Ares Management Corporation - ARES STOCK NEWS

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.

TricorBraun has announced a definitive stock purchase agreement with funds managed by Ares Management and Ontario Teachers' Pension Plan Board to acquire a majority interest in the company. TricorBraun will continue to be led by its existing management team, retaining significant investment in the company. The transaction aims to leverage Ares and Ontario Teachers' resources to accelerate TricorBraun's growth in the packaging industry, which generated $1.5 billion in annual sales in 2020. The deal is expected to close in Q1 2021, pending regulatory approvals.

Ares Management Corporation (NYSE: ARES) and Aspida Holdings Ltd. have successfully completed the acquisition of F&G Reinsurance Ltd. from FGL Holdings. Terms were not disclosed. Aspida Re will maintain operations in Bermuda and focus on reinsurance solutions for insurance firms, aiming to optimize balance sheets for future growth. Ares continues to bolster its insurance capabilities, notably through the appointment of Raj Krishnan as Chief Investment Officer of Ares Insurance Solutions, enhancing support for Aspida Re.

Ares Management Corporation announced that CEO Michael Arougheti will present at the 2020 Goldman Sachs U.S. Financial Services Conference on December 8, 2020, at 12:00 p.m. ET. A live audio webcast of the presentation will be accessible on the company's website, with a replay available afterward. As of September 30, 2020, Ares Management manages approximately $179 billion in assets and operates across Credit, Private Equity, Real Estate, and Strategic Initiatives, employing over 1,400 people globally.