Ares Management
Encyclopedia
Ares Management LLC, an SEC registered investment adviser, is a leading investment firm focused on alternative credit-based strategies, including private equity
, private debt, and capital markets activities. Ares has principal offices located in Los Angeles, New York, London, Chicago, Dallas, Atlanta, Frankfurt, Paris, Stockholm, Hong Kong, Shanghai, and Washington D.C.
The Firm was established in 1997 by Antony Ressler and John H. Kissick, both partners at Apollo Global Management as well as Bennett Rosenthal, who joined the group from the global leveraged finance group at Merrill Lynch
. These founders, together with Michael Arougheti, Seth Brufsky, Rick Davis, David Kaplan, Greg Margolies, Daniel Nguyen, David Sachs, and Michael Weiner, comprise the senior management team and majority ownership of Ares. The senior management team averages over 20 years of experience in the leveraged finance markets and the entire senior management team is actively involved in the Firm’s asset management activities.
In May 2007, a minority interest
in the firm was acquired by a respected international institutional investor
. The investor is experienced in alternative asset classes and did not acquire any voting or governance rights via its investment.
Ares Management Limited, a subsidiary of Ares Management LLC, was established in 2006 as an expansion of the Ares business platform into Europe. As such, it is focused on Ares European capital markets operations. Ares Management Limited is authorized under the Financial Services Authority
(FSA) in the United Kingdom to provide certain investment advisory services.
Ares Capital Management LLC, a subsidiary of Ares Management LLC and an SEC-registered investment adviser, is the investment adviser to Ares Capital Corporation, a publicly traded closed-end, non-diversified specialty finance company that is regulated as a business development company, or a BDC, under the Investment Company Act of 1940 . Established in 2004, Ares Capital Corporation provides financing for middle market acquisitions, recapitalizations, and leveraged buyouts, mainly in the United States.
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
, private debt, and capital markets activities. Ares has principal offices located in Los Angeles, New York, London, Chicago, Dallas, Atlanta, Frankfurt, Paris, Stockholm, Hong Kong, Shanghai, and Washington D.C.
The Firm was established in 1997 by Antony Ressler and John H. Kissick, both partners at Apollo Global Management as well as Bennett Rosenthal, who joined the group from the global leveraged finance group at Merrill Lynch
Merrill Lynch
Merrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...
. These founders, together with Michael Arougheti, Seth Brufsky, Rick Davis, David Kaplan, Greg Margolies, Daniel Nguyen, David Sachs, and Michael Weiner, comprise the senior management team and majority ownership of Ares. The senior management team averages over 20 years of experience in the leveraged finance markets and the entire senior management team is actively involved in the Firm’s asset management activities.
In May 2007, a minority interest
Minority interest
Minority interest in business is an accounting concept that refers to the portion of a subsidiary corporation's stock that is not owned by the parent corporation...
in the firm was acquired by a respected international institutional investor
Institutional investor
Institutional investors are organizations which pool large sums of money and invest those sums in securities, real property and other investment assets...
. The investor is experienced in alternative asset classes and did not acquire any voting or governance rights via its investment.
Ares Management Limited, a subsidiary of Ares Management LLC, was established in 2006 as an expansion of the Ares business platform into Europe. As such, it is focused on Ares European capital markets operations. Ares Management Limited is authorized under the Financial Services Authority
Financial Services Authority
The Financial Services Authority is a quasi-judicial body responsible for the regulation of the financial services industry in the United Kingdom. Its board is appointed by the Treasury and the organisation is structured as a company limited by guarantee and owned by the UK government. Its main...
(FSA) in the United Kingdom to provide certain investment advisory services.
Ares Capital Management LLC, a subsidiary of Ares Management LLC and an SEC-registered investment adviser, is the investment adviser to Ares Capital Corporation, a publicly traded closed-end, non-diversified specialty finance company that is regulated as a business development company, or a BDC, under the Investment Company Act of 1940 . Established in 2004, Ares Capital Corporation provides financing for middle market acquisitions, recapitalizations, and leveraged buyouts, mainly in the United States.
Operations
Ares’ investment activities are conducted through three business platforms:- Ares Capital Markets Group, manages U.S. and European senior secured bank loans, high yield bonds, distressed debt, and other fixed income investments in a variety of funds and investment vehicles.
- Ares Private Debt Group, The Private Debt Group manages the assets of Ares Capital Corporation, Ares Capital Europe, and other funds and primarily invests in self-originated senior and mezzanine debt of middle market companies.
- Ares Private Equity Group, The Private Equity Group makes opportunistic majority or shared-control investments, principally in under-capitalized middle market companies.
External links
- Ares Management (company website)
- Ares Capital Corp (ARCC) (company website)
- www.adviserinfo.sec.gov