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. So we have a ways to go. When you think of yourself as a growth company, you manage yourself differently from a cultural and operational standpoint. Leslie Picker:How long do you think these tailwinds for your business will last? And so we're also seeing increasing demand for things like real assets and private equity. Michael didnt stop there. What Im hoping is that we can continue to have that mindset as we scale. and I will never, forget that that conviction, of one Michael Arougheti. 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. Find the names and birth dates of Arougheti family members, different addresses of residence, family members' occupations as well as death and burial information. 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. A key support beam. 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. 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 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. Ares Management co-founders Tony Ressler and Michael Arougheti provided founding investments and served on the company's investment committee until last year. 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. Hes sort of a walking brain, and I am pretty sure he has a genius IQ. 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. in Ethics, Politics and Economics, cum laude, from Yale University. Really what wound up happening was our employees were awakened the onset of the pandemic, the increased empathy at work, the issues of societal justice around them. Mayer is widely considered among the best available at his position. Ares Management's investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. 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. In the last twelve months, insiders at the asset manager sold shares 15 times. Picker:So six to 12 months puts us at what, January? You dont hear people talking about asset-management firms in that light. Mr. Arougheti also is a member of the Ares Credit Group's U.S. Fortunately weve got enough stimulus that weve now kind of stabilized and bridged. We obviously navigated the pandemic with a significant amount of government and central bank intervention. Convicted. From there, its really going to be a function of what incremental fiscal and monetary stimulus exists. Arougheti: So this is - we're talking about the US specifically. To experiment. 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. 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. 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). I kind of laugh at that because culture and strategy go hand in hand. Thats not how leadership is classically trained. And one small company is building them for the Pentagon! 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 -. And the thing is, they did it so casually. The most recent stock trade was executed by Antony P Ressler on 10 February 2023, trading 16,879 units of ARES stock currently worth $1,436,740. So if you look at recent memory, going through the early days of COVID, in 2020, that felt like it was going to be a severely disrupted market for quite some time. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. This net worth estimate does not reflect any other investments that Mr. Arougheti may own. How is that easier than to digest? Insiders at Ares Management own 47.4% of the company. 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 . 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. Last year, Los Angeles-based Ares made a $150 million preferred equity investment in Inter Miami CF. Over the next several years, I covered Aress IPO, its deals, and Aroughetis ascension to CEO in 2018. He joined my board of directors for Operation HOPE, and later I joined his board, for a new publicly traded company called Ares Commercial Real Estate REIT. On average, Ares Management Corp executives and independent directors trade stock every 19 days with the average trade being worth of $9,916,050. Randy Frankel, a former managing director at Goldman Sachs, and his Wall Street partners acquired the baseball team the Tampa Bay Rays in 2004. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. 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. While Ares is mostly credit focused, they have built a brand that seems more venerable than many credit shops before them. 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. Arougheti:You have to look at it on a relative basis. And if I didnt say this here, now, I guess no one would ever know. 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. Picker: It's shifting. Ressler, an Ares . 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. Why do you think that is? 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. Ares Management co-founder and CEO Michael Arougheti bought the property, records show. 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. So that was the good news. Copyright 2018 | John Hope Bryant and JohnHopeBryantHoldings, LLC | All rights reserved. Theres a conversation I had with a very close friend that still sticks with me. 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. And then it will, it will pick back up again. It's just waiting for the market to really open up to be more aggressive. Chart Data in Insider Trading History Table. 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. And Michael Arougheti, was all of that. So we're giving a little bit back in the private flow. Thats whether youre talking about the corporate economy or the consumer economy. All of the cultural initiatives that we were executing on accelerated. Picker: What about on the supply side of the equation? Because if our experience has taught us anything, things can change to the positive as quickly as they change to the negative. Picker: So that would imply that fundraising is a bit more challenging as well in PE? A lot of people talk about this idea that crises accelerate trends that are already in place, and I agree with that. Mr. Arougheti received a B.A. (Photo by Matt Winkelmeyer/Getty Images) Coogler, who has . 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. 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. Leaders can see this crisis as a burden or an opportunity from a DE&I perspective. 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. by John Hope Bryant | Feb 28, 2022 | Bryant on Leaders and Leadership, John Hope Bryant Authored, Operation HOPE. 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 expanded it provides a list of search options that will switch the search inputs to match the current selection. Separate. Arougheti:Yeah, we're already seeing the pipeline start to build into the end of the year. Inflation, a hawkish Fed, fears of a recession have all made 2022 a tough environment for investing. In the moment, I thought back to the first time I met Arougheti, in a 50,000-square-foot house (not his) (or mine) in Beverly Hills almost a decade ago. 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. I think that, for those of us who embraced it, it created a level of trust, of empathy, of relatability. So we have some publicly traded credit companies, ARCC, ACRE, that largely manage floating rate assets. I don't think that will end anytime soon. Most recently, Michael J. Arougheti sold 2,983 shares of the business's stock in a transaction on Thursday, November 10th. This button displays the currently selected search type. How do you preserve that at scale? 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 estimated net worth of Michael J. Arougheti is at least $39.20 million as of November 10th, 2022. Direct Lending and Pathfinder Investment Committees, the Ares Equity Income Opportunity Strategy Portfolio Review Committee and the Ares Sports, Media and Entertainment Investment Committee. As of 11 November 2022 he still owns at least 460,738 units of Ares Management Corp stock. in Ethics, Politics and Economics, cum laude, from Yale University. The Real Estate Group segment provides debt, mortgage loans, and equity capital to borrowers, property owners, and real estate developers. 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. Inflation? what I remember from interviewing Michael on a panel years ago is his razor sharp intelligence! 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. 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. 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. Learn More about insider trades at Ares Management. When you talk about belonging, youre talking about being able to bring your authentic self to work. And I will never forget it. Got a confidential news tip? Sign up for free newsletters and get more CNBC delivered to your inbox. See above for full video.). Thats when leadership is most rewarding. He tipped the scale of HOPE for me, on several occasions. That happens when you surround yourself with the best people, trust them, and lead alongside them neither from the front nor the back.
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