I think what we do well is we tend to avoid big mistakes. Picker: So how would you characterize the credit quality within your portfolio right now? 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"). now if I can only get you to co-write my current one. Kudos to Ares. Picker:So in recent months and we've spoken, private equity has been essentially the kind of the laggard in terms of dealmaking. In addition to that, something thats been true my whole career but Ive come to appreciate lately is just how important it is to build high-quality teams. You can see the complete history of Mr. Arougheti stock trades at the bottom of the page. And thanks to that early vote of confidence, and the early stage founding capital from Michael Arougheti and Tony Ressler in early 2017, last late last year, in December, 2021, the company itself standing on its own now secured its own $200 million credit facility: Now reportedly the largest capital raise for a Black owned company in a decade, according to Black Enterprise. And if so, do you think that the markets are already pricing that in? Michael Arougheti. A Man of Conviction. - John Hope Bryant This is going to be top of mind for a lot of leaders this year and, I think, into next. Really what wound up happening was our employees were awakened the onset of the pandemic, the increased empathy at work, the issues of societal justice around them. How is that easier than to digest? Direct Lending and Pathfinder Fund Investment Committees, the Ares Equity Income Opportunity Strategy Portfolio Review Committee and the Ares Operations Management Group. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. There are 13 older and 6 younger executives at Ares Management Corp. 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. Insiders at Ares Management own 47.4% of the company. So one of the ways we can express a view on the market is by not investing. Convicted. Picker: As you digest all of that, do you think it's possible to avoid a hard landing? Learn More on Michael J. Arougheti's trading history. 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. 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. Michael Arougheti - Co-Founder, Di.. - Ares Management | ZoomInfo Fortunately weve got enough stimulus that weve now kind of stabilized and bridged. So there's a lot to digest. Chart Data in Insider Trading History Table. Its been such an interesting year because in so many ways, it was probably one of the most challenging of my career. Kerry Phelan, CFP, MBA, APMA's Post - rs.linkedin.com What Im hoping is that we can continue to have that mindset as we scale. Michael Arougheti - Biography - MarketScreener.com But there are echoes of the past. The reason I say 'no' is we've, despite the pandemic, we've had so much stimulus come into the market that people have had time to prepare. Whats been rewarding for me is that we have spent so much time over the years building culture here around our core attributes of collaboration and social responsibility and entrepreneurialism. Michael Arougheti took the reins of alternative-asset manager Ares Management on Jan. 1, 2018. The estimated net worth of Michael J. Arougheti is at least $39.20 million as of November 10th, 2022. Picker: Are you surprised by that? what I remember from interviewing Michael on a panel years ago is his razor sharp intelligence! When you think of yourself as a growth company, you manage yourself differently from a cultural and operational standpoint. Times. And that's pretty attractive to most investors right now. So, what feels different now versus where we were pre-pandemic is theres a sense not just of urgency, but accountability up and down the chain. The New York Times Reports: "No existing defense can stop it." 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. Join the conversation with your own take on these topics in the comments below. Click Subscribe above to be notified of future editions. 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. So, the places where you would be seeing the most distress, we just dont have that much of it. 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. 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? 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. 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. Ares Management CEO Michael Arougheti breaks down where to find yield What makes our culture special is that its deeply rooted in partnership, in entrepreneurialism, in growth mindset. Ares Management co-founder and CEO Michael Arougheti bought the property, records show. When the markets are so uncertain. 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. Additionally, Mr. Arougheti is a member of the PATH Organization Leadership Council. "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." 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. In this role, Ive had to think more holistically about where the business is going. And to oversimplify what's a complex series of global flows, it really comes down to a global desire for durable yield. Arougheti: Well, this is like something we haven't seen before. Ares Management CEO Michael Arougheti breaks down where to find yield in a world of uncertainty DA on CNBCEvents.com Sponsors Previous Years Delivering Alpha Ares Management CEO Michael. Leslie Picker:How long do you think these tailwinds for your business will last? 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. Arougheti:I think, in the US market, we still have a shot, I think the Fed is on the task, if you look at the strength of the market, and this what makes it particularly challenging to invest in, all of the data that we see, up until this point in our significant private portfolios, we tell you that the economy is still quite strong, corporate balance sheets are well positioned, the consumer is still relatively underleveraged. 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. 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. I think many managers got accustomed to very quick fundraisers and I think they got accustomed to fundraisers happening prior to return of money. I have worked with Ares over the years (and some of their predecessors), and invariably, the interactions have been very professional and thoughtful. 2023 CNBC LLC. 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 . 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. See above for full video.). The best advice I would give now is that you have to lead different people differently. Michael is not an obviously emotional person, to the outside world. You see, these men of conviction are different. Ares Management Corporation (NYSE:NYSE:ARES) Q3 2021 Earnings Conference Call October 27, 2021 12:00 PM ETCompany ParticipantsCarl Drake - Head, Public Company, IRMichael Arougheti -. But at the same time, it was probably the most rewarding. That's not necessarily true for traditional 60/40 portfolios, when you have money, you have to express a view on what you think is the best opportunity in the market. Id like to think that Ive become more strategic in my thinking, as opposed to just tactical around parts of the business. 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. In the last twelve months, Ares Management insiders bought shares 20 times. Whitepages people search is the most trusted directory. But when you go remote, youre effectively letting everybody into your home, whether thats the sights or sounds or just the challenges. Michael J Arougheti, 50 - Nyack, NY - Has Court or Arrest Records - MyLife 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. Moulds, Michael 12/27/1949 2/13/2023 Pierson, Michigan. 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. Liquidity Will Delay Default Spike for 2-3 Years, Ares CEO Says Copyright 2018 | John Hope Bryant and JohnHopeBryantHoldings, LLC | All rights reserved. I think they've got, you know, the increased challenge of the energy crisis and the strong dollar exacerbating the inflation picture for them. What does that mean for margins and kind of the stickiness of these high prices? Its accelerated, the participation is broader, and added to that is a heightened sense of urgency. And we're now seeing the retail investor really take hold as well. 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? 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. He is a member of the Ares Executive Management Committee and the firm's. So given all that, and given just where you see opportunity, are there certain sectors that you're putting more capital to work, say, than others, just given kind of the macro backdrop you just outlined? And I think one of the key jobs that we have at Ares is to mine our historical experience and recognize patterns. Learn More on Ares Management's active insiders. Because if our experience has taught us anything, things can change to the positive as quickly as they change to the negative. 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. in Ethics, Politics and Economics, cum laude, from Yale University. 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. President of Ares at the time, he stood alone, observing the partygoers, content being a fly on the wall. Ares Management CEO Michael Arougheti discusses consolidation in the asset management industry with Bloomberg's Erik Schatzker at the Bloomberg Invest virtual conference. There are 6 executives at Ares Management Corp getting paid more, with David B. Kaplan having the highest compensation of $54,974,317. What I've been pleased with is in our portfolios, inflation is present, it has shifted from cost of goods to cost of labor, at least in our US portfolios, but the margins are still at or near all time highs. Michael's personal network of family, friends, associates & neighbors include Elinor Bly, Joel Arougheti, Jeanne Arougheti, Paul Arougheti and Florence Stepper.