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. The Big Take is the very best of Bloomberg's in-depth, original reporting from around the globe every day. 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. Picker: So how would you characterize the credit quality within your portfolio right now? Whitepages people search is the most trusted directory. So the way that we're approaching it is we're obviously looking for what we think is the best risk adjusted return globally. And then he met with me weekly, for close to four years, making himself fully available to my dream, treating it like it was his own. Picker: And you are not, is this typical for you? Just life family. Data is a real-time snapshot *Data is delayed at least 15 minutes. Finance is an apprentice business, one often hears in this sector. And material, at that time, to our very survival. And so we're also seeing increasing demand for things like real assets and private equity. , thanks for sharing these insights with top executives - super useful. So you know, each cycle is different. But today, I wanted to give just that credit. But there are echoes of the past. Michael J. Arougheti is an entrepreneur and businessperson who founded Ares Management Corp., Ares Management LP, Ares Management LLC and Ares Management Corp (Private Equity) and who has been the head of 8 different companies. 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. So there are a lot of structural competitive advantages that we have as an alt manager, one of the largest is just the structure of our funds. Additionally, Mr. Arougheti is a member of the PATH Organization Leadership Council. Ares is an investor in David Beckhams Inter Miami CF, the Major League Soccer team and the venture that plans to develop a major mixed-use soccer complex in Miami. Mr. Arougheti owns over 9,400 units of Ares Management Corp stock worth over $37,633,080 and over the last 16 years he sold ARES stock worth over $185,033,029. And we've been pretty vocal that again, if all we do is sit on our existing exposures, we can see core earnings growing, you know, in the double digit range just because of the rise in base rates. 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. in Ethics, Politics and Economics, cum laude, from Yale University. I think that if you talk to any leader of an organization, they would tell you that no matter how experienced they were or well prepared for every eventuality, nobody is really prepared for a global pandemic and all of the things that come with it. Id like to think that Ive become more strategic in my thinking, as opposed to just tactical around parts of the business. Michael Arougheti A Co-Founder, Director, Chief Executive Officer & President at Ares Management Mr. Arougheti is Co-Founder, Chief Executive Officer and President, as well as a Director of Ares Management Corporation. Recent buyers of multimillion-dollar homes in South Florida, including Miami Beach and Palm Beach, have been able to flip their properties for big profits due to heightened demand. Moulds, Michael 12/27/1949 2/13/2023 Pierson, Michigan. It's just waiting for the market to really open up to be more aggressive. A lot of people look to their leadership to say, heres where were going and I know that for the following reasons. You take different risks along different time frames. Tampa Bay Rays co-owner sold it for over double his 2020 purchase price, 1635 West 22nd Street with Ares Management's Michael Arougheti and Randy Frankel (Michael Ruiz with LPG, Getty). Direct Lending Investment Committee and the Ares Equity Income Opportunity Strategy Portfolio Review Committee. You cant execute well on a good strategy if you dont have a strong culture, and you cant rally people around core values and a cultural imperative if you dont have the strategic vision for who you are and who the company is. Data is a real-time snapshot *Data is delayed at least 15 minutes. There are 13 older and 6 younger executives at Ares Management Corp. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. Sign up for free newsletters and get more CNBC delivered to your inbox. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Arougheti:I think, for traditional private equity for many it likely will be. Michael's personal network of family, friends, associates & neighbors include Elinor Bly, Joel Arougheti, Jeanne Arougheti, Paul Arougheti and Florence Stepper. When you look at the economy, its a tale of two cities. Mr. Arougheti received a B.A. So Michael and his super talented author,wife Nelly (Bly) decided to do it personally, themselves. 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. A Division of NBCUniversal. And that's obviously pretty attractive to an investor who's looking for certainty of yield. Michael Arougheti Expand search. We had examined his road map for the year ahead. Michael didnt stop there. in Ethics, Politics and Economics, cum laude, from Yale University. When expanded it provides a list of search options that will switch the search inputs to match the current selection. The estimated Net Worth of Michael J Arougheti is at least $235 Million dollars as of 11 November 2022. Arougheti:Yeah, we're already seeing the pipeline start to build into the end of the year. If you look at institutional allocations to alternatives, they are predicted to double likely over the next five to 10 years at a compound annual growth rate of about 15%. So we're giving a little bit back in the private flow. Sign up for free newsletters and get more CNBC delivered to your inbox. Even to fail in doing that. 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Welcome toHuman Capital, an open exploration of the ideas and people moving financial services forward. 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? 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 . UPDATED, May 10, 12:20 p.m.: Tampa Bay Rays co-owner Randy Frankel more than doubled his money with the sale of his waterfront Miami Beach mansion. Love and authenticity tends to have that effect on people. 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. Michael has a reported annual income of $100 - 149,999 and a current net worth value of greater than $250,000 - $499,999. 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. Michael Arougheti Age : 49 Public asset : 1,047,166,505 USD Country of residence : Unknown Linked companies : Ares Management Corporation - Ares Capital Corporation - Ares Acquisition Corporation - Ares Commercial Real Estate Corporation Biography of Michael Arougheti We found 290 records for Arougheti last name 128 Family Trees 29 Birth, Marriage & Death 19 Census & Voter Lists 8 Immigration & Travel View all records Explore your family history with: Leslie Picker:How long do you think these tailwinds for your business will last? Click Subscribe above to be notified of future editions. The Sunset Islands have emerged as a top neighborhood in Miami Beach, especially amid the pandemic. Michael J Arougheti is the Co-Founder, CEO and President of Ares Management Corp and owns about 1,601,605 shares of Ares Management Corp (ARES) stock worth over $137 Million.Michael J Arougheti is the Executive Vice President of Ares Capital Corp and owns about 1,782,709 shares of Ares Capital . So, Ares, I think we've been fortunate that we're outperforming not just the public asset management peers, but the markets generally. He additionally serves as Co-Chairman of Ares Capital Corporation (NASDAQ: ARCC) (ARCC) and as a director of Ares Commercial Real Estate Corporation (NYSE: ACRE) (ACRE). So, there are big parts of our corporate-opportunities and distressed and special-situations businesses that are very busy in those more stressed parts of the market. Its accelerated, the participation is broader, and added to that is a heightened sense of urgency. That will help accelerate us on the other side of this. 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. And then the friendship came. All that being said, you also have to be measured in the way that you deploy through a cycle. Arougheti: For us and others that look like us, it's been as good as we've seen in quite some time. So when the markets get challenged, that's when our investment opportunity becomes the most attractive. Copyright 2018 | John Hope Bryant and JohnHopeBryantHoldings, LLC | All rights reserved. The investment management firm has about $325 billion of assets under management, according to its website. Ares Management's global platform had $149 billion of assets under management as of March 31, 2020 with more than 1,200 employees in over 20 offices in more than 10 countries. 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. "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." Some people struggled figuring out how to be in that environment. I'd subscribe to that podcast on a heartbeat, People will forget what you said, people will forget what you did, but people will never forget how you made them feel.. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. When you get to a certain size as an organization, you have to appreciate that you inspire different people differently. For me. Most recently, Michael J. Arougheti sold 2,983 shares of the business's stock in a transaction on Thursday, November 10th. I think what we do well is we tend to avoid big mistakes. Ares Management Corporation (NYSE:NYSE:ARES) Q1 2022 Earnings Conference Call April 28, 2022 11:00 AM ETCompany ParticipantsCarl Drake - Head, Public Markets, Investor Relations Michael. So when you're in an environment now, where the cost of financing is going up, maybe the availability of financing is going down, and rates are rising, putting pressure on discount rates, the markets will pause to try to evaluate where assets will clear. Mr. Arougheti owns 470,138 shares of Ares Management stock worth more than $39,077,871 as of March 4th. Arougheti: Yeah, so the good news is about being an alternative manager is we don't have to invest the dollars that our clients give us. But when you go remote, youre effectively letting everybody into your home, whether thats the sights or sounds or just the challenges. I was doing the same, so we struck up a conversation. He is a member of the Ares Executive Management Committee and the firm's. 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. He bought the property for $9.3 million and sold it to the next door neighbor for $14 million. If you turn your attention to Europe, in certain parts of Asia, the story might be different. So I think with private equity specifically, and I wouldn't say the same right now for private credit, and real assets, there's a little bit of a rebalancing that needs to take place just because we're not seeing as many exits. Chart Data in Insider Trading History Table. Thats whether youre talking about the corporate economy or the consumer economy. 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. Convicted. 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. And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries. Learn More on Michael J. Arougheti's trading history. President of Ares at the time, he stood alone, observing the partygoers, content being a fly on the wall. What we found was that we had an employee base that was already incredibly passionate about progress along those initiatives, and over the course of the past year it has grown exponentially. The firm now oversees $197 billion. Thank you Michael Arougheti. Thats not how leadership is classically trained. Mr. Arougheti received an undergraduate degree from Yale University. Learn More about Michael J. Arougheti's net worth. They did this three times. Because if our experience has taught us anything, things can change to the positive as quickly as they change to the negative. [BREAKING] New "Living Missile" to Replace Nuclear Missiles. And then there are a lot of times, which I think are the most powerful, when youre leading from inside, shoulder-to-shoulder with people. Last updated: 2 February 2023 at 9:52pm EST. The records show the division opened a case on Dec. 8, 2022, to investigate threats and allegations of child abuse by Michael Haight. 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. Theres a conversation I had with a very close friend that still sticks with me. 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. Over the last 9 years, insiders at Ares Management Corp have traded over $747,414,700 worth of Ares Management Corp stock and bought 550,746 units worth $8,027,035 I think that's a reflection of the nature of our business. Among leaders of the major alternative-asset managers think Blackstone, Apollo, Carlyle, KKR Arougheti is the understated, cerebral CEO. With hundreds of billions of dollars worth of floating rate credit and real assets, the firm's $200B book has surprisingly held up well. In this role, Ive had to think more holistically about where the business is going. 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. To experiment. Because of what you did to help elevate me and my dreams, with Operation HOPE, and then later with the Promise Homes Company, you too get celebrated as a part of Black History Month. Thats one of the unique things about businesses like ours. A key support beam. What is Michael J. Arougheti's net worth? 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. . They did it, because thats simply who they are. 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). Trusted by millions of genealogists since 2003. Create a free family tree for yourself or for Michael Arougheti and we'll search for valuable new . Director, Co-Founder, Chief Executive Officer and President of Ares. CINCINNATI (WXIX) - Former Notre Dame All-American tight . CBS News Reports: "It's an entirely new type of weapon." The house at 2535 Shelter Avenue also sold for more than double its previous purchase price in 2020. 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. Thank you!! Typically when you go through a crisis of this magnitude, its a little slower to recover in terms of the new-deal market, and it tends to be much more distressed. What Im hoping is that we can continue to have that mindset as we scale. Enter your email address below to get our daily insider buying and selling report. After catching up for an hour recently, tackling a slew of questions and meaty subjects, Mike Arougheti had a question for me. How is that easier than to digest? How do you preserve that at scale? As the President, Chief Executive Officer, Co-Founder, and Director of Ares Management Corp, the total compensation of Michael Arougheti at Ares Management Corp is $12,665,700. He serves on the Ares Exe Read More Contact Michael Arougheti's Phone Number and Email Last Update 11/21/2022 1:55 PM Email what I remember from interviewing Michael on a panel years ago is his razor sharp intelligence! Michael's mailing address filed with the SEC is 2000 AVENUE OF THE STARS, 12TH FLOOR, LOS ANGELES, CA, 90067. This button displays the currently selected search type. Jobs People Learning Dismiss Dismiss. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. Michael Arougheti Mr. Arougheti is a Co-Founder of Ares and has served as a Director and the President of Ares Management since 2014. So there's a fundamentally different positioning when you manage private capital versus liquid capital. 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. So I've been encouraged by that from an activity and deployment level. Got a confidential news tip? 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. My sense is that in this new administration, we will see more. Whats unique about where we are now is I cant remember a cycle where weve had such a balance in healthy-company opportunity and distressed opportunity. Miami-based House of One designed the interiors. So if you look at the positioning of most portfolios, they were, if not fully invested in moving towards full investment, and enjoyed great performance in 2021. Ressler, an Ares . Find the names and birth dates of Arougheti family members, different addresses of residence, family members' occupations as well as death and burial information. On average, Ares Management Corp executives and independent directors trade stock every 19 days with the average trade being worth of $9,916,050. Arougheti: So this is - we're talking about the US specifically. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Yes, I did the work, and I did a great deal of the building, but everything has a start. The . 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"). Michael Arougheti, co-founder and CEO of Ares Management, joins "Squawk Box" by phone to discuss the markets and the unprecedented economic turmoil driven by the coronavirus outbreak. 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. Times. But every time I speak with my friend Tony Ressler, I also feel and see the heart of Michael Arougheti, because Michael introduced me to Tony. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Arougheti:So what it really means is one of the ways to think about this credit cycle, or this potential recessionary environment in the US is that it may likely be sector specific. In the last twelve months, Ares Management insiders bought shares 20 times. And I also think that some of the large public platforms similarly continue to raise money. And that's pretty attractive to most investors right now. And I will never forget it. The oldest executive at Ares Management Corp is Paul Joubert, 72, who is the Independent Director. The simple reason for that is you have this bifurcation in the economy and within the consumer, and it will show up in different places as we continue to recover from this. 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Arougheti: Ares has a history of navigating volatile markets well, so if you look at the history of the firm, the period of growth for us it was the largest was through the global financial crisis and through COVID. Last month, Reed Smith attorney Constantine Karides paid $17.3 million for a waterfront home on Sunset Island I. Ares Management CEO Michael Arougheti discusses consolidation in the asset management industry with Bloomberg's Erik Schatzker at the Bloomberg Invest virtual conference. And, myself included, that can often be very hard to do you tend to create boundaries between your work self and your home self. Learn More about Michael J. Arougheti's net worth. The Real Estate Group segment provides debt, mortgage loans, and equity capital to borrowers, property owners, and real estate developers. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. You dont hear people talking about asset-management firms in that light. 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. 2023 CNBC LLC. ", (The below has been edited for length and clarity. You had a picture of it!!! Randy Frankel, a former managing director at Goldman Sachs, and his Wall Street partners acquired the baseball team the Tampa Bay Rays in 2004. Dismiss. And there are certain times when you have to lead from the back, letting others step up to drive the organization forward while you push it along and clean things up from the back. Such a comment is admirable, and reflects a more mindful leadership. So that in and of itself is not surprising. When you get into a period like we went through in March and April of last year, its very hard for a lot of leaders to say that they dont know. |, 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. -0.38 -0.45%. It's also a reflection, I think of the investors understanding that embedded value that sits in our private credit portfolios. Or is it faster or slower? The move comes as Ares business becomes more complex and larger with $106bn assets under management in real estate, private equity and . this connects so much to was you said on monday in the call about "executive presence" when you mentioned "project an image, a feeling, an ambiance" when you gave tips for everyday executive presence. And then there are big parts of our business that are investing in health care and technology and single-family residential and all of the things that are doing well. Following the completion of the sale, the chief executive officer now directly owns 470,138 shares of the company's stock, valued at $39,971,132.76. 1635 West 22nd Street (Michael Ruiz with LPG). This chart shows Michael J Arougheti's buying and selling at Ares Management by year and by quarter. 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.