYSE: ARES) announced the final closing of its Ares U.S. Real Estate Opportunity Fund III, L.P. (AREOF III), surpassing its $1.5 billion target with $1.7 billion in commitments. This fund represents Ares' largest U.S. real estate equity fundraising to date, significantly exceeding the $1 billion raised for the previous fund. The Fund aims to capitalize on post-COVID-19 market dislocation with nine investments already committed, reflecting the team's extensive experience and strategic positioning to seize attractive investment opportunities.
Ares Management Corporation (NYSE: ARES) announced a public offering of 9,500,000 shares of Class A common stock, with an option for underwriters to purchase an additional 1,425,000 shares. Concurrently, Ares has a share purchase agreement with Sumitomo Mitsui Banking Corporation to acquire approximately $250 million of common stock. Proceeds will fund the cash consideration for the planned acquisition of Landmark Partners LLC and other corporate purposes, including debt repayment and strategic growth.
Ares Management Corporation will release its earnings report for Q1 2021 on April 29, 2021, before the NYSE opens. A conference call will follow at 12:00 p.m. ET to discuss the financial results. Interested parties can join the call via phone or live webcast through Ares' Investor Resources webpage. As of December 31, 2020, Ares had approximately $197 billion in assets under management, showcasing its position as a key player in alternative investments across Credit, Private Equity, Real Estate, and Strategic Initiatives.
EPIC Midstream Holdings has appointed Jason Blevins as Chief Operating Officer effective March 22, 2021. Reporting to CEO Brian Freed, Blevins brings significant operational expertise, particularly from his previous roles in the Permian Basin and Texas Gulf Coast. His experience includes leadership positions at Ares Management and Plains All American. This appointment aligns with EPIC's strategy to transition from a development-focused company to a premier operating entity, enhancing services for customers and partners.
Ares Management Corporation (NYSE: ARES) has entered into a definitive agreement to acquire 100% of Landmark Partners, LLC for $1.08 billion. The deal includes approximately $787 million in cash and $293 million in Ares Operating Group Units. Landmark, a leader in secondary private fund ownership stakes, has $18.7 billion in assets under management. The acquisition aims to enhance Ares' offerings in alternative investments, capitalizing on increasing investor interest and expected strong performance. Landmark's management team, recognized for their innovative solutions, will remain integral to the new venture.
Savers has reached a definitive agreement for Ares Management Corporation (NYSE: ARES) to acquire full ownership from Crescent Capital Group. Ares, a minority stakeholder, will assume majority ownership, enhancing its investment in Savers, which boasts nearly 300 stores across North America and Australia and generates an average annual revenue of $1.2 billion. The acquisition aims to support Savers' growth in the thrift retail sector, capitalizing on the rising demand for sustainable and pre-owned goods. The deal's closing is contingent on standard conditions.
Ares Management Corporation (NYSE: ARES) announces the final closing of its Ares Pathfinder Fund, L.P., achieving $3.7 billion in commitments, surpassing its $2.0 billion target. The Fund, managed by Ares’ Alternative Credit team, focuses on alternative credit assets, with $13 billion in assets under management as of December 31, 2020. Pathfinder also commits to donating at least 10% of its carried interest profits to global health and education charities. The Fund attracted 80 global investors, with 34% being new clients, indicating strong confidence in Ares’ investment strategy.
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