Ares Management Corporation (NYSE:ARES) today reported its
financial results for its fourth quarter and full year ended
December 31, 2021.
GAAP net income attributable to Ares Management
Corporation was $124.1 million and $408.8 million,
respectively, for the quarter and year ended December 31, 2021. On
a basic basis, net income attributable to Ares Management
Corporation per share of Class A and non-voting common stock was
$0.68 and $2.24, respectively, for the quarter and year ended
December 31, 2021. On a diluted basis, net income attributable to
Ares Management Corporation per share of Class A and non-voting
common stock was $0.66 and $2.15, respectively, for the quarter and
year ended December 31, 2021.
After-tax realized income was $291.1 million and $803.7
million, respectively, for the quarter and year ended December 31,
2021. After-tax realized income per share of Class A and non-voting
common stock was $0.85 and $2.57, respectively, for the quarter and
year ended December 31, 2021. Fee related earnings were $253.3
million and $712.3 million, respectively, for the quarter and year
ended December 31, 2021.
“2021 was a transformational year for Ares as we exceeded $300
billion of AUM for the first time on growth of 55% for the year and
closed two highly strategic acquisitions,” said Michael Arougheti,
Chief Executive Officer and President of Ares. “We had record
organic fundraising of $25 billion in the fourth quarter and
approximately $77 billion for the full year, well in excess of our
expectations, as both institutional and retail investors are seeing
the benefits of the higher returns and lower volatility that we
generate with our alternative investments.”
“All key financial metrics were at record levels in the fourth
quarter, including assets under management, fee related earnings
and after-tax realized income, all having increased more than 50%
on a year over year basis,” said Jarrod Phillips, Chief Financial
Officer of Ares. “Our strong fund performance drove record levels
of net realized performance income and fee related performance
revenues in the fourth quarter. Even with our strong realization
activity in 2021, our net accrued performance income increased 130%
year over year.”
Common Dividend
Ares declared a quarterly dividend of $0.61 per share of its
Class A and non-voting common stock, payable on March 31, 2022 to
its Class A and non-voting common stockholders of record at the
close of business on March 17, 2022.
Dividend Reinvestment Program
Ares has a Dividend Reinvestment Program for its Class A common
stockholders that will be effective for the quarterly dividend on
March 31, 2022. American Stock Transfer and Trust Company is
engaged to administer the plan on behalf of Ares. Additional
information can be located on the Investor Resources section of our
website.
Additional Information
Ares issued a full detailed presentation of its fourth quarter
and full year 2021 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 2021 Earnings Presentation."
2022 Annual Stockholders Meeting
The Board of Directors set April 13, 2022 as the record date for
the Company’s 2022 Annual Meeting of Stockholders. The 2022 Annual
Meeting of Stockholders will be held on June 9, 2022.
Conference Call and Webcast Information
Ares will host a conference call on February 11, 2022 at 12:00
p.m. (Eastern Time) to discuss fourth quarter and full year
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 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
4069073 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 March 11,
2022 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 10162150. An archived
replay will also be available through March 11, 2022 on a webcast
link located on the Home page of the Investor Resources section of
our website.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global
alternative investment manager offering clients complementary
primary and secondary investment solutions across the credit,
private equity, real estate and infrastructure asset classes. We
seek to provide flexible capital to support businesses and create
value for our stakeholders and within our communities. By
collaborating across our investment groups, we aim to generate
consistent and attractive investment returns throughout market
cycles. As of December 31, 2021, Ares Management Corporation's
global platform had approximately $306 billion of assets under
management, with approximately 2,100 employees operating across
North America, Europe, Asia Pacific and the Middle East. For more
information, please visit www.aresmgmt.com.
Forward-Looking Statements
Statements included herein contain certain “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. Forward-looking statements can
be identified by the use of forward looking words such as
"outlook," "believes," "expects," "potential," "continues," "may,"
"will," "should," "seeks," "predicts," "intends," "plans,"
"estimates," "anticipates," "foresees" or negative versions of
those words, other comparable words or other statements that do not
relate to historical or factual matters. The forward-looking
statements are based on our beliefs, assumptions and expectations
of our future performance, taking into account all information
currently available to us. 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 but not limited to the impact of the COVID-19
pandemic and the pandemic's impact on the U.S. and global economy,
as well as those described from time to time in our filings with
the Securities and Exchange Commission. Any forward-looking
statement speaks only as of the date on which it is made. Ares
Management Corporation undertakes no duty to update any
forward-looking statements made herein or on the webcast/conference
call, whether as a result of new information, future developments
or otherwise, except as required by law.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220210006088/en/
Investor Relations Carl Drake cdrake@aresmgmt.com (800)
340-6597
Greg Mason gmason@aresmgmt.com (800) 340-6597
Cameron Rudd crudd@aresmgmt.com (800) 340-6597
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