Ares Management Corporation Reports First Quarter 2022 Results
28 April 2022 - 12:00PM
Business Wire
Ares Management Corporation (NYSE:ARES) today reported its
financial results for its first quarter ended March 31, 2022.
GAAP net income attributable to Ares Management
Corporation was $45.9 million for the quarter ended March 31,
2022. On a basic and diluted basis, net income attributable to Ares
Management Corporation per share of Class A and non-voting common
stock was $0.24 for the quarter ended March 31, 2022.
After-tax realized income was $206.7 million for the
quarter ended March 31, 2022. After-tax realized income per share
of Class A and non-voting common stock was $0.65 for the quarter
ended March 31, 2022. Fee related earnings were $205.7 million for
the quarter ended March 31, 2022.
“Despite the challenging markets and significant volatility, we
continued our strong growth in our core financial metrics during
the first quarter, including 59% year over year growth in our fee
related earnings,” said Michael Arougheti, Chief Executive Officer
and President of Ares. “With a record $92 billion of available
capital to invest, a robust fundraising pipeline over the next 18
months and compelling fund performance, we remain well positioned
to make opportunistic investments and to continue our earnings
growth in the coming quarters and years.”
“With $13.7 billion of gross capital raised during the first
quarter, our investors continue to recognize our ability to perform
well throughout market cycles,” said Jarrod Phillips, Chief
Financial Officer of Ares. “Our accrued net performance income
doubled over the past 12 months which we believe represents our
strong fund performance and signifies our future potential to
realize more substantial longer term performance income.”
Common Dividend
Ares declared a quarterly dividend of $0.61 per share of its
Class A and non-voting common stock, payable on June 30, 2022 to
its Class A and non-voting common stockholders of record at the
close of business on June 16, 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
June 30, 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 first quarter
2022 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 "First Quarter 2022
Earnings Presentation."
Conference Call and Webcast Information
Ares will host a conference call on April 28, 2022 at 11:00 a.m.
(Eastern Time) to discuss first 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
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 1483165 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 May 28, 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
2663600. An archived replay will also be available through May 28,
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 March 31, 2022, Ares Management Corporation's global
platform had approximately $325 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 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/20220427006207/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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