LOS ANGELES--(BUSINESS WIRE)--
Ares Management Corporation (NYSE:ARES) today reported its financial
results for its first quarter ended March 31, 2019.
“Our first quarter results demonstrate continued strong growth with our
fee related earnings, realized income and assets under management all
growing at 18% or better on a year over year basis,” said Michael
Arougheti, Chief Executive Officer and President of Ares. “Demand for
alternative assets remains robust and our broad platform continues to
resonate with our clients with approximately $6.5 billion in gross
capital added during the first quarter.”
“We ended the first quarter with approximately $24 billion of assets
under management raised but not yet deployed or earning fees, providing
us strong visibility into continued earnings growth as we use our
platform’s advantages to invest these funds,” said Michael McFerran,
Chief Operating Officer and Chief Financial Officer of Ares. “We also
continue to make investments in new fund strategies in order to
capitalize on investor preferences toward alternative investment
products.”
Common Dividend
Ares declared a quarterly dividend of $0.32 per share of its Class A
common stock, payable on June 28, 2019 to its Class A common
stockholders of record at the close of business on June 14, 2019.
Preferred Dividend
Ares declared a quarterly dividend of $0.4375 per share of its Series A
preferred stock with a payment date of June 30, 2019 to its Series A
preferred stockholders of record as of the close of business on June 15,
2019. As June 15, 2019 falls on a Saturday, the effective record date
for the dividend will be Friday, June 14, 2019.
Additional Information
Ares issued a full detailed presentation of its first quarter 2019
results, which can be viewed at www.aresmgmt.com
on the Investor Resources section of our home page under Events and
Presentations. The presentation is titled "First Quarter 2019 Earnings
Presentation." We also filed our First Quarter 2019 Earnings
Presentation on Form 8-K for the quarter ended March 31, 2019 with the
U.S. Securities and Exchange Commission on May 2, 2019 and will file our
Quarterly Report on Form 10-Q for the quarter ended March 31, 2019 with
the U.S. Securities and Exchange Commission on May 6, 2019. Copies of
our filings with the SEC are available through our website at www.aresmgmt.com
by selecting the SEC Filings sub-tab under the Investor Resources
section, as well as on the SEC’s website at www.sec.gov.
Stockholders can request a printed copy of the complete audited
financial statements free of charge upon request to [email protected]
or by written request addressed to Ares Management Corporation, Attn:
Investor Relations, 245 Park Ave, 44th Floor New York, NY 10167.
Conference Call and Webcast Information
Ares will host a conference call on May 2, 2019 at 10:00 a.m. ET to
discuss first quarter results. All interested parties are invited to
participate via telephone or the live webcast, which will be hosted on a
webcast link located on the Home page of the Investor Resources section
of our website at http://www.aresmgmt.com.
Please visit the website to test your connection before the webcast.
Domestic callers can access the conference call by dialing (888)
317-6003. International callers can access the conference call by
dialing +1 (412) 317-6061. All callers will need to enter the
Participant Elite Entry Number 0501635 followed by the # sign and
reference “Ares Management Corporation” once connected with the
operator. All callers are asked to dial in 10-15 minutes prior to the
call so that name and company information can be collected. For
interested parties, an archived replay of the call will be available
through June 2, 2019 (Eastern Time) to domestic callers by dialing (877)
344-7529 and to international callers by dialing +1 (412) 317-0088. For
all replays, please reference conference number 10129714. An archived
replay will also be available through June 2, 2019 on a webcast link
located on the Home page of the Investor Resources section of our
website.
About Ares Management Corporation
Ares Management Corporation is a publicly traded, leading global
alternative asset manager with approximately $137 billion of assets
under management as of March 31, 2019 and 18 offices in the United
States, Europe, Asia and Australia. Since its inception in 1997, Ares
has adhered to a disciplined investment philosophy that focuses on
delivering strong risk-adjusted investment returns throughout market
cycles. Ares believes each of its three distinct but complementary
investment groups in Credit, Private Equity and Real Estate is a market
leader based on assets under management and investment performance. Ares
was built upon the fundamental principle that each group benefits from
being part of the greater whole. For more information, visit www.aresmgmt.com.
Forward-Looking Statements
Statements included herein may constitute “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of
1995, which relate to future events or our future performance or
financial condition. These statements are not guarantees of future
performance, condition or results and involve a number of risks and
uncertainties. Actual results may differ materially from those in the
forward-looking statements as a result of a number of factors, including
those described from time to time in our filings with the Securities and
Exchange Commission. Ares Management Corporation undertakes no duty to
update any forward-looking statements made herein or on the
webcast/conference call.
Nothing in this press release constitutes an offer to sell or
solicitation of an offer to buy any securities of Ares or an investment
fund managed by Ares or its affiliates.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190502005264/en/
Investor Relations Contacts
Carl Drake
[email protected]
(800)
340-6597
Cameron Rudd
[email protected]
(800)
340-6597
Source: Ares Management Corporation
