Welcome to our dedicated page for Ares Management news (Ticker: ARES), a resource for investors and traders seeking the latest updates and insights on Ares Management stock.
Ares Management Corporation reports developments across its global alternative investment management platform, including credit, real estate, private equity and infrastructure strategies. Company news commonly covers quarterly results, fee and performance income, fundraising, fund closings, direct lending origination activity and dividend declarations on its common stock.
Updates also track Ares Credit funds, Ares Commercial Finance, value-add real estate vehicles, Asia credit and special situations strategies, and sub-advised credit products. Recurring themes include capital deployment, senior secured financing commitments, fundraising across asset classes, global platform expansion and operating leadership changes.
Ares Capital (NASDAQ: ARCC) has announced a significant leadership transition, with Co-President Kort Schnabel appointed as Chief Executive Officer, effective April 30, 2025. Current CEO Kipp deVeer will step down but remain on the Board of Directors and continue serving on the Investment Committee of Ares Capital's investment adviser.
Jim Miller, appointed as Co-President in October 2024, will transition to sole President. Schnabel, who joined Ares Management in 2001, was a founding member of its U.S. Direct Lending strategy in 2004 and currently serves as Partner and Co-Head of the U.S. Direct Lending strategy.
The transition represents a continuation of leadership from within, with Schnabel bringing extensive experience in private credit investing and a long-standing commitment to the company's collaborative culture and relationship-oriented approach.
Ares Management (NYSE: ARES) has appointed Kipp deVeer and Blair Jacobson as Co-Presidents, effective immediately. Both will report to CEO Michael Arougheti while continuing to be based in New York and London, respectively.
The executives will transition from their Credit Group management roles to focus on firm-wide strategic initiatives, investor relations, and leadership development. Mitchell Goldstein and Michael Smith will continue as Co-Heads of Ares' Credit Group, while Michael Dennis and Matt Theodorakis will lead the European Direct Lending strategy.
In a related move, Kort Schnabel will become CEO of Ares Capital effective April 30, 2025, with Jim Miller continuing as sole President. deVeer, who joined Ares in 2004, has been instrumental in building the Credit Group, while Jacobson, who joined in 2012, established Ares' European Direct Lending platform.
Ares Capital (NASDAQ: ARCC) has disclosed its tax treatment for 2024 common stock distributions. The company will distribute $1.92 per share throughout 2024, paid in four quarterly installments of $0.48 each on March 29, June 28, September 30, and December 30.
Of the total distributions, 83.66% ($1.606291 per share) is classified as ordinary income, while 16.34% ($0.313709 per share) represents long-term capital gains. The company has designated these distributions as qualified dividend income and eligible for the dividends received deduction for U.S. domestic corporations. Additionally, specific percentages of each dividend payment are designated as interest-related dividends under IRC section 871(k).
ID.me, a digital identity wallet provider, has secured a $275 million credit facility from Ares Management (NYSE: ARES), which also plans to make a substantial equity investment in the company. ID.me has demonstrated significant growth with over 139 million users in its digital wallet, including 65 million users verified to federal IAL2 standards. The company's revenue has grown over 450% from 2020 through 2024.
ID.me's platform is uniquely positioned as the only digital wallet meeting federal government standards for secure login and multi-factor authentication, offering online, video chat, and in-person identity verification options. The company serves 19 federal agencies, 44 state government agencies, 66 healthcare organizations, and over 600 consumer brands. The new financing will support ID.me's continued growth and path to sustainable profitability.
Form Technologies, a global leader in precision-engineered components, announced its acquisition by Ares Management funds. The transaction includes approximately $304 million in new equity capital, consisting of $154 million in common equity from investors including Ares, D. E. Shaw group and Onex Credit, plus $150 million in preferred equity from D. E. Shaw group and Ripple Industries.
The company operates 32 facilities across 22 countries, specializing in die casting, investment casting, and metal injection molding. Form Technologies serves nearly 2,000 customers across automotive, aerospace, healthcare, and enterprise technology sectors. The new capital will support investment in operational capabilities and accelerate commercial strategy, following a platform-wide strategic repositioning over the past two years.
Ares Management (NYSE: ARES) has announced the final closing of its sixth European direct lending fund, Ares Capital Europe VI (ACE VI), raising €17.1 billion in commitments, exceeding its €15 billion target and reaching its hard cap. Including related vehicles and anticipated leverage, the total available capital for the European Direct Lending strategy is expected to be approximately €30 billion.
The fund size represents a 53% increase compared to its predecessor fund, ACE V, which closed at €11.1 billion in 2021. Combined with the previously announced $33.6 billion raised for Senior Direct Lending Fund III, Ares has secured approximately $64.5 billion across both strategies.
ACE VI has already deployed €6.4 billion across over 50 investments. The fund targets senior-secured positions in high-quality European companies with EBITDA exceeding €10 million. Ares' European Direct Lending strategy manages over $74 billion in assets and has completed nearly 380 investments totaling over €70 billion since inception.
Ares Management (NYSE: ARES) has promoted Kevin Alexander to Co-Head of Alternative Credit, joining current Co-Heads Keith Ashton and Joel Holsinger. Alexander, who joined Ares in 2019, has been instrumental in the strategy's investment origination and structuring efforts. He brings over 27 years of industry experience, including 20 years at Natixis CIB Americas where he served as Deputy CEO.
The Alternative Credit strategy at Ares is a major player in asset-based credit with $43.1 billion in assets under management as of September 30, 2024. The team focuses on investments across various sectors including specialty finance, lender finance, equipment leasing, structured products, and net lease. The strategy includes the Pathfinder family of funds, where portfolio managers commit to donate a portion of performance fees to global health and education charities.
Ares Management (ARES) has announced it will release its financial results for the fourth quarter and full year 2024 on Wednesday, February 5, 2025, before the NYSE opening. The company will host a conference call and webcast at 10:00 a.m. Eastern Time on the same day to discuss the results.
Investors can join via phone or webcast through the company's website. Domestic callers should dial +1 (800) 343-5172, while international callers can use +1 (203) 518-9856, referencing conference ID ARESQ424. Participants are advised to dial in 10-15 minutes early. An archived replay will be available until March 5, 2025, accessible via phone and website.
Ares Management (NYSE: ARES) has secured over $2.3 billion in equity commitments to support Aspida Holdings , a life insurance and annuity company. Combined with a recent $700 million credit facilities offering, total capital raised exceeds $3 billion.
Aspida has grown to over $19 billion in total assets as of September 30, 2024, leveraging its technology platform for annuity and reinsurance clients. The company maintains an open architecture sub-advisor selection, with Ares Insurance Solutions (AIS) managing its assets. The portfolio is over 90% investment grade and matched to liabilities.
The funding aims to capitalize on increasing retirement solution demands driven by increased life expectancy, rising healthcare costs, and elevated expenses. Aspida's platform combines spread-based business model and digital capabilities with AIS's asset origination and investment expertise.
Ares Capital (ARCC) has priced a $1 billion public offering of unsecured notes with a 5.800% interest rate, maturing on March 8, 2032. The notes can be redeemed at any time at par plus a make-whole premium. The offering, led by multiple joint book-running managers including BofA Securities, J.P. Morgan Securities, and SMBC Nikko Securities, is expected to close on January 8, 2025.
The company plans to use the net proceeds to repay existing debt facilities, with the option to reborrow for general corporate purposes, including portfolio company investments. The offering is subject to customary closing conditions and is being made through a prospectus supplement and accompanying prospectus filed with the SEC.