LOS ANGELES--(BUSINESS WIRE)--
Ares Management, L.P. (NYSE:ARES) today reported its financial results
for its third quarter ended September 30, 2017.
"Ares generated record levels of fee related and distributable earnings
during the third quarter driven by continued strong growth in our
management fees and the partial monetization of several successful
investments," said Tony Ressler, Chief Executive Officer of Ares. “Our
investment performance and platform expansion has contributed to our
strong fundraising with more than $5 billion of inflows during the third
quarter and over $16 billion over the last 12 months.”
“Our year to date double digit growth in our earnings and fee paying AUM
metrics reflect our continuing strong business trends, including our
ability to execute well in our core areas of fundraising, investing and
harvesting gains,” said Michael Arougheti, President of Ares. “As a
result, we believe we are building the foundation for future value
creation for our clients and unitholders.”
Common Distribution
Ares declared a quarterly distribution of $0.41 per common unit, payable
on December 1, 2017 to common unitholders of record at the close of
business on November 17, 2017.
Preferred Distribution
Ares declared a distribution of $0.4375 per Series A Preferred Unit with
a payment date of December 31, 2017 to preferred unitholders of record
as of the close of business on December 15, 2017.
Additional Information
Ares issued a full detailed presentation of its third quarter 2017
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 Third Quarter 2017 Earnings
Presentation. We also filed our Third Quarter 2017 Earnings Presentation
on Form 8-K for the quarter ended September 30, 2017 with the U.S.
Securities and Exchange Commission on November 3, 2017 and will file our
Quarterly Report on Form 10-Q for the quarter ended September 30, 2017
with the U.S. Securities and Exchange Commission on November 6, 2017.
Conference Call and Webcast Information
Ares will host a conference call on November 3, 2017 at 11:00 a.m. ET to
discuss second 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 9668422 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 December 3,
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 10112890. An archived replay will
also be available through December 3, 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 $106 billion of assets under management
as of September 30, 2017 and more than 15 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, 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/20171103005200/en/
Investor Relations
Carl Drake, 800-340-6597
[email protected]
or
Veronica
Mendiola
[email protected]
or
Cameron
Rudd
[email protected]
Source: Ares Management, L.P.
