Ares Management Corporation (NYSE:ARES) today reported its financial results for its third quarter ended September 30, 2024. GAAP net income attributable to Ares Management Corporation was $118.5 million for the quarter ended September 30, 2024. On a basic and diluted basis, net income attributable to Ares Management Corporation per share of Class A and non-voting common stock was $0.55 for the quarter ended September 30, 2024. After-tax realized income was $316.0 million for the quarter ended September 30, 2024. After-tax realized income per share of Class A common stock was $0.95 for the quarter ended September 30, 2024. Fee related earnings were $339.3 million for the quarter ended Sep

DIVIDEND DECLARATIONS Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced that its Board of Directors has declared a fourth quarter 2024 dividend of $0.48 per share. The fourth quarter 2024 dividend is payable on December 30, 2024 to stockholders of record as of December 13, 2024. SEPTEMBER 30, 2024 FINANCIAL RESULTS Ares Capital also announced financial results for its third quarter ended September 30, 2024. OPERATING RESULTS     Q3-24(1)   Q3-23(1) (dollar amounts in millions, except per share data)   Total Amount   Per Share   Total Amount   Per Share GAAP net income per share(2)(3)       $ 0.62  

NEW YORK, NY / ACCESSWIRE / October 17, 2024 / Ares Management Corporation announced today that it has updated the time it will hold its earnings webcast/conference call for the third quarter ending September 30, 2024 to 9:00am ET on Friday, November 1, 2024. Ares Management Corporation will report its earnings for the third quarter ending September 30, 2024 earlier that morning, prior to the opening of the New York Stock Exchange.All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of our website at http://www.aresmgmt.com. Please visit the website to test your c

Strategic Acquisition Cements Ares as a Leading Global Real Estate Alternative Asset Manager, With Approximately $96 Billion in Real Estate Assets Under Management Adds Complementary Investment, Development and Operating Capabilities in Key New Economy Sectors and Regions in Industrial Real Estate and Digital Infrastructure Transaction Structured for Leadership Continuity and Alignment with Fund Clients and Ares Stockholders; Substantial Majority of Total Consideration to GCP International Management and Employees to be Paid in Ares Stock and Subject to Long-Term Retention Mechanisms Ares Management Corporation (NYSE:ARES) ("Ares") announced today that it has entered into a definitive ag

NEW YORK, NY / ACCESSWIRE / October 4, 2024 / Ares Management Corporation announced today that it will report earnings for the third quarter ending September 30, 2024 on Friday, November 1, 2024 prior to the opening of the New York Stock Exchange. Ares Management Corporation will hold its webcast/conference call on the same day at 11:00 a.m. (Eastern Time) to discuss its third quarter ending September 30, 2024 financial results.All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of our website at http://www.aresmgmt.com. Please visit the website to test your conn

Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that it will report earnings for the third quarter ended September 30, 2024 on Wednesday, October 30, 2024 prior to the opening of the Nasdaq Global Select Market. Ares Capital invites all interested persons to attend its webcast/conference call at 12:00 p.m. (Eastern Time) on the same day to discuss its third quarter ended September 30, 2024 financial results. All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of our website at www.arescapitalcorp.com. Please visit the website to test you

BOSTON, Sept. 18, 2024 /PRNewswire/ -- Schottenstein affiliates Second Avenue Capital Partners (SACP) and SB360 Capital Partners (SB360), providers of customized solutions for the retail and consumer product sectors, along with Ares Commercial Finance (Ares), are pleased to announce the closing of a $112,000,000 Senior Secured Revolving Credit Facility and Term Loan for Backcountry, the leading, premium specialty retailer of outdoor gear and apparel. The new financing package refinanced a previous facility and supported the company's acquisition by venture-backed firm CSC Generation Enterprise (CSC). Backcountry was founded in 1996 by Jim Holland and John Bresee in Park City, Utah. Holland

Transaction Advances AIR's Growth Strategy With New Capabilities Across Expanded Footprint and Diversified Customer Base Automated Industrial Robotics Inc. ("AIR" or the "Company") today announced the acquisition of Sewtec Automation ("Sewtec"), a leading industrial automation company based in the United Kingdom. The transaction expands AIR's geographic footprint, strengthens its engineering capabilities and further positions the Company to capitalize on the increasing global demand for manufacturing automation solutions across a diversified customer base. The transaction was funded primarily by an additional investment from an Ares Management Private Equity fund ("Ares"). Founded in 19

Ares Management Corporation (NYSE:ARES) today reported its financial results for its second quarter ended June 30, 2024. GAAP net income attributable to Ares Management Corporation was $94.9 million for the quarter ended June 30, 2024. On a basic and diluted basis, net income attributable to Ares Management Corporation per share of Class A and non-voting common stock was $0.43 for the quarter ended June 30, 2024. After-tax realized income was $332.0 million for the quarter ended June 30, 2024. After-tax realized income per share of Class A common stock was $0.99 for the quarter ended June 30, 2024. Fee related earnings were $324.5 million for the quarter ended June 30, 2024. "We gener

DIVIDEND DECLARATIONS Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced that its Board of Directors has declared a third quarter 2024 dividend of $0.48 per share. The third quarter 2024 dividend is payable on September 30, 2024 to stockholders of record as of September 13, 2024. JUNE 30, 2024 FINANCIAL RESULTS Ares Capital also announced financial results for its second quarter ended June 30, 2024. OPERATING RESULTS       Q2-24(1)   Q2-23(1)   (dollar amounts in millions, except per share data)   Total Amount   Per Share   Total Amount   Per Share   GA

Ares Management Corp. (NYSE:ARES) and HPS Investment Partners are spearheading a $3 billion credit facility to finance Carlyle Group Inc.’s (NASDAQ:CG) potential acquisition of Baxter International Inc.’s (NYSE:BAX) kidney-care division. This debt package includes a $2.5 billion unitranche loan and a $450 million revolver. Oaktree Capital Management is also involved in the financing, and smaller lenders may participate after signing. Also Read: Medical Devices Giant Baxter Secures FDA Approval For New Infusion Pump System. The financing terms suggest an interest rate five percentage points above the Secured Overnight Financing Rate, placing the division Vantive’s leverage at 4.2

https://www.bloomberg.com/news/articles/2024-07-23/ares-hps-line-up-3-billion-debt-for-carlyle-s-baxter-unit-bid?sref=y3YMCJ4e

Barclays analyst Benjamin Budish maintains Ares Management (NYSE:ARES) with a Overweight and raises the price target from $150 to $151.

TD Cowen analyst Jason Gabelman maintains Ares Management (NYSE:ARES) with a Buy and lowers the price target from $168 to $158.

The Walt Disney Company (NYSE:DIS) CEO Bob Iger rejoined the company in the CEO role in November 2022. In addition to leading Disney, Iger may soon add sports team owner to his list of titles. What Happened: Disney is no stranger to sports with its ESPN brand and previous ownership of the Anaheim Mighty Ducks (NHL) and Anaheim Angels (MLB). The company's CEO is nearing a deal to acquire a stake in women's soccer team Angel City, which competes in the National Women's Soccer League (NWSL). Angel City would be valued at $300 million in the deal, according to a report from Semafor. This would make the team the most valuable women's sports team in the world. Iger and his wife Willow

Ares Management's (NYSE:ARES) short percent of float has risen 19.62% since its last report. The company recently reported that it has 3.42 million shares sold short, which is 1.89% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.32 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short intere

Unrivaled Sports, a leader in world-class youth and recreational sports experiences, announced today that it has made a strategic investment in SNÖBAHN, the nation's premier indoor action sports center with two locations in Colorado. Additionally, the company announced a strategic investment in its action sports division by Ares Management funds. Ares' investment enhances a team that includes snowboarding legend Shaun White, The Chernin Group (TCG), and Unrivaled Sports co-founders Josh Harris and David Blitzer. Unrivaled Sports is committed to expanding SNÖBAHN into new markets, making action and snow sports more accessible to a wider audience in the years ahead. Founded in 2016, SNÖBAHN's

Investments in American professional sports franchises have more than doubled the equities market returns since 2000. The outperformance is attributed to lucrative media rights deals and the dawn of streaming. The Data: The first-of-its-kind Ross-Arctos Sports Franchise Index (RAFSI), released in June, tracks the valuation of NFL, NBA, MLB and NHL franchises against the SPDR S&P 500 ETF Trust (NYSE:SPY). According to the index, sports franchise investments have seen 13% annualized returns over the past 60 years. Since 2000, the RAFSI recorded 1,260% returns while the S&P 500 appreciated 620%. In the past 20 years, the only asset class with higher annualized returns is private equity.

Energy drink conglomerate Red Bull is reportedly competing for ownership of an NBA team. What Happened: The Austrian company is willing to spend $4 billion to bring a franchise to Las Vegas, Bloomberg reported, citing unnamed sources. Red Bull already owns two Formula 1 teams and Major League Soccer’s New York Red Bulls, among other sports-related investments. It is unclear how Red Bull would finance a deal. Company revenue from its energy drink products is believed to have eclipsed 10 billion euros ($10.9 billion) for the first time in 2023. See Also: Portnoy Wins Big With Boston Celtics NBA Championship, Rapper Drake Loses $500K And Could Lose $500K More On NHL Bet Why it Ma

The new investment will support the Company's continued organic and inorganic growth RSK Group Limited ("RSK" or the "Company"), a global leader in the delivery of sustainable solutions, today announced it has entered into an agreement to receive a £500 million preferred equity investment from a consortium led by Searchlight Capital Partners, L.P. ("Searchlight"), and Ares Management Corporation funds ("Ares"). In addition, Ares has committed an incremental £300 million debt facility to further support RSK's growth plans, bringing total available debt facilities provided by Ares to £1.4 billion.

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$12.3 Billion in New Commitments Closed in the Third Quarter, Reaching a Record of $44.5 Billion Closed in the 12 Months Ended September 30, 2024 NEW YORK, NY / ACCESSWIRE / November 1, 2024 / Ares Management Corporation (NYSE:ARES) announced today that funds managed by its Credit Group (collectively "Ares") closed approximately $12.3 billion in U.S. direct lending commitments across 86 transactions during the third quarter of 2024 and approximately $44.5 billion in direct lending commitments across 328 transactions in the 12 months ended September 30, 2024. The $44.5 billion of commitments over the 12-month period represents a new record for the U.S. Direct Lending business. Below is a desc

Ares Management Corporation (NYSE:ARES) today reported its financial results for its third quarter ended September 30, 2024. GAAP net income attributable to Ares Management Corporation was $118.5 million for the quarter ended September 30, 2024. On a basic and diluted basis, net income attributable to Ares Management Corporation per share of Class A and non-voting common stock was $0.55 for the quarter ended September 30, 2024. After-tax realized income was $316.0 million for the quarter ended September 30, 2024. After-tax realized income per share of Class A common stock was $0.95 for the quarter ended September 30, 2024. Fee related earnings were $339.3 million for the quarter ended Sep

Michael Smith and Mitch Goldstein Appointed as Co-Chairmen of Board of Directors Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that James ("Jim") R. Miller was appointed as Co-President to serve alongside current Co-President, Kort Schnabel. Concurrently, Ares Capital's Board of Directors was expanded by one member. Mitchell ("Mitch") Goldstein joined Ares Capital's Board of Directors, and Mitch Goldstein and Michael L. Smith have been appointed to serve as Co-Chairmen of Ares Capital's Board of Directors. Michael Arougheti will cease to serve as Chairman of Ares Capital's Board of Directors but will continue to serve as a Director. Kipp deVeer will continue in hi

DIVIDEND DECLARATIONS Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced that its Board of Directors has declared a fourth quarter 2024 dividend of $0.48 per share. The fourth quarter 2024 dividend is payable on December 30, 2024 to stockholders of record as of December 13, 2024. SEPTEMBER 30, 2024 FINANCIAL RESULTS Ares Capital also announced financial results for its third quarter ended September 30, 2024. OPERATING RESULTS     Q3-24(1)   Q3-23(1) (dollar amounts in millions, except per share data)   Total Amount   Per Share   Total Amount   Per Share GAAP net income per share(2)(3)       $ 0.62  

CION Ares Management LLC ("CAM"), a joint venture between affiliates of CION Investments ("CION"), a leading manager and distributor of alternative investment solutions for individual investors, and Ares Management Corporation ("Ares"), a leading global alternative investment manager, announced that CION Ares Diversified Credit Fund ("CADC" or the "Fund") recently surpassed $6 billion in total assets under management. CION co-CEO Michael Reisner noted, "We introduced a diversified credit strategy in an interval fund structure in 2017 because we believed that individual investors, through their financial advisors, should have access to the benefits that the private markets can bring in achi

NEW YORK, NY / ACCESSWIRE / October 17, 2024 / Ares Management Corporation announced today that it has updated the time it will hold its earnings webcast/conference call for the third quarter ending September 30, 2024 to 9:00am ET on Friday, November 1, 2024. Ares Management Corporation will report its earnings for the third quarter ending September 30, 2024 earlier that morning, prior to the opening of the New York Stock Exchange.All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of our website at http://www.aresmgmt.com. Please visit the website to test your c

EPIC Crude Holdings, LP ("EPIC Crude" or "the Company") today announced that it has completed the issuance of a new $1,200 million senior secured Term Loan B due 2031. The Company used the net proceeds from the Term Loan to repay its existing $1,125 million Term Loan B and Term Loan C due 2026 and repay its existing $40 million senior secured revolver due 2026. As part of the transaction, the Company entered into a new agreement for a super-priority revolving credit facility of $125 million due 2029, undrawn at close. This refinancing is a key component of the overall transformation of the EPIC Crude business and is reflected in the Company's Ba3 and BB- credit ratings from Moody's and S&P,

Ares Management Corporation ("Ares" or the "Company") (NYSE:ARES) today announced that it has priced an offering (the "Offering") of $750,000,000 aggregate principal amount of its 5.600% Senior Notes due 2054 (the "notes"). The notes will be fully and unconditionally guaranteed by Ares Holdings L.P., Ares Management LLC, Ares Investments Holdings LLC, Ares Finance Co. LLC, Ares Finance Co. II LLC, Ares Finance Co. III LLC and Ares Finance Co. IV LLC. The Offering is expected to close on October 11, 2024, subject to the satisfaction of customary closing conditions. The notes will bear interest at a rate of 5.600% per annum. Interest on the notes will be payable semi-annually in arrears on A

Ares Management Corporation (NYSE:ARES) ("Ares" or the "Company") today announced the pricing of its previously announced underwritten public offering (the "Offering") of 27,000,000 shares of Series B Mandatory Convertible Preferred Stock, par value $0.01 per share ("Mandatory Convertible Preferred Stock"), of the Company at a public offering price of $50.00 per share of Mandatory Convertible Preferred Stock. In addition, Ares has granted to the underwriters of the Offering a 30-day option to purchase up to an additional 3,000,000 shares of Mandatory Convertible Preferred Stock at the public offering price, less underwriting discounts and commissions, solely to cover over-allotments. The Of

Ares Management Corporation (NYSE:ARES) ("Ares" or the "Company") today announced the launch of an underwritten public offering (the "Offering") of 27,000,000 shares of Series B Mandatory Convertible Preferred Stock, par value $0.01 per share ("Mandatory Convertible Preferred Stock"), of the Company. Ares expects to grant to the underwriters of the Offering a 30-day option to purchase up to 3,000,000 additional shares of Mandatory Convertible Preferred Stock solely to cover over-allotments. Ares intends to use the net proceeds from the Offering for (i) the payment of a portion of the cash consideration due in respect of the Company's previously announced acquisition of the international bus

Wells Fargo initiated coverage of Ares Management with a rating of Equal Weight and set a new price target of $156.00

Redburn Atlantic initiated coverage of Ares Management with a rating of Neutral and set a new price target of $140.00

Deutsche Bank downgraded Ares Management from Buy to Hold and set a new price target of $132.00 from $176.00 previously

Deutsche Bank initiated coverage of Ares Management with a rating of Buy and set a new price target of $176.00

TD Cowen initiated coverage of Ares Management with a rating of Buy and set a new price target of $154.00

Jefferies downgraded Ares Management from Buy to Hold and set a new price target of $122.00

Wolfe Research initiated coverage of Ares Management with a rating of Outperform and set a new price target of $133.00

Keefe Bruyette downgraded Ares Management from Outperform to Mkt Perform and set a new price target of $98.00 from $99.00 previously

Wells Fargo downgraded Ares Management from Overweight to Equal Weight and set a new price target of $93.00 from $99.00 previously

BMO Capital Markets downgraded Ares Management from Outperform to Market Perform and set a new price target of $93.00

Michael Smith and Mitch Goldstein Appointed as Co-Chairmen of Board of Directors Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that James ("Jim") R. Miller was appointed as Co-President to serve alongside current Co-President, Kort Schnabel. Concurrently, Ares Capital's Board of Directors was expanded by one member. Mitchell ("Mitch") Goldstein joined Ares Capital's Board of Directors, and Mitch Goldstein and Michael L. Smith have been appointed to serve as Co-Chairmen of Ares Capital's Board of Directors. Michael Arougheti will cease to serve as Chairman of Ares Capital's Board of Directors but will continue to serve as a Director. Kipp deVeer will continue in hi

Transaction Reinforces AIR's Presence in Europe and Enhances its Capabilities for Integration of Advanced Robotics into Automated Systems Vivian Farrell Promoted to President of Automated Industrial Robotics, Ireland Automated Industrial Robotics Inc. ("AIR" or the "Company") today announced the acquisition of Robotics & Drives ("RDS"), an Ireland-based industrial automation company focused on delivering innovative solutions through robotics technology. The transaction further reinforces AIR's presence in Europe, strengthens the Company's ability to integrate robotics solutions into its automated systems and adds to the product portfolio. The transaction was funded primarily by an additio

Move Expected to Enhance Collaboration Across Ares' Leading Credit Platform Aaron Rosen and Craig Snyder Named Co-Heads of Opportunistic Credit Ares Management Corporation (NYSE:ARES) today announced that its Special Opportunities strategy, currently a business within its Private Equity Group, will be joining the firm's Credit Group and will be named Opportunistic Credit. Moving the strategy to the Credit Group is expected to enable greater collaboration across the Ares platform, enhancing benefits to Ares' limited partners, sponsor partners and portfolio companies. The Opportunistic Credit team will build on the accomplishments of the Special Opportunities strategy and leverage the e

Ares Management Corporation (NYSE:ARES) ("Ares") announced today that Julie Solomon, Global Chief Operating Officer of Ares Real Estate, has been promoted to Co-Head of Real Estate alongside Bill Benjamin, current Head of Real Estate. Effective immediately, Ms. Solomon and Mr. Benjamin together will co-lead the Ares Real Estate business globally. Ms. Solomon joined Ares in 2013 and has been an invaluable leader on the Real Estate team throughout this time as a key contributor to the team's significant organic and inorganic growth. As Global Chief Operating Officer of Ares Real Estate, she has been instrumental in driving the growth and integration of the team's portfolio management functi

Ares Private Equity Fund Invests Substantial Equity Capital to Support AIR's Growth Strategy AIR Acquires TA Systems and Modular Automation Ares Management Corporation (NYSE:ARES) announced today the launch of Automated Industrial Robotics Inc. ("AIR" or the "Company"), a newly formed industrial automation company designed to capitalize on increasing global demand for manufacturing automation solutions. An Ares Private Equity fund ("Ares") has invested substantial equity capital to support AIR's acquisition and organic growth strategy. AIR is focused on acquiring and facilitating the growth of differentiated industrial automation companies serving diverse end markets with strong opera

Penni Roll to Step Down as Chief Financial Officer of Ares Capital Corporation Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that Ares Capital's Chief Accounting Officer, Vice President and Treasurer, Scott Lem, has been appointed as its new Chief Financial Officer, effective February 15, 2024. Mr. Lem succeeds Penni Roll, who plans to step down as Ares Capital's Chief Financial Officer, effective the same date. Ms. Roll, who also serves as the Chief Financial Officer of Ares Management Corporation's ("Ares") Credit Group, will remain an officer of Ares Capital and at Ares in a senior leadership capacity. Since joining Ares in 2003, Mr. Lem has served in a numb

Interstate Waste Services Completes Debt Recapitalization Littlejohn & Co. LLC ("Littlejohn"), a private investment firm based in Greenwich, CT, and Interstate Waste Services ("IWS" or the "Company") today announced that funds managed by the Private Equity Group of Ares Management Corporation (NYSE:ARES) have agreed to acquire a significant equity stake in IWS. Littlejohn and Ares funds will each have significant ownership stakes in the Company. Alongside the equity transaction, IWS also announced that it has completed a debt recapitalization with a new first-lien term loan via a JP Morgan-led arranger group. Terms of the transactions were not disclosed. Headquartered in Teaneck, New Je

Founding CEO Tom McAlpin to retire as CEO and transition to Chairman of the Board of Directors. President and CXO Nirmal Saverimuttu named CEO. MIAMI, Sept. 8, 2023 /PRNewswire/ -- Virgin Voyages (the "Company"), the multi, award-winning cruise brand from Richard Branson's Virgin Group, today announced it has closed on a $550 million capital raise to accelerate its growth plans. The funding round was led by funds managed by the Private Equity Group of Ares Management ("Ares"), a leading global alternative investment manager, and also includes additional capital from existing investors including Virgin Group and Bain Capital. The new funding raise will enable Virgin Voyages to strengthen its

Dwight Merriman, Partner and Head of Ares Industrial Management, named Chair of AIM, Co-Chair of Board of Directors of AIREIT and Chair of the Industrial IC Dave Fazekas, Partner and Chief Investment Officer of Ares Industrial Management, named Head of AIM and Co-President of AIREIT Ares Management Corporation (NYSE:ARES) ("Ares"), a leading global alternative investment manager, announced today that Dwight Merriman has been appointed as the Chair of Ares Industrial Management ("AIM"). In connection therewith, Mr. Merriman has been named the Co-Chair of the Board of Directors of Ares Industrial Real Estate Income Trust ("AIREIT"), alongside Bill Benjamin, Partner and Global Head of Ares R

Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that Jana Markowicz was appointed as its Chief Operating Officer (COO). In this newly created role, Ms. Markowicz will also serve as COO of Ares Management's ("Ares") U.S. Direct Lending strategy where she will collaborate with the U.S. Direct Lending Co-Heads and Investment Committee members in the management of the team and strategy. Ms. Markowicz joined Ares in 2005 as a member of the U.S. Direct Lending investment team, supporting in the negotiation and origination of private credit transactions. She has been instrumental in the growth of Ares' U.S. Direct Lending strategy, serving as Partner, Head of Product Manag