Welcome to our dedicated page for Ares Management Corporation news (Ticker: ARES), a resource for investors and traders seeking the latest updates and insights on Ares Management Corporation stock.
Ares Management Corporation (NYSE: ARES) regularly features in financial and corporate news as a global alternative investment manager active across credit, real estate, private equity and infrastructure. Its press releases and related announcements highlight fundraising activity, new strategies, portfolio company developments and partnerships that reflect how Ares deploys capital and expands its platform.
Recent news includes the closing of a large capital raise for the Ares Credit Secondaries strategy, which the company describes as focused on constructing diversified portfolios of private credit exposures through secondary transactions. Other items showcase Ares Infrastructure Opportunities funds partnering with ENGIE North America on U.S. solar and wind assets, and Ares Real Assets funds completing data center transactions in Northern Virginia through the Ares Digital Infrastructure business and its Ada Infrastructure platform.
Additional coverage shows Ares-affiliated funds supporting portfolio companies and platforms in sectors such as tax services, industrial automation, veterinary services and equipment finance. Examples include Ares Private Equity Funds participating as long-term partners in Ryan, LLC and Automated Industrial Robotics Inc., and Ares Alternative Credit funds being affiliated with Ansley Park Capital, an equipment finance platform. These stories illustrate how Ares’ investment strategies translate into transactions and corporate milestones across different industries.
This news page aggregates such updates for ARES, including earnings announcements, capital markets activity, fund launches, partnerships and portfolio-level developments mentioned in company communications. Investors and observers can use this feed to follow how Ares Management Corporation describes the evolution of its alternative investment platform and the activities of its related funds and portfolio companies over time.
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.
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.