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. 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. Below are excerpts from our recent conversation. 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. 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. It's somewhat counter cyclical. 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). 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. 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 . 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. Some people struggled figuring out how to be in that environment. Ares Management Corp. is engaged in providing investment management and consultancy services. 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. Mr. Arougheti also serves on the boards of directors of Operation HOPE, a not-for profit organization focused on expanding economic opportunity in underserved communities through economic education and empowerment. A traditional portfolio of stocks and bonds is deeply in the red, leaving investors to seek diversity elsewhere. And if I didnt say this here, now, I guess no one would ever know. He is a member of the Ares Executive Management Committee and the firm's. This button displays the currently selected search type. Ressler, an Ares . On average, Michael trades about 111,368 units every 78 days since 2006. Inflation, a hawkish Fed, fears of a recession have all made 2022 a tough environment for investing. Information on this page was last updated on 2/15/2023. Arougheti: Well, this is like something we haven't seen before. For me. What I continue to learn every time I delegate and trust, every time we give somebody a part of the business to run and hold accountable for success, is it just turbocharges the growth here. I was surprised at how quickly people could transition to working remotely. 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. Direct Lending Investment Committee and the Ares Equity Income Opportunity Strategy Portfolio Review Committee. When the markets are so uncertain. Learn More on Michael J. Arougheti's trading history. Mr. Arougheti received a B.A. Ares Management Corp executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Where we are now, were deploying actively in almost every strategy across the firm because of this bifurcation. 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. Ryan Berry will become chief marketing and strategy officer. Michael Arougheti Co-Founder, CEO and President at Ares Management New York, New York, United States 7K followers 377 connections Join to follow Ares Management Corporation Yale University. When expanded it provides a list of search options that will switch the search inputs to match the current selection. 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. 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. And we're now seeing the retail investor really take hold as well. The move comes as Ares business becomes more complex and larger with $106bn assets under management in real estate, private equity and . And then surprisingly, when the private markets slow, you usually see public markets challenged as well. Mr. Arougheti received an undergraduate degree from Yale University. 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 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. (Patrick T. Fallon/Getty Images) 'Nobody is really prepared':. Its accelerated, the participation is broader, and added to that is a heightened sense of urgency. The case was due on Jan. 7, meaning the division had to . Mr. Arougheti received a B.A. There is a big difference between June and September in terms of a reopening and increased mobility. The Credit Group segment offers credit strategies across the liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed investments and U.S. and European direct lending. 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. What makes our culture special is that its deeply rooted in partnership, in entrepreneurialism, in growth mindset. Michael J. Arougheti serves as President, Chief Executive Officer, Co-Founder, Director of the Company. "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." 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. 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. 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. Prior to joining Ares in 2004, Mr. Arougheti was employed by Royal Bank of Canada ("RBC") 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. CNBC's Leslie Picker 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. I was doing the same, so we struck up a conversation. Thats the good news and the bad news. Trusted information source for millions of people worldwide . 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 I don't want to say that that's good. And one small company is building them for the Pentagon! Welcome toHuman Capital, an open exploration of the ideas and people moving financial services forward. Theres a conversation I had with a very close friend that still sticks with me. Most recently he sold 9,400 units of ARES stock worth $799,376 on 11 November 2022. The estimated Net Worth of Michael J Arougheti is at least $235 Million dollars as of 11 November 2022. They sold a total of 6,394,959 shares worth more than $255,128,106.92. |, 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. When you think of yourself as a growth company, you manage yourself differently from a cultural and operational standpoint. Miami-based House of One designed the interiors. Learn More about Michael J. Arougheti's net worth. 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"). . See above for full video.). Arougheti:You have to look at it on a relative basis. Michael and I met casually, but our bond as brothers and friends, early on, was anything but casual. And the thing is, they did it so casually. 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. And I will never forget it. 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. In addition, he makes $12,665,700 as President, Chief Executive Officer, Co-Founder, and Director at Ares Management Corp. Michael has made over 55 trades of the Ares Management Corp stock since 2008, according to the Form 4 filled with the SEC. Similarly, our clients the folks who allocate capital to us are holding us accountable for change. All that being said, you also have to be measured in the way that you deploy through a cycle. 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. But most of our portfolio managers and investors are investing at a slower pace than they normally would as they wait to see how these markets develop. That comes with a broader view into different parts of the world and different parts of the organization. Mayer is widely considered among the best available at his position. Marko Gojanovic of One Sothebys International Realty represented the Frankels in the latest sale, and Reid Heidenry with the same firm represented Arougheti. But there are echoes of the past. So if all we do is continue to invest at the top end of a company's capital structure, or lend against a real asset, with rates going up the way that they are, there's significant embedded profit potential. 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. The Private Equity Group segment manages shared control investments in corporate private equity funds. I think what was true for a lot of organizations was folks believed in the importance of DE&I and ESG, they were passionate about it, but organizationally it had not become a top priority. They did it, because thats simply who they are. So Michael and his super talented author,wife Nelly (Bly) decided to do it personally, themselves. Mr. Arougheti also is a member of the Ares Credit Group's U.S. The good news is that if you look at corporate America, you have many companies that were indirectly COVID-impacted that have figured out how to navigate things and are now doing OK. And there are just certain companies in certain industries that are directly challenged and will have a harder go of it. And that opportunity to deploy lasted maybe three weeks. He is so busy doing, executing on his beliefs, that he makes little to no noise of or about himself, as he cuts through the challenges before him. 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. 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With hundreds of billions of dollars worth of floating rate credit and real assets, the firm's $200B book has surprisingly held up well. And Michael Arougheti, was all of that. And I think one of the key jobs that we have at Ares is to mine our historical experience and recognize patterns. Direct Lending and Pathfinder Investment Committees, the Ares Equity Income Opportunity Strategy Portfolio Review Committee and the Ares Sports, Media and Entertainment Investment Committee.
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