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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. 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. 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. Michael didnt stop there. Despite that, that issue and I think that's a reflection of, of a consolidation of LP dollars with fewer GPS. Theres always this debate about whats more important, culture or strategy. Data is a real-time snapshot *Data is delayed at least 15 minutes. Picker: What about on the supply side of the equation? What makes our culture special is that its deeply rooted in partnership, in entrepreneurialism, in growth mindset. 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. I have worked with Ares over the years (and some of their predecessors), and invariably, the interactions have been very professional and thoughtful. You take different risks along different time frames. This button displays the currently selected search type. So we're going in with more health than we typically would have when we're talking about recession risk, the order of magnitude that some people are anxious about. 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. The oldest executive at Ares Management Corp is PaulJoubert, 72, who is the Independent Director. Convicted. 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. Love and authenticity tends to have that effect on people. From there, its really going to be a function of what incremental fiscal and monetary stimulus exists. 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 . He served two terms as Mayor of Atlanta, one of the fastest growing cities in the world. 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. 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. 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. Hes sort of a walking brain, and I am pretty sure he has a genius IQ. CINCINNATI (WXIX) - Former Notre Dame All-American tight . Last month, Reed Smith attorney Constantine Karides paid $17.3 million for a waterfront home on Sunset Island I. Miami-based House of One designed the interiors. In each edition, we feature a leader or rising star whos changing the game in his or her own way. 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. 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. ". And that's obviously pretty attractive to an investor who's looking for certainty of yield. Tue, Mar . We want to hear from you. And I think one of the key jobs that we have at Ares is to mine our historical experience and recognize patterns. is a very unique organization, in part given its steady, consistent rise, and focus on credit. Get notified the next time Michael J. Arougheti buys or sells Ares Management stock. Are you surprised that the credit quality has been able to withstand some of the pressures of a rising interest rate environment and lack of liquidity in the system? There is a big difference between June and September in terms of a reopening and increased mobility. And, myself included, that can often be very hard to do you tend to create boundaries between your work self and your home self. And it's moving around a little bit, right. 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. Over the next several years, I covered Aress IPO, its deals, and Aroughetis ascension to CEO in 2018. As the President, Chief Executive Officer, Co-Founder, and Director of Ares Management Corp, the total compensation of Michael Arougheti at Ares Management Corp is $12,665,700. Or is it faster or slower? 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. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? 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. We had examined his road map for the year ahead. Its been such an interesting year because in so many ways, it was probably one of the most challenging of my career. In the last twelve months, insiders at the asset manager sold shares 15 times. 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. It required thinking a lot more holistically. 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. Together, personally, they both became the financial backers for the founding of my Promise Homes Company dream. Learn More on Ares Management's active insiders. The Frankels paid $14.4 million for the spec Miami Beach mansion in August 2020, and just sold it at a 120 percent markup. When you talk about belonging, youre talking about being able to bring your authentic self to work. For the last almost 10 years, it seems like almost every market has been correlated and performing well. And when Michael Arougheti committed, that gave license to Tony Ressler, his co-founder at Ares Management, that he could do the same. Whenever I called on Michael, he was there. This chart shows Michael J Arougheti's buying and selling at Ares Management by year and by quarter. It's just waiting for the market to really open up to be more aggressive. 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. The New York Times Reports: "No existing defense can stop it." Arougheti:I think, for traditional private equity for many it likely will be. 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. Direct Lending and Pathfinder Investment Committees, the Ares Equity Income Opportunity Strategy Portfolio Review Committee and the Ares Sports, Media and Entertainment Investment Committee. And one small company is building them for the Pentagon! 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. 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. |, 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. A sponsor. in Ethics, Politics and Economics, cum laude, from Yale University. 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. 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. He bought the property for $9.3 million and sold it to the next door neighbor for $14 million. And then the friendship came. 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. Trusted by millions of genealogists since 2003. I'd subscribe to that podcast on a heartbeat, People will forget what you said, people will forget what you did, but people will never forget how you made them feel.. Mr. Arougheti also is a member of the Ares Credit Groups U.S. Chart Data in Insider Trading History Table. 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. So the way that we're approaching it is we're obviously looking for what we think is the best risk adjusted return globally. Ares Management, however, has been a beneficiary of the current environment. But they did it. Ares Management, however, has been a beneficiary of the current environment. 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 LOVE this series!! Thank you!! 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. Finance is an apprentice business, one often hears in this sector. Picker:As you think about the inflationary environment, in particular, and in planning for your own business in conversations with LPs, what's your take for how long we will be in a current situation like we're in right now? Thank you Michael Arougheti. I think that, for those of us who embraced it, it created a level of trust, of empathy, of relatability. They purchased a total of 8,706,492 shares worth more than $85,604,376.84. 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. now if I can only get you to co-write my current one. And the simple answer for that is buyers and sellers need to take time to re agree on what the appropriate price for a company or an asset are. And Michael Arougheti, was all of that. Learn More on Michael J. Arougheti's trading history. There are 6 executives at Ares Management Corp getting paid more, with David B. Kaplan having the highest compensation of $54,974,317. All of those things came to bear immediately when we went into the crisis. 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. Arougheti: Yes and no. Helping me was certainly not his job, nor his calling or his role in life, but he never once made me feel like I was secondary to what was his primary. 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. Hence the demand that we see for private credit assets globally, and maybe a dissatisfaction with the performance of traditional 60/40 portfolios and what seems to be more consistent volatility in the traded markets. 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"). You had a picture of it!!! CBS News Reports: "It's an entirely new type of weapon." Not just because people were remote, but because youre also in a much different headspace, balancing home and family and kids. Musk Made a Mess at Twitter. 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. Its accelerated, the participation is broader, and added to that is a heightened sense of urgency. He previously occupied the position of Principal at Royal Bank of Canada and Managing Partner-Principal Finance Group at RBC Capital Partners Ltd. (a subsidiary of Royal Bank of Canada), Principal at Onyx Partners, Inc., Executive Vice President at Columbia Savings & Loan Association (Milwaukee, Wisconsin), Member-Mergers & Acquisitions Group at Kidder, Peabody & Co., Inc., Principal at Taylor & Co. Law Offices LLP, Co-Chairman for ACRE Capital LLC, Director at Evercom, Inc., Director at Imperial Capital LLC and Principal at Indosuez Capital. Michael Arougheti is 47, he's been the President, Chief Executive Officer, Co-Founder, and Director of Ares Management Corp since 2018. One of the things that Ive said to my partners here is to think of Ares as a growth company in a growth industry. . Picker:So in recent months and we've spoken, private equity has been essentially the kind of the laggard in terms of dealmaking. Ares Management co-founders Tony Ressler and Michael Arougheti provided founding investments and served on the company's investment committee until last year. For me. Ares Management Corporation is a leading global alternative investment manager operating three integrated businesses across Credit, Private Equity and Real Estate. -0.38 -0.45%. The house at 2535 Shelter Avenue also sold for more than double its previous purchase price in 2020. 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%. 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. Arougheti: Well, this is like something we haven't seen before. I was surprised at how quickly people could transition to working remotely. 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 records show the division opened a case on Dec. 8, 2022, to investigate threats and allegations of child abuse by Michael Haight. Enter your email address below to get our daily insider buying and selling report. But when you go remote, youre effectively letting everybody into your home, whether thats the sights or sounds or just the challenges. 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. The Big Take is the very best of Bloomberg's in-depth, original reporting from around the globe every day. Mr. Arougheti also is a member of the Ares Credit Group's U.S. Kudos to Ares. 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: As of 11 November 2022 he still owns at least 460,738 units of Ares Management Corp stock. 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. The estimated net worth of Michael J Arougheti is at least $177 Million dollars as of 2023-02-12. Picker: Are you surprised by that? He is a member of the Ares Executive Management Committee and the firm's. And I will never forget it. 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. Learn More on Ares Management's active insiders. So, how do we get out of crisis mode by getting people back into the office and driving the business forward? On average, Michael trades about 111,368 units every 78 days since 2006. President of Ares at the time, he stood alone, observing the partygoers, content being a fly on the wall. Because if our experience has taught us anything, things can change to the positive as quickly as they change to the negative. 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. While Ares is mostly credit focused, they have built a brand that seems more venerable than many credit shops before them. Frankel is also a real estate investor and owner of wineries and restaurants. And so we're also seeing increasing demand for things like real assets and private equity. A Division of NBCUniversal. Inflation? 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. And then it will, it will pick back up again. and I will never, forget that that conviction, of one Michael Arougheti. The Sunset Islands have emerged as a top neighborhood in Miami Beach, especially amid the pandemic. And that's pretty attractive to most investors right now. To experiment. Learn More on Michael J. Arougheti's contact information. If you turn your attention to Europe, in certain parts of Asia, the story might be different. 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. And I also think that some of the large public platforms similarly continue to raise money. This net worth estimate does not reflect any other investments that Mr. Arougheti may own. Among leaders of the major alternative-asset managers think Blackstone, Apollo, Carlyle, KKR Arougheti is the understated, cerebral CEO. 84 Likes, 1 Comments - Michael Hollick (@mikehollick) on Instagram: "What an awesome week and celebration for my dads 70th So awesome to spend time with our family" Ares Management co-founder and CEO Michael. I think many managers got accustomed to very quick fundraisers and I think they got accustomed to fundraisers happening prior to return of money. 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. Id like to think that Ive become more strategic in my thinking, as opposed to just tactical around parts of the business. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. So we're giving a little bit back in the private flow. 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. Additionally, he is a member of the PATH Organization Leadership Council. Sometimes all you can do is throw them a life jacket and say swim as hard as you can !. The firm now oversees $197 billion. Its a pretty unique set of circumstances. 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. What Im hoping is that we can continue to have that mindset as we scale. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. Insiders at Ares Management own 47.4% of the company. Got a confidential news tip? Director, Co-Founder, Chief Executive Officer and President of Ares. Explore historical records and family tree profiles about Michael Arougheti on MyHeritage, the world's family history network. 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. They are most only concerned with the outcome, not the credit. Direct Lending and Pathfinder Fund Investment Committees, the Ares Equity Income Opportunity Strategy Portfolio Review Committee and the Ares Operations Management Group. So, the places where you would be seeing the most distress, we just dont have that much of it. Why do you think that is? We're not having that experience. (Clickhereto subscribe to the Delivering Alpha newsletter.). 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. Picker: And you are not, is this typical for you? Last year, Los Angeles-based Ares made a $150 million preferred equity investment in Inter Miami CF. Mr. Arougheti received a B.A. , thanks for sharing these insights with top executives - super useful. Youre seeing it recently: Public markets are near record highs, fixed-income markets are near record tights, but we know that fundamental stresses and challenges remain. A Division of NBCUniversal. 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. 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 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. 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 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. You dont hear people talking about asset-management firms in that light. In the last twelve months, Ares Management insiders bought shares 20 times. The best advice I would give now is that you have to lead different people differently. Mayer is widely considered among the best available at his position. It makes him no less potent, to which Aress rapid global expansion of late is a testament. Such is the man the world refers to as Michael Arougheti. Moulds, Michael 12/27/1949 2/13/2023 Pierson, Michigan. 2023 CNBC LLC. ", (The below has been edited for length and clarity. So, you have to lead in a new way. Great interview and loved the throwback articles - maybe put together a book? 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. 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. And I will never forget it. what I remember from interviewing Michael on a panel years ago is his razor sharp intelligence! 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). The shares were sold at an average price of $85.02, for a transaction totalling $253,614.66. It absolutely starts with the health crisis and the speed with which we get people inoculated. 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. Arougheti: For us and others that look like us, it's been as good as we've seen in quite some time. Such a comment is admirable, and reflects a more mindful leadership. But there are echoes of the past. Picker: So how would you characterize the credit quality within your portfolio right now? Ares Management Corporation (NYSE:NYSE:ARES) Q1 2022 Earnings Conference Call April 28, 2022 11:00 AM ETCompany ParticipantsCarl Drake - Head, Public Markets, Investor Relations Michael. omg. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. 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. Michael has a reported annual income of $100 - 149,999 and a current net worth value of greater than $250,000 - $499,999. There are no ways to adequately describe a man with conviction. And then surprisingly, when the private markets slow, you usually see public markets challenged as well. 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. We had explored the roller coaster of emotions and urgent steps induced by the COVID-19 pandemic. Of having a willingness to try new things. 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. 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. That is probably the single biggest challenge that we will face as the company continues to grow and expand.