Ares Management Corporation Stock Price, News & Analysis

Ares Management has updated the time of its earnings conference call for the third quarter ending September 30, 2024. The call will now be held at 9:00am ET on Friday, November 1, 2024. The company will report its earnings earlier that morning, before the New York Stock Exchange opens.

Interested parties can participate via telephone or live webcast. The webcast link is available on the Investor Resources section of the Ares website. Domestic callers should dial +1 (800) 445-7795, while international callers should use +1 (203) 518-9848. Callers are advised to dial in 10-15 minutes early and reference the conference ID ARESQ324.

An archived replay will be available until December 1, 2024, accessible by phone and through the company's website.

Ares Management (NYSE: ARES) has priced an offering of $750 million aggregate principal amount of 5.600% Senior Notes due 2054. The notes, fully guaranteed by several Ares entities, will bear interest at 5.600% per annum, payable semi-annually. The offering is expected to close on October 11, 2024, with net proceeds of approximately $737.7 million.

Ares intends to use the proceeds for (i) partial payment of the cash consideration for its acquisition of GLP Capital Partners 's international business (excluding Greater China operations) and related expenses, and/or (ii) general corporate purposes, including debt repayment and strategic acquisitions. Morgan Stanley & Co. , Citigroup Global Markets Inc., RBC Capital Markets, , SMBC Nikko Securities America, Inc., and Truist Securities, Inc. are acting as joint book-running managers for the offering.

Ares Management (NYSE: ARES) has announced the pricing of its public offering of 27,000,000 shares of Series B Mandatory Convertible Preferred Stock at $50.00 per share. The offering is expected to close on October 10, 2024. Ares intends to use the net proceeds for the GCP Acquisition and general corporate purposes.

The Mandatory Convertible Preferred Stock will accumulate cumulative dividends at a rate of 6.75% per annum on the $50 liquidation preference. Unless previously converted or redeemed, each share will automatically convert into 0.2717 to 0.3260 shares of Ares' Class A Common Stock on October 1, 2027. Ares has granted underwriters a 30-day option to purchase up to an additional 3,000,000 shares.

Ares Management (NYSE: ARES) has announced the launch of an underwritten public offering of 27,000,000 shares of Series B Mandatory Convertible Preferred Stock. The company plans to grant underwriters a 30-day option to purchase up to 3,000,000 additional shares. The net proceeds will be used for:

• Partial payment of cash consideration for the acquisition of GLP Capital Partners 's international business (excluding Greater China operations)
• General corporate purposes, including debt repayment and strategic acquisitions

The Mandatory Convertible Preferred Stock will have a liquidation preference of $50 per share and will automatically convert into Ares' Class A Common Stock on or about October 1, 2027. Morgan Stanley and Citigroup are acting as joint bookrunning managers for the offering.

Ares Management (NYSE: ARES) has announced its acquisition of GCP International for $3.7 billion, excluding operations in Greater China. The deal includes $1.8 billion in cash and $1.9 billion in Ares Class A Common Shares. This strategic move will establish Ares Real Estate as a leading global platform, doubling its assets under management to approximately $96 billion across North America, Europe, Asia, and Latin America.

GCP International, with $44 billion in AUM as of June 30, 2024, specializes in new economy sectors like industrial, digital infrastructure, and self-storage. The acquisition is expected to be modestly accretive to Ares' after-tax realized income per share in the first full calendar year, with higher accretion anticipated in future years. The transaction is set to close in the first half of 2025, subject to regulatory approvals and closing conditions.

Automated Industrial Robotics Inc. (AIR) has acquired Robotics & Drives (RDS), an Ireland-based industrial automation company. This acquisition strengthens AIR's European presence and enhances its ability to integrate robotics solutions into automated systems. The transaction was primarily funded by an Ares Management Private Equity fund.

RDS, founded in 2005, develops intelligent robotics solutions and offers standardized robotic products. With approximately 50 team members, RDS operates from a 32,000-square-foot facility in Mullingar, Ireland. This acquisition expands AIR's offerings and brings its total employee count to over 500, with an automation hub footprint exceeding 300,000 square feet across the US, Ireland, and the UK.

In conjunction with the acquisition, Vivian Farrell has been promoted to President of AIR, Ireland. She will oversee the implementation of AIR's growth strategy across all business units in Ireland, including Modular Automation and RDS.

Ares Management has announced its schedule for reporting third quarter 2024 earnings. The company will release its financial results on Friday, November 1, 2024, before the New York Stock Exchange opens. A webcast/conference call will be held on the same day at 11:00 a.m. (Eastern Time) to discuss the results.

Interested parties can participate via telephone or live webcast. The webcast link will be available on the Home page of the Investor Resources section of Ares Management's website. Domestic callers can dial +1 (800) 445-7795, while international callers should use +1 (203) 518-9848. Callers are advised to dial in 10-15 minutes early and reference the conference ID ARESQ324.

An archived replay of the call will be accessible until December 1, 2024, for both domestic and international callers, as well as through a webcast link on the company's website.

Second Avenue Capital Partners (SACP) and Ares Management Credit funds have provided Gabe's, a leading off-price retailer, with a new $175,000,000 Senior Secured Revolving Line of Credit. This credit facility will support Gabe's growth initiatives, enhance operational flexibility, and strengthen its capital structure.

Gabe's, a Warburg Pincus portfolio company, operates 161 Gabe's and Old Time Pottery store locations across 20 states. The company offers top brand names and fashion at savings up to 70% off department store merchandise.

SACP's unique merchant perspective and deep retail knowledge were highlighted as key factors in this partnership. The financing package represents the culmination of a long-term relationship between SACP, SB360 Capital Partners, and Gabe's.

Ares Capital (NASDAQ: ARCC) has announced the schedule for its third quarter 2024 earnings release and conference call. The company will report its financial results for the quarter ended September 30, 2024, on Wednesday, October 30, 2024, before the Nasdaq Global Select Market opens. A webcast/conference call will be held at 12:00 p.m. (Eastern Time) on the same day to discuss the results.

Interested parties can join via telephone or live webcast. The webcast link will be available on the Investor Resources section of Ares Capital's website. Domestic callers can dial +1 (800) 245-3047, while international callers can use +1 (203) 518-9765. Participants should dial in 10-15 minutes early and reference the conference ID ARCCQ324.

An archived replay of the call will be accessible until November 30, 2024, at 5:00 p.m. (Eastern Time) via phone and the company's website.