Ares is an investor in David Beckhams Inter Miami CF, the Major League Soccer team and the venture that plans to develop a major mixed-use soccer complex in Miami. Learn More on Ares Management's active insiders. 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. I think that capital will get raised, I think it will just take a little bit longer. And the thing is, they did it so casually. Will His AI Plans Be Any Different? Trusted by millions of genealogists since 2003. Thank you!! All of the cultural initiatives that we were executing on accelerated. What about the companies that are seeking that type of financing? There is a big difference between June and September in terms of a reopening and increased mobility. You see, these men of conviction are different. 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. Ares Management co-founder and CEO Michael. Michael Arougheti is 47, he's been the President, Chief Executive Officer, Co-Founder, and Director of Ares Management Corp since 2018. And it's moving around a little bit, right. And I will never forget it. I don't think that will end anytime soon. What Im hoping is that we can continue to have that mindset as we scale. He bought the property for $9.3 million and sold it to the next door neighbor for $14 million. They didnt just fill the air with kind platitudes, they filled our bank account with the very resources we needed to go from surviving to thriving, to winning. So when you're in an environment now, where the cost of financing is going up, maybe the availability of financing is going down, and rates are rising, putting pressure on discount rates, the markets will pause to try to evaluate where assets will clear. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. Great interview and loved the throwback articles - maybe put together a book? The oldest executive at Ares Management Corp is PaulJoubert, 72, who is the Independent Director. It's just waiting for the market to really open up to be more aggressive. And that's a function of great performance, but it's also a function of what they call the denominator effect, which is as public market valuations come down, traditional fixed income valuations come down, those allocators of capital that are managing to a model have less capital to deploy into private equity. Michael Arougheti Co-Founder, CEO and President at Ares Management New York, New York, United States 7K followers 377 connections Join to follow Ares Management Corporation Yale University. The second thing on my mind is that managing in crisis is different than managing status quo. Mr. Arougheti also is a member of the Ares Credit Group's U.S. And I think one of the key jobs that we have at Ares is to mine our historical experience and recognize patterns. Picker: What about on the supply side of the equation? How is that easier than to digest? Understanding that really informs how we invest and the types of tools were using to invest into those different pockets. And one small company is building them for the Pentagon! And they have done it for far too many other organizations to name. 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. That is probably the single biggest challenge that we will face as the company continues to grow and expand. (Clickhereto subscribe to the Delivering Alpha newsletter.). Michael J. Arougheti has not been actively trading shares of Ares Management during the past quarter. I think what we do well is we tend to avoid big mistakes. Create a free family tree for yourself or for Michael Arougheti and we'll search for valuable new . Miami-based House of One designed the interiors. Dismiss. this connects so much to was you said on monday in the call about "executive presence" when you mentioned "project an image, a feeling, an ambiance" when you gave tips for everyday executive presence. And I think now we're back to kind of what it used to be, which is to invest my money well, return it, and it could take 12 to 18 months. A key support beam. Mr. Arougheti received a B.A. And therefore you're not going to see as much transaction volume as people manage their liquidity. Arougheti: Yes, and no. The estimated net worth of Michael J. Arougheti is at least $39.08 million as of November 10th, 2022. For the last almost 10 years, it seems like almost every market has been correlated and performing well. They did it, because thats simply who they are. 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. So if you look at the amount of issuance that we saw in the high grade market, if you look at the amount of liquidity that's been in the system, companies have built up a pretty substantial war chest of liquidity, and the consumer is coming off of a pretty significant amount of government assistance globally. This button displays the currently selected search type. 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. 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. CINCINNATI (WXIX) - Former Notre Dame All-American tight . Learn More on Ares Management's active insiders. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. Russia's war on Ukraine latest: Putin casts war as battle for nation's survival, India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon, French media billionaire Niel fails with bid for TNT television frequence - Arcom. He served two terms as Mayor of Atlanta, one of the fastest growing cities in the world. Last updated: 2 February 2023 at 9:52pm EST. Michael J. Arougheti is an entrepreneur and businessperson who founded Ares Management Corp., Ares Management LP, Ares Management LLC and Ares Management Corp (Private Equity) and who has been the head of 8 different companies. 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. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. 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 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. The . All of those things came to bear immediately when we went into the crisis. Thats whether youre talking about the corporate economy or the consumer economy. Arougheti:You have to look at it on a relative basis. 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. 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. We had explored the roller coaster of emotions and urgent steps induced by the COVID-19 pandemic. Certainly, Michael and Nelly would never say an external word. Mr. Arougheti owns 470,138 shares of Ares Management stock worth more than $39,077,871 as of March 4th. Whenever I called on Michael, he was there. Michael's personal network of family, friends, associates & neighbors include Elinor Bly, Joel Arougheti, Jeanne Arougheti, Paul Arougheti and Florence Stepper. And then it will, it will pick back up again. Typically when you go through a crisis of this magnitude, its a little slower to recover in terms of the new-deal market, and it tends to be much more distressed. Arougheti: Ares has a history of navigating volatile markets well, so if you look at the history of the firm, the period of growth for us it was the largest was through the global financial crisis and through COVID. And that's obviously pretty attractive to an investor who's looking for certainty of yield. A Division of NBCUniversal. 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). Most recently, Michael J. Arougheti sold 2,983 shares of the business's stock in a transaction on Thursday, November 10th. 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. As of 11 November 2022 he still owns at least 460,738 units of Ares Management Corp stock. When you think of yourself as a growth company, you manage yourself differently from a cultural and operational standpoint. 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. Welcome toHuman Capital, an open exploration of the ideas and people moving financial services forward. Such a comment is admirable, and reflects a more mindful leadership. in Ethics, Politics and Economics, cum laude, from Yale University. Mr. Arougheti also is a member of the Ares Credit Group's U.S. One of the reasons is we're one of the largest private credit managers 90% of our private credit exposures are floating rate. Director, Co-Founder, Chief Executive Officer and President of Ares. 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. The Frankels paid $14.4 million for the spec Miami Beach mansion in August 2020, and just sold it at a 120 percent markup. 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. Ares Management Corporation is a leading global alternative investment manager operating three integrated businesses across Credit, Private Equity and Real Estate. Additionally, Mr. Arougheti is a member of the PATH Organization Leadership Council. Arougheti: Well, this is like something we haven't seen before. So that was the good news. The most active insiders traders include Michael J Arougheti, Antony P Ressler, and Bennett Rosenthal. 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. When you get to a certain size as an organization, you have to appreciate that you inspire different people differently. 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 when Michael Arougheti committed, that gave license to Tony Ressler, his co-founder at Ares Management, that he could do the same. I was surprised at how quickly people could transition to working remotely. 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. 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. 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. A dream planted, but not much more. I think Ive become a more patient leader. Last month, Reed Smith attorney Constantine Karides paid $17.3 million for a waterfront home on Sunset Island I. A lot of people talk about this idea that crises accelerate trends that are already in place, and I agree with that. Picker: It's shifting. Chart Data in Insider Trading History Table. Most recently he sold 9,400 units of ARES stock worth $799,376 on 11 November 2022. So we're not only dealing with inflation, but we're now dealing with the impacts of a strong dollar globally, we still haven't quite gotten through the supply chain constraints that we're dealing with, and then overlay just for good measure of global, global conflict and energy crisis. Direct Lending and Pathfinder Investment Committees, the Ares Equity Income Opportunity Strategy Portfolio Review Committee and the Ares Sports, Media and Entertainment Investment Committee. So there's a fundamentally different positioning when you manage private capital versus liquid capital. That happens when you surround yourself with the best people, trust them, and lead alongside them neither from the front nor the back. Sticker shock: Ranking South Floridas priciest residential rentals, Here are Chicago's top 10 construction permits issued in May. Treating me, like I was his own. In the last twelve months, insiders at the asset manager sold shares 15 times. 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. Frankel is also a real estate investor and owner of wineries and restaurants. The investment management firm has about $325 billion of assets under management, according to its website. In the last twelve months, Ares Management insiders bought shares 20 times. For me. Copyright 2018 | John Hope Bryant and JohnHopeBryantHoldings, LLC | All rights reserved. I LOVE this series!! Mr. Arougheti owns 470,138 shares of Ares Management stock worth more than $39,200,106 as of February 9th. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. We're not having that experience. Veritas $450M loan default: A sign of things to come? 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. See above for full video.). We found 290 records for Arougheti last name 128 Family Trees 29 Birth, Marriage & Death 19 Census & Voter Lists 8 Immigration & Travel View all records Explore your family history with: Three. After catching up for an hour recently, tackling a slew of questions and meaty subjects, Mike Arougheti had a question for me. 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. And if so, do you think that the markets are already pricing that in? And we've been pretty vocal that again, if all we do is sit on our existing exposures, we can see core earnings growing, you know, in the double digit range just because of the rise in base rates. All that being said, you also have to be measured in the way that you deploy through a cycle. Its been such an interesting year because in so many ways, it was probably one of the most challenging of my career. [BREAKING] New "Living Missile" to Replace Nuclear Missiles. Picker: Are you surprised by that? I kind of laugh at that because culture and strategy go hand in hand. Block by block amd piece by piece, we pulled the institutional fabric together that we now call The Promise Homes Company. The good news is that if you look at corporate America, you have many companies that were indirectly COVID-impacted that have figured out how to navigate things and are now doing OK. And there are just certain companies in certain industries that are directly challenged and will have a harder go of it. Tampa Bay Rays co-owner sold it for over double his 2020 purchase price, 1635 West 22nd Street with Ares Management's Michael Arougheti and Randy Frankel (Michael Ruiz with LPG, Getty). Michael Arougheti is 47, he's been the President, Chief Executive Officer, Co-Founder, and Director of Ares Management Corp since 2018. by John Hope Bryant | Feb 28, 2022 | Bryant on Leaders and Leadership, John Hope Bryant Authored, Operation HOPE. The Sharpe Angle: Ares Management CEO Michael Arougheti says this macro environment is 'like something we haven't seen before', Don't bet that the bottom is in for what were high-growth tech firms, private equity investors say, Ken Griffins hedge fund Citadel is up again in 2023 following a record year, Third Point's Daniel Loeb takes a passive stake in AMD. That was June, 2017. This net worth estimate does not reflect any other investments that Mr. Arougheti may own. You take different risks along different time frames. Are you still seeing that as active? When the markets are so uncertain. 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. It was designed by Domo Architecture + Design and includes a guest house, cabana and pool. You had a picture of it!!! Michael J. Arougheti is also Partner at Direct Lending Group, Inc. and Member of Program for Appropriate Technology in Health and on the board of 7 other companies. You set a cultural agenda thats a little bit more willing to take risk and fail along the growth curve, as compared to a traditional, stodgy view of asset management. 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. And so we're also seeing increasing demand for things like real assets and private equity. Convicted. But there are echoes of the past. In each edition, we feature a leader or rising star whos changing the game in his or her own way. The corporate mailing address for Mr. Arougheti and other Ares Management executives is 2000 AVE OF THE STARS 12TH FLOOR, LOS ANGELES CA, 90067. Below are excerpts from our recent conversation. But it's been a little bit easier to navigate in the sense that there's not one sector that's getting consistently challenged by the current environment, it's giving people a little bit of a reprieve, now and again. Michael Arougheti Mr. Arougheti is a Co-Founder of Ares and has served as a Director and the President of Ares Management since 2014. Mr. Arougheti was instrumental in the growth of Ares. 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. 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. 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. And I think that's true for the publicly traded markets as well. 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. Dismiss. When you look at the economy, its a tale of two cities. We want to hear from you. 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. President of Ares at the time, he stood alone, observing the partygoers, content being a fly on the wall. Michael Arougheti, co-founder and CEO of Ares Management, joins "Squawk Box" by phone to discuss the markets and the unprecedented economic turmoil driven by the coronavirus outbreak. Learn More about Michael J. Arougheti's net worth. Mr. Arougheti also is a member of the Ares Credit Group's U.S. It's somewhat counter cyclical. in Ethics, Politics and Economics, cum laude, from Yale University. Arougheti:I think, for traditional private equity for many it likely will be. Over the next several years, I covered Aress IPO, its deals, and Aroughetis ascension to CEO in 2018. Additionally, he is a member of the PATH Organization Leadership Council. And thats required if you want to see change happen and you want to see it happen quickly and sustainably. But ultimately, the market is there, and the demand for the product is there. Todd Michael Glaser and Rony Seikaly developed the Sunset Island IV mansion and sold it to the Frankels. In addition to that, something thats been true my whole career but Ive come to appreciate lately is just how important it is to build high-quality teams. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Thats true for the consumer as well you have a sizable segment of the population that is doing OK, and you have a segment of the population that, unfortunately, is being devastated. So if you look at our $340 billion of assets, over $90 billion of it is unvested. Musk Made a Mess at Twitter. 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. 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. Here are some of the teachers. The Sunset Islands have emerged as a top neighborhood in Miami Beach, especially amid the pandemic. CBS News Reports: "It's an entirely new type of weapon." There are 13 older and 6 younger executives at Ares Management Corp. Thats one of the unique things about businesses like ours. is a very unique organization, in part given its steady, consistent rise, and focus on credit. Direct Lending and Pathfinder Fund Investment Committees, the Ares Equity Income Opportunity Strategy Portfolio Review Committee and the Ares Operations Management Group. Michael is not an obviously emotional person, to the outside world. What makes our culture special is that its deeply rooted in partnership, in entrepreneurialism, in growth mindset. Currently, Mr. Arougheti is Co-Chairman of Ares Acquisition Corp., President, Chief Executive Officer & Director at . Mr. Arougheti also is a member of the Ares Credit Groups U.S. Direct Lending and Pathfinder Investment Committees, the Ares Equity Income Opportunity Strategy Portfolio Review Committee and the Ares Sports, Media and Entertainment Investment Committee. Mr. Arougheti received a B.A. 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. This is going to be top of mind for a lot of leaders this year and, I think, into next. So Michael and his super talented author,wife Nelly (Bly) decided to do it personally, themselves. So we have some publicly traded credit companies, ARCC, ACRE, that largely manage floating rate assets. 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. Mayer is widely considered among the best available at his position. Michael J. Arougheti is an entrepreneur and businessperson who founded Ares Management Corp., Ares Management LP, Ares Management LLC and Ares Management Corp (Private Equity) and who has been the head of 8 different companies. 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. What I've been pleased with is in our portfolios, inflation is present, it has shifted from cost of goods to cost of labor, at least in our US portfolios, but the margins are still at or near all time highs. The Real Estate Group segment provides debt, mortgage loans, and equity capital to borrowers, property owners, and real estate developers. So I don't want to say that that's good. Mr. Arougheti received an undergraduate degree from Yale University. Ares Management can also be reached via phone at (310) 201-4100 and via email at [emailprotected] Learn More on Michael J. Arougheti's contact information. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. When youre going through this amount of uncertainty, what I found served us well from the first day back in March 2020 was the value of over-communicating and, in many instances, saying that you didnt know. 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%. It additionally provides investors access to directly originated fixed and floating rate credit assets and the ability to capitalize on illiquidity premiums across the credit spectrum. The Private Equity Group segment manages shared control investments in corporate private equity funds. Despite that, that issue and I think that's a reflection of, of a consolidation of LP dollars with fewer GPS. And that's pretty attractive to most investors right now. Kudos to Ares. This button displays the currently selected search type. That is going to be an interesting management challenge in and of itself going from crisis management back to ordinary course without losing the progress that weve made operationally and culturally. |, They did it, because thats simply who they are, Operation HOPE, U.S. Small Business Administration and U.S. Treasury Host Roundtable to Celebrate Freedmans Bank. Michael Arougheti took the reins of alternative-asset manager Ares Management on Jan. 1, 2018. The estimated net worth of Michael J Arougheti is at least $177 Million dollars as of 2023-02-12. Why do you think that is? They did this three times. And that opportunity to deploy lasted maybe three weeks. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. 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. So if you say, cost of goods, inflation, that had an impact on retail, hospitality, consumer facing businesses, as you now shift, and you see easing in that now, maybe you're seeing some pressure on service oriented businesses, you know, that are either facing off with a consumer or trying to navigate a tightening labor market. The estimated Net Worth of Michael J Arougheti is at least $235 Million dollars as of 11 November 2022. Michael Arougheti Expand search. 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. When you get into a period like we went through in March and April of last year, its very hard for a lot of leaders to say that they dont know. We want to hear from you. Michael J. Arougheti serves as President, Chief Executive Officer, Co-Founder, Director of the Company. 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.