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A lot of people talk about this idea that crises accelerate trends that are already in place, and I agree with that. And call on him, I did often. Director, Co-Founder, Chief Executive Officer and President of Ares. I think what was true for a lot of organizations was folks believed in the importance of DE&I and ESG, they were passionate about it, but organizationally it had not become a top priority. Michael Arougheti Mr. Arougheti is a Co-Founder of Ares and has served as a Director and the President of Ares Management since 2014. They did this three times. Data is a real-time snapshot *Data is delayed at least 15 minutes. We have pools of capital that are designed to provide liquidity where other means of liquidity are not working. And thanks to that early vote of confidence, and the early stage founding capital from Michael Arougheti and Tony Ressler in early 2017, last late last year, in December, 2021, the company itself standing on its own now secured its own $200 million credit facility: Now reportedly the largest capital raise for a Black owned company in a decade, according to Black Enterprise. Youre effectively purpose-built to navigate this type of environment, where if the market is stressed, you can pivot to distressed investing, whether thats portfolios or single assets. I tried my best to help him with his endeavors and dreams, and he (and his wife Nelly Bly) certainly leaned into mine. Mr. Arougheti also serves on the board of directors of Operation HOPE, a not-for-profit organization focused on expanding economic opportunity in underserved communities through education and empowerment. And the thing is, they did it so casually. So there's a lot to digest. Click Subscribe above to be notified of future editions. That was June, 2017. I remember clearly, the many times I pushed him to have the company he led, Ares Management, to support Operation HOPE, but the timing back then was not right. We want to hear from you. When you manage an organization through crisis, you learn a lot about yourself, but you also learn a lot about the organization that supports you. And then there are big parts of our business that are investing in health care and technology and single-family residential and all of the things that are doing well. Got a confidential news tip? Mayer is widely considered among the best available at his position. Insiders at Ares Management own 47.4% of the company. The company was founded by Michael J. Arougheti, David B. Kaplan, John H. Kissick, Antony P. Ressler, and Bennett Rosent. Ares Management's investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Learn More about insider trades at Ares Management. He is a member of the Ares Executive Management Committee, the Ares Enterprise Risk Committee and is on the Board of Directors of the Ares Charitable Foundation. And I will never forget it. I think they've got, you know, the increased challenge of the energy crisis and the strong dollar exacerbating the inflation picture for them. Tue, Mar . He is a member of the Ares Executive Management Committee and the firm's. So one of the ways we can express a view on the market is by not investing. That was probably the biggest challenge for me in those early days, leveraging the things that we had built, but leading in a new way. Mr. Arougheti received an undergraduate degree from Yale University. So when the markets get challenged, that's when our investment opportunity becomes the most attractive. Ares is no stranger to the single-family rental market; it joined Pretium Partners in a $2.4B joint-venture purchase of Front Yard Residential Corp. which closed in 2021. The house at 2535 Shelter Avenue also sold for more than double its previous purchase price in 2020. You take different risks along different time frames. The Private Equity Group segment manages shared control investments in corporate private equity funds. Among leaders of the major alternative-asset managers think Blackstone, Apollo, Carlyle, KKR Arougheti is the understated, cerebral CEO. In the last twelve months, insiders at the asset manager sold shares 15 times. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. The investment management firm has about $325 billion of assets under management, according to its website. Veritas $450M loan default: A sign of things to come? He bought the property for $9.3 million and sold it to the next door neighbor for $14 million. what I remember from interviewing Michael on a panel years ago is his razor sharp intelligence! Arougheti:I think, in the US market, we still have a shot, I think the Fed is on the task, if you look at the strength of the market, and this what makes it particularly challenging to invest in, all of the data that we see, up until this point in our significant private portfolios, we tell you that the economy is still quite strong, corporate balance sheets are well positioned, the consumer is still relatively underleveraged. So, how do we get out of crisis mode by getting people back into the office and driving the business forward? That's not necessarily true for traditional 60/40 portfolios, when you have money, you have to express a view on what you think is the best opportunity in the market. Mr. Arougheti also is a member of the Ares Credit Groups U.S. Some people struggled figuring out how to be in that environment. The corporate mailing address for Mr. Arougheti and other Ares Management executives is 2000 AVE OF THE STARS 12TH FLOOR, LOS ANGELES CA, 90067. And one small company is building them for the Pentagon! A beginning. TE Michael Mayer says he wants to win a Super Bowl with the Bengals. Michael Arougheti:I think we have to talk about secular tailwinds in alternatives, and then maybe some of the cyclical tailwinds that we're seeing as well. The Real Estate Group segment provides debt, mortgage loans, and equity capital to borrowers, property owners, and real estate developers. Kudos to Ares. Last month, Reed Smith attorney Constantine Karides paid $17.3 million for a waterfront home on Sunset Island I. in Ethics, Politics and Economics, cum laude, from Yale University. And then the friendship came. You dont hear people talking about asset-management firms in that light. That comes with a broader view into different parts of the world and different parts of the organization. We're not having that experience. View phone numbers, addresses, public records, background check reports and possible arrest records for Michael Arougheti. I was doing the same, so we struck up a conversation. Prior to joining Indosuez in 1994, Mr. Arougheti worked at Kidder, Peabody & Co., where he was a member of the firm's Mergers and Acquisitions Group. I think the good news is its very consistent with my own personal world view. They are most only concerned with the outcome, not the credit. Together, personally, they both became the financial backers for the founding of my Promise Homes Company dream. Prior to joining Ares in 2004, Mr. Arougheti was employed by Royal Bank of Canada from 2001 to 2004, where he was a Managing Partner of the Principal Finance Group of RBC Capital Partners and a member of the firm's Mezzanine Investment Committee. He is a member of the Ares Executive Management Committee and the firms Management Committee. Thats the good news and the bad news. Michael J. Arougheti has not been actively trading shares of Ares Management during the past quarter. Todd Michael Glaser and Rony Seikaly developed the Sunset Island IV mansion and sold it to the Frankels. ARES DYNAMIC CREDIT ALLOCATION FUND, INC. Transcript : Ares Management Corporation Presents at The Bank of America Securities 2023 Financial Services Conference, Feb-16-2023 09:40 AM, Transcript : Ares Management Corporation, Q4 2022 Earnings Call, Feb 09, 2023, Bloomberg Video: Sizing up the Private Credit Market, Transcript : Ares Management Corporation, Q3 2022 Earnings Call, Oct 27, 2022, Transcript : Ares Management Corporation Presents at Barclays Global Financial Services Conference, Sep-13-2022 12:00 PM, Transcript : Ares Management Corporation, Q2 2022 Earnings Call, Jul 28, 2022, Transcript : Ares Management Corporation Presents at Bernstein 38th Annual Strategic Decisions Conference, Jun-02-2022 02:30 PM, President, Chief Executive Officer & Director, Ares Commercial Real Estate Management LLC, Director, Co-Founder & Chief Executive Officer, Program for Appropriate Technology in Health. -0.38 -0.45%. Back to the comment I made about the crisis accelerating trends already in place, we had already been deep into our journey around ESG and diversity, equity, and inclusion. Liquidity pumped into the credit markets during the pandemic could stave off a spike in defaults for several years, Ares Management Corp. Chief Executive Officer Michael . One of the things that Ive said to my partners here is to think of Ares as a growth company in a growth industry. A key support beam. And, myself included, that can often be very hard to do you tend to create boundaries between your work self and your home self. What Im hoping is that we can continue to have that mindset as we scale. And we're now seeing the retail investor really take hold as well. And kind. Got a confidential news tip? Mr. Arougheti received a B.A. So, the places where you would be seeing the most distress, we just dont have that much of it. Hes sort of a walking brain, and I am pretty sure he has a genius IQ. What we found was that we had an employee base that was already incredibly passionate about progress along those initiatives, and over the course of the past year it has grown exponentially. Michael Arougheti took the reins of alternative-asset manager Ares Management on Jan. 1, 2018. Thats not how leadership is classically trained. Yes, I did the work, and I did a great deal of the building, but everything has a start. He additionally serves as Co-Chairman of Ares Capital Corporation ("ARCC"), Co-Chairman of Ares Acquisition Corporation ("AAC") and as a director of Ares Commercial Real Estate Corporation ("ACRE"). UPDATED, May 10, 12:20 p.m.: Tampa Bay Rays co-owner Randy Frankel more than doubled his money with the sale of his waterfront Miami Beach mansion. You cant execute well on a good strategy if you dont have a strong culture, and you cant rally people around core values and a cultural imperative if you dont have the strategic vision for who you are and who the company is. So we're going in with more health than we typically would have when we're talking about recession risk, the order of magnitude that some people are anxious about. Picker: It's shifting. This tale of two cities is going to be the framework to think about the recovery. Theres a conversation I had with a very close friend that still sticks with me. So the way that we're approaching it is we're obviously looking for what we think is the best risk adjusted return globally. Such a comment is admirable, and reflects a more mindful leadership. The Frankels paid $14.4 million for the spec Miami Beach mansion in August 2020, and just sold it at a 120 percent markup. Moulds, Michael 12/27/1949 2/13/2023 Pierson, Michigan. They sold a total of 6,394,959 shares worth more than $255,128,106.92. Prior to joining Ares in 2004, Mr. Arougheti was employed by Royal Bank of Canada ("RBC") from 2001 to 2004, where he was a Managing Partner of the Principal Finance Group of RBC Capital Partners and a member of the firm's Mezzanine Investment Committee. That happens when you surround yourself with the best people, trust them, and lead alongside them neither from the front nor the back. Thats why I think that the opportunity to lead in this type of a crisis, as difficult as it is, is really a unique opportunity for anybody. Ares Management LP said Dec. 18 that Michael J Arougheti, co-founder and president, was named CEO effective Jan. 1, replacing Tony Ressler who will continue as executive chairman. 1635 West 22nd Street (Michael Ruiz with LPG). But all of our leaders learned to support their people by opening their own lives up to them. The challenge right now is in 2022, given how well the portfolio's performed and how deployed, they were given the significant amount of volume in 2021, the market now is digesting the need for more capital against the backdrop of a lack of capital. Mr. Arougheti owns 470,138 shares of Ares Management stock worth more than $39,077,871 as of March 4th.