One of the reasons is we're one of the largest private credit managers 90% of our private credit exposures are floating rate. So I don't want to say that that's good. That was June, 2017. Thank you Michael Arougheti. The house at 2535 Shelter Avenue also sold for more than double its previous purchase price in 2020. 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. So we have some publicly traded credit companies, ARCC, ACRE, that largely manage floating rate assets. Thats when leadership is most rewarding. Mr. Arougheti received an undergraduate degree from Yale University. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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. Director, Co-Founder, Chief Executive Officer and President of Ares. View phone numbers, addresses, public records, background check reports and possible arrest records for Michael Arougheti. Ares Management, however, has been a beneficiary of the current environment. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. Michael is not an obviously emotional person, to the outside world. 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. They sold a total of 6,394,959 shares worth more than $255,128,106.92. And Michael Arougheti, was all of that. I LOVE this series!! Kudos to Ares. what I remember from interviewing Michael on a panel years ago is his razor sharp intelligence! On average, Michael trades about 111,368 units every 78 days since 2006. 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. Enter your email address below to get our daily insider buying and selling report. So that was the good news. Sticker shock: Ranking South Floridas priciest residential rentals, Here are Chicago's top 10 construction permits issued in May. 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. 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. 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. 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 Credit is crowded PE firms including the Blackstone Group (NYSE: BX), KKR, the Carlyle Group (Nasdaq: CG) and Apollo (NYSE: APO) have all grown their credit business substantially . hopefully Ares can be big but also keep it real. From there, its really going to be a function of what incremental fiscal and monetary stimulus exists. So one of the ways we can express a view on the market is by not investing. 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. 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. by John Hope Bryant | Feb 28, 2022 | Bryant on Leaders and Leadership, John Hope Bryant Authored, Operation HOPE. Whitepages people search is the most trusted directory. Ares Management Corporation (NYSE:NYSE:ARES) Q3 2021 Earnings Conference Call October 27, 2021 12:00 PM ETCompany ParticipantsCarl Drake - Head, Public Company, IRMichael Arougheti -. Arougheti: Well, this is like something we haven't seen before. This tale of two cities is going to be the framework to think about the recovery. So, Ares, I think we've been fortunate that we're outperforming not just the public asset management peers, but the markets generally. It absolutely starts with the health crisis and the speed with which we get people inoculated. 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. But today, I wanted to give just that credit. Michael didnt stop there. 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. Inflation? 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. 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. My experience would tell you that that's usually a six to 12 month process, that has to take into account a shared view of what the economy is going to look like, and take into account what the new financing markets look like. Treating me, like I was his own. CINCINNATI (WXIX) - Former Notre Dame All-American tight . When you look at the economy, its a tale of two cities. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. Michael Arougheti is 47, he's been the President, Chief Executive Officer, Co-Founder, and Director of Ares Management Corp since 2018. They did it, because thats simply who they are. Mr. Arougheti owns over 9,400 units of Ares Management Corp stock worth over $37,633,080 and over the last 16 years he sold ARES stock worth over $185,033,029. When you talk about belonging, youre talking about being able to bring your authentic self to work. And if so, do you think that the markets are already pricing that in? And so we're also seeing increasing demand for things like real assets and private equity. 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. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. "All of the work that weve been doing around diversity, inclusion, belonging, ESG that accelerated because, while the pandemic is global, it exposed inequities in the economy and in our society that created lots of other reverberations in the business." This button displays the currently selected search type. So given all that, and given just where you see opportunity, are there certain sectors that you're putting more capital to work, say, than others, just given kind of the macro backdrop you just outlined? So, how do we get out of crisis mode by getting people back into the office and driving the business forward? All that being said, you also have to be measured in the way that you deploy through a cycle. Whats interesting about this environment is that we had to pivot from growth opportunity in our business to real crisis management, and now we find ourselves in this in-between place were still in the middle of a crisis, but the business is not projecting itself that way. and I will never, forget that that conviction, of one Michael Arougheti. For me. 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. Michael J. Arougheti serves as President, Chief Executive Officer, Co-Founder, Director of the Company. A beginning. Together, we built The Promise Homes Company into the largest Black controlled owner of singles family residential rental homes in the country, with $150 million in assets. Musk Made a Mess at Twitter. 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. Together, personally, they both became the financial backers for the founding of my Promise Homes Company dream. 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. I have worked with Ares over the years (and some of their predecessors), and invariably, the interactions have been very professional and thoughtful. I think that's a reflection of the nature of our business. in Ethics, Politics and Economics, cum laude, from Yale University. Direct Lending Investment Committee and the Ares Equity Income Opportunity Strategy Portfolio Review Committee. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. He is so busy doing, executing on his beliefs, that he makes little to no noise of or about himself, as he cuts through the challenges before him. And I think that's true for the publicly traded markets as well. The Frankels paid $14.4 million for the spec Miami Beach mansion in August 2020, and just sold it at a 120 percent markup. It required thinking a lot more holistically. Miami-based House of One designed the interiors. Thats the good news and the bad news. Sign up for free newsletters and get more CNBC delivered to your inbox. With hundreds of billions of dollars worth of floating rate credit and real assets, the firm's $200B book has surprisingly held up well. Got a confidential news tip? 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Its accelerated, the participation is broader, and added to that is a heightened sense of urgency. What makes us and any organization special is culture. 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. In this role, Ive had to think more holistically about where the business is going. The Sunset Islands have emerged as a top neighborhood in Miami Beach, especially amid the pandemic. All of the work that weve been doing around diversity, inclusion, belonging, ESG that accelerated because, while the pandemic is global, it exposed inequities in the economy and in our society that created lots of other reverberations in the business. 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 . 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. 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. 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 they've got, you know, the increased challenge of the energy crisis and the strong dollar exacerbating the inflation picture for them. 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. Direct Lending and Pathfinder Investment Committees, the Ares Equity Income Opportunity Strategy Portfolio Review Committee and the Ares Sports, Media and Entertainment Investment Committee. Are you still seeing that as active? 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. Michael J Arougheti is the Co-Founder, CEO and President of Ares Management Corp and owns about 1,601,605 shares of Ares Management Corp (ARES) stock worth over $137 Million.Michael J Arougheti is the Executive Vice President of Ares Capital Corp and owns about 1,782,709 shares of Ares Capital . The most active insiders traders include Michael J Arougheti, Antony P Ressler, and Bennett Rosenthal. You take different risks along different time frames. So when the markets get challenged, that's when our investment opportunity becomes the most attractive. 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. But there are echoes of the past. And let me just say this it was meaningful. 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. Mr. Arougheti received a B.A. Arougheti: Yes and no. 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. One of the things that Ive said to my partners here is to think of Ares as a growth company in a growth industry. He helped me assemble a team, and he introduced me to the language and structure and approach that I would need to implement, to make this new venture successful. Michael Arougheti took the reins of alternative-asset manager Ares Management on Jan. 1, 2018. The oldest executive at Ares Management Corp is Paul Joubert, 72, who is the Independent Director. And to oversimplify what's a complex series of global flows, it really comes down to a global desire for durable yield. A gentle soul and bright spirit left us on Feb. 13 when Michael "Mike" Moulds, age 73, of Pierson, Michigan, passed away unexpectedly. Michael J. Arougheti has not been actively trading shares of Ares Management during the past quarter. We wouldn't blame Ares Management Corporation (NYSE:ARES) shareholders if they were a little worried about the fact that Michael Arougheti, the Co-Founder recently netted about US$15m selling . What makes our culture special is that its deeply rooted in partnership, in entrepreneurialism, in growth mindset. It was designed by Domo Architecture + Design and includes a guest house, cabana and pool. Data is a real-time snapshot *Data is delayed at least 15 minutes. And then it will, it will pick back up again. Convicted. I think the good news is its very consistent with my own personal world view. Theres always this debate about whats more important, culture or strategy. We obviously navigated the pandemic with a significant amount of government and central bank intervention. You dont hear people talking about asset-management firms in that light.