Ares Management Corporation Stock Price, News & Analysis

CS Energy has been acquired by American Securities, a prominent private equity firm, from Ares Management and The Conti Group. The acquisition aligns with American Securities' strategy to invest in leading companies within the renewable energy sector. CS Energy, recognized for its extensive work in solar and energy storage, has implemented over 1 GW of solar and 300 MWh of storage projects globally. The management team will continue its existing strategy to fuel growth and execute projects effectively. The acquisition aims to enhance CS Energy's capabilities amidst the accelerating U.S. energy transition.

Ares Management Corporation (NYSE: ARES) announced around $3.6 billion in new financing commitments across 45 transactions in Q1 2021. Key deals included:

• AI Fire: Secured credit facility for Snow Phipps acquisition.
• Commercial Trailer Leasing: Financing for strategic plans.
• Continental Batteries: Credit support for H.I.G. Capital's acquisition.
• ProfitSolv: Financing for integrated solutions provider.
• Stealth Monitoring: Support for merger and remote monitoring solutions.
• Veterinary Practice Partners: Funded growth plans.
• WellSky: Credit facility for health tech expansion.
• Wilshire Associates: Financing for investment technology acquisition.

Ares Management Corporation (NYSE:ARES) reported a GAAP net income of $58.4 million for Q1 2021, equating to $0.33 per share. The company's after-tax realized income was $127.6 million, or $0.46 per share, with fee related earnings at $128.5 million. Ares surpassed $200 billion in assets under management, marking a 39% growth from four years ago. New capital raised totaled $10 billion, with a quarterly dividend of $0.47 per Class A common share declared. The company anticipates continued growth supported by favorable market conditions.

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.