Ares Management Corporation Stock Price, News & Analysis

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.

Ares Management Corporation (NYSE: ARES) has announced that its COO and CFO, Michael McFerran, will participate in a panel discussion at the RBC Capital Markets Global Financials Conference on March 10, 2021, at 9:20 am ET. Investors can access a live audio webcast of the presentation through the Investor Resources section of Ares' website. A replay will also be available shortly after the event. Ares Management is a prominent global alternative investment manager, overseeing approximately $197 billion in assets as of December 31, 2020.