Ares Management Corporation Reports Second Quarter 2022 Results
28 Juli 2022 - 12:00PM
Business Wire
Ares Management Corporation (NYSE: ARES) today reported its
financial results for its second quarter ended June 30, 2022.
GAAP net income attributable to Ares Management
Corporation was $39.7 million for the quarter ended June 30,
2022. On a basic basis, net income attributable to Ares Management
Corporation per share of Class A and non-voting common stock was
$0.21 for the quarter ended June 30, 2022. On a diluted basis, net
income attributable to Ares Management Corporation per share of
Class A and non-voting common stock was $0.21 for the quarter ended
June 30, 2022.
After-tax realized income was $233.3 million for the
quarter ended June 30, 2022. After-tax realized income per share of
Class A and non-voting common stock was $0.74 for the quarter ended
June 30, 2022. Fee related earnings were $219.8 million for the
quarter ended June 30, 2022.
“Despite the market volatility and uncertain macro-economic
environment, our second quarter results highlight the resiliency
and stability of our business as we generated growth of 35% or more
in both our assets under management and our fee related earnings
and we continued to perform well for our investors,” said Michael
Arougheti, Chief Executive Officer and President of Ares. “While
traditional asset providers retrenched, we were active, investing
opportunistically for value across our broad set of flexible
strategies which resulted in an increase in our deployment compared
to the first quarter.”
“Our investors continue to entrust us with additional capital
allocations as we raised more than $16 billion in new gross
commitments during the second quarter and over $30 billion year to
date,” said Jarrod Phillips, Chief Financial Officer of Ares. “With
several of our largest commingled funds launching in the second
half of this year, we have a strong fundraising pipeline heading
into next year.”
Common Dividend
Ares declared a quarterly dividend of $0.61 per share of its
Class A and non-voting common stock, payable on September 30, 2022
to its Class A and non-voting common stockholders of record at the
close of business on September 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
September 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 second 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 "Second Quarter 2022
Earnings Presentation."
Conference Call and Webcast Information
Ares will host a conference call on July 28, 2022 at 12:00 p.m.
(Eastern Time) 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
www.aresmgmt.com. Please visit the website to test your connection
before the webcast. Domestic callers can access the conference call
by dialing +1 (844) 200-6205. International callers can access the
conference call by dialing +1 (929) 526-1599. All callers will need
to enter access code 920290. 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 August 25, 2022 to domestic callers
by dialing +1 (866) 813-9403 and to international callers by
dialing +44 204 525 0658. For all replays, please reference access
code 124972. An archived replay will also be available through
August 25, 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 June 30, 2022, Ares Management Corporation's global
platform had approximately $334 billion of assets under management,
with over 2,300 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220727006195/en/
Investor Relations Contacts Carl Drake
cdrake@aresmgmt.com (800) 340-6597 Greg Mason gmason@aresmgmt.com
(800) 340-6597 Cameron Rudd crudd@aresmgmt.com (800) 340-6597
Ares Management (NYSE:ARES)
Historical Stock Chart
Von Feb 2024 bis Mär 2024
Ares Management (NYSE:ARES)
Historical Stock Chart
Von Mär 2023 bis Mär 2024