LOS ANGELES--(BUSINESS WIRE)--
Ares Management, L.P. (NYSE:ARES) today reported its financial results
for its fourth quarter and year ended December 31, 2016.
"Our strong fourth quarter results concluded a very good year for Ares
as our earnings rose significantly from stronger investment performance
and higher net investment income," said Tony Ressler, Chief Executive
Officer of Ares. "Our strong financial performance was broad based as
all three of our groups generated full year growth in economic net
income and distributable earnings."
"During 2016, we continued to enjoy widespread demand from our existing
and new clients with approximately $14 billion in AUM raised," said
Michael Arougheti, President of Ares. "Looking forward, we are well
positioned for fee related earnings growth as we increase our fee paying
AUM by investing our available capital and benefit from recent strategic
initiatives.”
Common Distribution
Ares declared a quarterly distribution
of $0.28 per common unit, payable on March 24, 2017 to common
unitholders of record at the close of business on March 10, 2017.
Preferred Distribution
Ares declared a distribution of
$0.4375 per Series A Preferred Unit with a payment date of March 31,
2017 to preferred unitholders of record as of the close of business on
March 15, 2017.
Additional Information
Ares issued a full detailed
presentation of its fourth quarter and full year 2016 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 Fourth Quarter and Full Year
2016 Earnings Presentation. We also filed our Fourth Quarter and Full
Year 2016 Earnings Presentation on Form 8-K for the year ended December
31, 2016 with the U.S. Securities and Exchange Commission on February
24, 2017 and will file our Annual Report on Form 10-K for the year ended
December 31, 2016 with the U.S. Securities and Exchange Commission on
February 27, 2017.
Conference Call and Webcast Information
Ares will host a
conference call on February 24, 2017 at 12:00 p.m. ET to discuss fourth
quarter and full year 2016 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 6296107 followed by the # sign and
reference “Ares Management, L.P.” 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 March 24, 2017
(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 10099239. An archived replay will
also be available through March 24, 2017 on a webcast link located on
the Home page of the Investor Resources section of our website.
About Ares Management, L.P.
Ares Management, L.P. is a
publicly traded, leading global alternative asset manager with
approximately $99 billion of assets under management as of December 31,
2016, including approximately $3.6 billion of AUM pro forma for Ares
Capital Corporation’s acquisition of American Capital, Ltd., which
closed on January 3, 2017, and more than 15 offices in the United
States, Europe and Asia. 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, L.P. 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: http://www.businesswire.com/news/home/20170224005152/en/
Investor Relations Contacts
Carl Drake, 800-340-6597
[email protected]
or
Veronica
Mendiola
[email protected]
or
Cameron
Rudd
[email protected]
Source: Ares Management, L.P.
