So there are a lot of structural competitive advantages that we have as an alt manager, one of the largest is just the structure of our funds. It's also a reflection, I think of the investors understanding that embedded value that sits in our private credit portfolios. A gentle soul and bright spirit left us on Feb. 13 when Michael "Mike" Moulds, age 73, of Pierson, Michigan, passed away unexpectedly. 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. Ares Management co-founder and CEO Michael. Its been such an interesting year because in so many ways, it was probably one of the most challenging of my career. But today, as we sit here, there's a particularly interesting set of crosscurrents, that's now starting to see a divergence of opportunity around the globe. Ares Management CEO Michael Arougheti breaks down where to find yield in a world of uncertainty DA on CNBCEvents.com Sponsors Previous Years Delivering Alpha Ares Management CEO Michael. The largest trade he's ever made was exercising 666,667 units of Ares Management Corp stock on 4 December 2020 worth over $54,453,361. Because of what you did to help elevate me and my dreams, with Operation HOPE, and then later with the Promise Homes Company, you too get celebrated as a part of Black History Month. Inflation? So if there is a silver lining to all the challenges globally, right now, we're going into this period of volatility with real strong underpinnings. That was June, 2017. But now there are things like take privates that are being talked about, again, where we're now mining flow in the public market, or rescue financing as some of the distressed strategies that we operate in are starting to be a liquidity provider, given that the liquid markets are effectively closed right now. I was surprised at how quickly people could transition to working remotely. I think that if you talk to any leader of an organization, they would tell you that no matter how experienced they were or well prepared for every eventuality, nobody is really prepared for a global pandemic and all of the things that come with it. And that was no accident either. It absolutely starts with the health crisis and the speed with which we get people inoculated. In addition, he makes $12,665,700 as President, Chief Executive Officer, Co-Founder, and Director at Ares Management Corp. Michael has made over 55 trades of the Ares Management Corp stock since 2008, according to the Form 4 filled with the SEC. A Division of NBCUniversal. Sign up for free newsletters and get more CNBC delivered to your inbox. And it's moving around a little bit, right. now if I can only get you to co-write my current one. Michael Arougheti A Co-Founder, Director, Chief Executive Officer & President at Ares Management Mr. Arougheti is Co-Founder, Chief Executive Officer and President, as well as a Director of Ares Management Corporation. You dont hear people talking about asset-management firms in that light. 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 . A dream planted, but not much more. So if you look at the positioning of most portfolios, they were, if not fully invested in moving towards full investment, and enjoyed great performance in 2021. There are 6 executives at Ares Management Corp getting paid more, with David B. Kaplan having the highest compensation of $54,974,317. And therefore you're not going to see as much transaction volume as people manage their liquidity. omg. It was designed by Domo Architecture + Design and includes a guest house, cabana and pool. I think Ive become a more patient leader. Of having a willingness to try new things. Learn More on Ares Management's active insiders. Thank you Michael Arougheti. Three. Learn More about insider trades at Ares Management. Ares Management co-founder and CEO Michael Arougheti bought the property, records show. 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 joined RBC in October 2001 from Indosuez Capital, where he was a Principal and an Investment Committee member, responsible for originating, structuring and executing leveraged transactions across a broad range of products and asset classes. Join now Sign in . 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. Mr. Arougheti received an undergraduate degree from Yale University. Arougheti:So what it really means is one of the ways to think about this credit cycle, or this potential recessionary environment in the US is that it may likely be sector specific. in Ethics, Politics and Economics, cum laude, from Yale University. Its very rewarding. Picker: What about on the supply side of the equation? 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. Whats been rewarding for me is that we have spent so much time over the years building culture here around our core attributes of collaboration and social responsibility and entrepreneurialism. Arougheti:I think, for traditional private equity for many it likely will be. ", (The below has been edited for length and clarity. All Rights Reserved. Michael Arougheti is 47, he's been the President, Chief Executive Officer, Co-Founder, and Director of Ares Management Corp since 2018. Ive come to learn that there are certain times when you have to lead from out in front, driving the business forward by leading the charge. What makes us and any organization special is culture. Picker: As you digest all of that, do you think it's possible to avoid a hard landing? Convicted. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. Director, Co-Founder, Chief Executive Officer and President of Ares. Whats unique about where we are now is I cant remember a cycle where weve had such a balance in healthy-company opportunity and distressed opportunity. Private investment firms driven by credit, focusing more on the balance sheet than the story, tend to operate in a less docile manner - less often on boards, less often delivering the CEO, less often sensitive to the sustainability of the legacy or even equity value. But today, I wanted to give just that credit. So if you look over the last 20 years, we're seeing a meaningful increase in allocations on the part of institutional and retail investors to alternatives. 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. Create a free family tree for yourself or for Michael Arougheti and we'll search for valuable new . Theres always this debate about whats more important, culture or strategy. what I remember from interviewing Michael on a panel years ago is his razor sharp intelligence! One of the reasons is we're one of the largest private credit managers 90% of our private credit exposures are floating rate. There are no ways to adequately describe a man with conviction. 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. And there are certain times when you have to lead from the back, letting others step up to drive the organization forward while you push it along and clean things up from the back. Information on this page was last updated on 2/15/2023. Most recently, Michael J. Arougheti sold 2,983 shares of the business's stock in a transaction on Thursday, November 10th. Mr. Arougheti also serves on the boards of directors of Operation HOPE, a not-for profit organization focused on expanding economic opportunity in underserved communities through economic education and empowerment. And he did. A non-waterfront home on Sunset Island II recently traded for $12.5 million, setting a record for dry sales in all of Miami Beach. A key support beam. 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. And without betraying their confidences, let me just say that what Michael and Nelly did for HOPE, and at the time they did it, was extraordinary. Ares Management Corp executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Ressler, an Ares . And to oversimplify what's a complex series of global flows, it really comes down to a global desire for durable yield. Would you say that's coming back then? Mr. Arougheti joined Royal Bank of Canada in October 2001 from Indosuez Capital, where he was a Principal and an Investment Committee member, responsible for originating, structuring and executing leveraged transactions across a broad range of products and asset classes. and I will never, forget that that conviction, of one Michael Arougheti. Ares Management co-founders Tony Ressler and Michael Arougheti provided founding investments and served on the company's investment committee until last year. So that in and of itself is not surprising. So we actually tend to see a consolidation of share and maybe counterintuitive and acceleration of capital that comes onto our platform to help navigate. The . President of Ares at the time, he stood alone, observing the partygoers, content being a fly on the wall. The Private Equity Group segment manages shared control investments in corporate private equity funds. 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. So, there are big parts of our corporate-opportunities and distressed and special-situations businesses that are very busy in those more stressed parts of the market. Mr. Arougheti also is a member of the Ares Credit Group's U.S. The Sharpe Angle: Ares Management CEO Michael Arougheti says this macro environment is 'like something we haven't seen before' Inflation, a hawkish Fed and fears of a recession have all made. 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. This button displays the currently selected search type. The reason I say 'no' is we've, despite the pandemic, we've had so much stimulus come into the market that people have had time to prepare. So we're giving a little bit back in the private flow. My sense is that in this new administration, we will see more. Leslie Picker:How long do you think these tailwinds for your business will last? So if you look at our $340 billion of assets, over $90 billion of it is unvested. Whitepages people search is the most trusted directory. Currently, Mr. Arougheti is Co-Chairman of Ares Acquisition Corp., President, Chief Executive Officer & Director at . They are most only concerned with the outcome, not the credit. Mike Arougheti, Ares Management LLC: Profile and Biography - Bloomberg Markets Live Now Bloomberg TV+ Bloomberg Markets The Close Romaine Bostick breaks down the day's top stories and trading. Will His AI Plans Be Any Different? But all of our leaders learned to support their people by opening their own lives up to them. Fortunately weve got enough stimulus that weve now kind of stabilized and bridged. He additionally serves as Co-Chairman of Ares Capital Corporation (NASDAQ: ARCC) (ARCC) and as a director of Ares Commercial Real Estate Corporation (NYSE: ACRE) (ACRE). So, there was something about the shift to remote work that I think broke down some of those barriers and forced people to open their lives up a little bit more to their colleagues. Over the last 9 years, insiders at Ares Management Corp have traded over $747,414,700 worth of Ares Management Corp stock and bought 550,746 units worth $8,027,035 People, of deep convictions.
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