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Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. in Ethics, Politics and Economics, cum laude, from Yale University. One of the things that Ive said to my partners here is to think of Ares as a growth company in a growth industry. 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. So Michael and his super talented author,wife Nelly (Bly) decided to do it personally, themselves. Join now Sign in . Mr. Arougheti oversaw an investment team that originated, managed and monitored a diverse portfolio of middle-market leveraged loans, senior and junior subordinated debt, preferred equity and common stock and warrants on behalf of RBC and other third-party institutional investors. 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"). Arougheti:Yeah, we're already seeing the pipeline start to build into the end of the year. And I also think that some of the large public platforms similarly continue to raise money. Will His AI Plans Be Any Different? The oldest executive at Ares Management Corp is Paul Joubert, 72, who is the Independent Director. But most of our portfolio managers and investors are investing at a slower pace than they normally would as they wait to see how these markets develop. What I continue to learn every time I delegate and trust, every time we give somebody a part of the business to run and hold accountable for success, is it just turbocharges the growth here. And it's hard to generalize about a market that's trillions of dollars deep and, and is global, I would say the following, private equity enjoyed a wonderful rebound coming out of COVID. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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. 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. A dream planted, but not much more. Mr. Arougheti received a B.A. Picker: It's shifting. Learn More about Michael J. Arougheti's net worth. All of the cultural initiatives that we were executing on accelerated. I think that, for those of us who embraced it, it created a level of trust, of empathy, of relatability. Where we are now, were deploying actively in almost every strategy across the firm because of this bifurcation. 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. The case was due on Jan. 7, meaning the division had to . Following the completion of the sale, the chief executive officer now directly owns 470,138 shares of the company's stock, valued at $39,971,132.76. They made a major commitment to the work of my life, but they did it without fanfare, without press release, and without any desire for their own recognition. SAN LORENZO, Calif. - Michael "Mike" Simon, 61, passed away peacefully on Feb. 23, 2023 with family by his side, after a year-long fight with brain cancer. Mr. Arougheti owns 470,138 shares of Ares Management stock worth more than $39,077,871 as of March 4th. How is that easier than to digest? Recent buyers of multimillion-dollar homes in South Florida, including Miami Beach and Palm Beach, have been able to flip their properties for big profits due to heightened demand. I think that capital will get raised, I think it will just take a little bit longer. As I was preparing to take the job, this friend reminded me of the Maya Angelou quote, People will forget what you said, people will forget what you did, but people will never forget how you made them feel. I think that is so poignant as a leader. 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The Credit Group provides solutions for traditional fixed income investors seeking to access the syndicated bank loan and high yield bond markets and capitalize on opportunities across traded corporate credit. You had a picture of it!!! 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. Ares Management's global platform had $149 billion of assets under management as of March 31, 2020 with more than 1,200 employees in over 20 offices in more than 10 countries. If you look at institutional allocations to alternatives, they are predicted to double likely over the next five to 10 years at a compound annual growth rate of about 15%. Thank you Michael Arougheti. Below are excerpts from our recent conversation. The HOPE Community Credit Score Index A Closer Look at the Twin Identities of Washington, DC. After catching up for an hour recently, tackling a slew of questions and meaty subjects, Mike Arougheti had a question for me. And then he met with me weekly, for close to four years, making himself fully available to my dream, treating it like it was his own. We want to hear from you. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. Ive found in my career that the leaders Ive respected most were people who knew how to lead different types of people in different ways. Welcome toHuman Capital, an open exploration of the ideas and people moving financial services forward. Direct Lending Investment Committee and the Ares Equity Income Opportunity Strategy Portfolio Review Committee. Sign up for free newsletters and get more CNBC delivered to your inbox. And then they did it again, one day at one of our HOPE Global Forum, watching a pitch competition of young Black and Brown business owners in the making. What does that mean for margins and kind of the stickiness of these high prices? Michael Arougheti Mr. Arougheti is a Co-Founder of Ares and has served as a Director and the President of Ares Management since 2014. Inflation, a hawkish Fed, fears of a recession have all made 2022 a tough environment for investing. 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"). Its a pretty unique set of circumstances. If the market is healthy, you can pivot to some of the more regular-way buyout and credit investing. Michael's mailing address filed with the SEC is 2000 AVENUE OF THE STARS, 12TH FLOOR, LOS ANGELES, CA, 90067. Dismiss. This net worth estimate does not reflect any other investments that Mr. Arougheti may own. A beginning. Kudos to Ares. Michael and I met casually, but our bond as brothers and friends, early on, was anything but casual. CNBC's Delivering Alpha newsletter sat down with Ares CEO Michael Arougheti who says that "when the markets get challenged, that's when our investment opportunity becomes the most attractive. 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. Picker:So given all of this Ares' stock price is basically flat on the year which is outperforming the S&P, it's outperforming your peers, but still flat. And let me just say this it was meaningful. And I think one of the key jobs that we have at Ares is to mine our historical experience and recognize patterns. We obviously navigated the pandemic with a significant amount of government and central bank intervention. So if you look at our $340 billion of assets, over $90 billion of it is unvested. Arougheti: Well, this is like something we haven't seen before. This chart shows Michael J Arougheti's buying and selling at Ares Management by year and by quarter. So, what feels different now versus where we were pre-pandemic is theres a sense not just of urgency, but accountability up and down the chain. I think what we do well is we tend to avoid big mistakes. I think Ive always intuitively known that, but Ive gotten more opportunities to test it. But every time I speak with my friend Tony Ressler, I also feel and see the heart of Michael Arougheti, because Michael introduced me to Tony. So, Ares, I think we've been fortunate that we're outperforming not just the public asset management peers, but the markets generally. So I've been encouraged by that from an activity and deployment level. And I will never forget it. So we have some publicly traded credit companies, ARCC, ACRE, that largely manage floating rate assets. 1635 West 22nd Street (Michael Ruiz with LPG). 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. 2023 CNBC LLC. Ares Management Corporation is a leading global alternative investment manager operating three integrated businesses across Credit, Private Equity and Real Estate. It's also a reflection, I think of the investors understanding that embedded value that sits in our private credit portfolios. Sign up for free newsletters and get more CNBC delivered to your inbox. I couldn't agree more and we are seeing this in the field. It absolutely starts with the health crisis and the speed with which we get people inoculated. Mr. Michael J. Arougheti is a Senior Advisor at Volery Capital Partners LLC, a President, Chief Executive Officer & Director at Ares Management Corp., a Co-Chairman & Executive Vice President. It required thinking a lot more holistically. The Frankels paid $14.4 million for the spec Miami Beach mansion in August 2020, and just sold it at a 120 percent markup. Get this delivered to your inbox, and more info about our products and services. And that's pretty attractive to most investors right now. For me. 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. 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. Picker: So how would you characterize the credit quality within your portfolio right now? Trusted information source for millions of people worldwide . 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. 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. This button displays the currently selected search type. So if all we do is continue to invest at the top end of a company's capital structure, or lend against a real asset, with rates going up the way that they are, there's significant embedded profit potential. Similarly, our clients the folks who allocate capital to us are holding us accountable for change. You dont hear people talking about asset-management firms in that light. In the last twelve months, insiders at the asset manager sold shares 15 times. Love and authenticity tends to have that effect on people. When the markets are so uncertain. Id like to think that Ive become more strategic in my thinking, as opposed to just tactical around parts of the business. Not just because people were remote, but because youre also in a much different headspace, balancing home and family and kids. Inflation, a hawkish Fed and fears of a recession have all made 2022 a tough environment for investing. He was elected Congressman three times and is a leading figure in the civil rights movement. Frankel and his wife, Barbara, sold their two-story, 8,500-square-foot home at 1635 West 22nd Street on the Sunset Islands for $31.5 million. When you look at the economy, its a tale of two cities. Arougheti: Yes and no. The simple reason for that is you have this bifurcation in the economy and within the consumer, and it will show up in different places as we continue to recover from this. This button displays the currently selected search type. Mehdi Bolour faces 25 criminal charges over illegally rented Hollywood building, Prince Harry, Meghan Markle asked to leave U.K. home, Real estate investor pleads guilty to stealing $3M, Massive unbuilt Arizona estate asks record $75M, Amazon hits brakes on construction of second headquarters. Frankel is also a real estate investor and owner of wineries and restaurants. President of Ares at the time, he stood alone, observing the partygoers, content being a fly on the wall. Michael didnt stop there. What makes us and any organization special is culture. Sometimes all you can do is throw them a life jacket and say swim as hard as you can !. ". Mr. Arougheti oversaw an investment team that originated, managed and monitored a diverse portfolio of middle-market leveraged loans, senior and junior subordinated debt, preferred equity and common stock and warrants on behalf of RBC and other third-party institutional investors. Arougheti: For us and others that look like us, it's been as good as we've seen in quite some time. . Ares Management's investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Ares Management's insider roster includes Michael Arougheti (CEO), Antoinette Bush (Director), R. Deveer (Insider), David Kaplan (Insider), Michael McFerran (CFO), Antony Ressler (Chairman), Bennett Rosenthal (Insider), and Aghili Sagati (General Counsel). There are no ways to adequately describe a man with conviction. Arougheti: Yes, and no. Mr. Arougheti owns 470,138 shares of Ares Management stock worth more than $39,200,106 as of February 9th. The move comes as Ares business becomes more complex and larger with $106bn assets under management in real estate, private equity and . And we're now seeing the retail investor really take hold as well. And when I launched my dream for The Promise Homes Company, there was Michael Arougheti once again, making the first real commitment to our start-up dream. But the pandemic, as well as the events of the summer around the killing of George Floyd that gave us an opportunity, and an imperative, to double our investment in these initiatives. This tale of two cities is going to be the framework to think about the recovery. They purchased a total of 8,706,492 shares worth more than $85,604,376.84. Treating me, like I was his own. by John Hope Bryant | Feb 28, 2022 | Bryant on Leaders and Leadership, John Hope Bryant Authored, Operation HOPE. The estimated net worth of Michael J. Arougheti is at least $39.20 million as of November 10th, 2022. 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. (Source: Bloomberg) How do you preserve that at scale? He is a member of the Ares Executive Management Committee and the firm's. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. And then it will, it will pick back up again. This button displays the currently selected search type. Arougheti: It's slowing, anytime the market goes through this type of a transition or a reset, transaction volumes will naturally slow in the private market. Michael Arougheti is 47, he's been the President, Chief Executive Officer, Co-Founder, and Director of Ares Management Corp since 2018. They did this three times. 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.