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. "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." The Private Equity Group segment manages shared control investments in corporate private equity funds. And it's moving around a little bit, right. Randy Frankel, a former managing director at Goldman Sachs, and his Wall Street partners acquired the baseball team the Tampa Bay Rays in 2004. 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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. The best advice I would give now is that you have to lead different people differently. Mike Arougheti, Ares Management LLC: Profile and Biography - Bloomberg Markets Live Now Bloomberg TV+ Bloomberg Markets The Close Romaine Bostick breaks down the day's top stories and trading. Direct Lending Investment Committee and the Ares Equity Income Opportunity Strategy Portfolio Review Committee. Times. Michael has a reported annual income of $100 - 149,999 and a current net worth value of greater than $250,000 - $499,999. And if so, do you think that the markets are already pricing that in? Michael B. Jordan attends the Hollywood Walk Of Fame Star Ceremony honoring Michael B. Jordan on March 1, 2023, in Hollywood, California. Mr. Arougheti also serves on the boards of directors of Operation HOPE, a not-for profit organization focused on expanding economic opportunity in underserved communities through economic education and empowerment. When expanded it provides a list of search options that will switch the search inputs to match the current selection. All Rights Reserved. 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. Last updated: 2 February 2023 at 9:52pm EST. After catching up for an hour recently, tackling a slew of questions and meaty subjects, Mike Arougheti had a question for me. Whitepages people search is the most trusted directory. All Rights Reserved. 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 . Ares Management LP said Dec. 18 that Michael J Arougheti, co-founder and president, was named CEO effective Jan. 1, replacing Tony Ressler who will continue as executive chairman. Ares Management, however, has been a beneficiary of the current environment. So Michael and his super talented author,wife Nelly (Bly) decided to do it personally, themselves. Ares Management co-founders Tony Ressler and Michael Arougheti provided founding investments and served on the company's investment committee until last year. The estimated net worth of Michael J Arougheti is at least $177 Million dollars as of 2023-02-12. And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries. Musk Made a Mess at Twitter. What makes our culture special is that its deeply rooted in partnership, in entrepreneurialism, in growth mindset. And I will never forget it. It's just waiting for the market to really open up to be more aggressive. 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. 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. by John Hope Bryant | Feb 28, 2022 | Bryant on Leaders and Leadership, John Hope Bryant Authored, Operation HOPE. 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. And to oversimplify what's a complex series of global flows, it really comes down to a global desire for durable yield. Join now Sign in . Veritas $450M loan default: A sign of things to come? There are no ways to adequately describe a man with conviction. He joined my board of directors for Operation HOPE, and later I joined his board, for a new publicly traded company called Ares Commercial Real Estate REIT. A dream planted, but not much more. in Ethics, Politics and Economics, cum laude, from Yale University. 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. 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 . 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. In the last twelve months, Ares Management insiders bought shares 20 times. Arougheti: Yes, and no. Ressler, an Ares . Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. We obviously navigated the pandemic with a significant amount of government and central bank intervention. 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. Such is the man the world refers to as Michael Arougheti. Picker: So that would imply that fundraising is a bit more challenging as well in PE? Michael Arougheti Expand search. 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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. 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. And I think now we're back to kind of what it used to be, which is to invest my money well, return it, and it could take 12 to 18 months. A sponsor. But ultimately, the market is there, and the demand for the product is there. 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. The Sunset Islands have emerged as a top neighborhood in Miami Beach, especially amid the pandemic. You dont hear people talking about asset-management firms in that light. Picker: What about on the supply side of the equation? 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. The second thing on my mind is that managing in crisis is different than managing status quo. 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. The most recent stock trade was executed by Antony P Ressler on 10 February 2023, trading 16,879 units of ARES stock currently worth $1,436,740. When youre going through this amount of uncertainty, what I found served us well from the first day back in March 2020 was the value of over-communicating and, in many instances, saying that you didnt know. 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. 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. 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. The house at 2535 Shelter Avenue also sold for more than double its previous purchase price in 2020. Picker: As you digest all of that, do you think it's possible to avoid a hard landing? So if you look at recent memory, going through the early days of COVID, in 2020, that felt like it was going to be a severely disrupted market for quite some time. 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. Ryan Berry will become chief marketing and strategy officer. This button displays the currently selected search type. Some people struggled figuring out how to be in that environment. Find the names and birth dates of Arougheti family members, different addresses of residence, family members' occupations as well as death and burial information. And I will never forget it. Are you still seeing that as active? And I think one of the key jobs that we have at Ares is to mine our historical experience and recognize patterns. Director, Co-Founder, Chief Executive Officer and President of Ares. So if you say, cost of goods, inflation, that had an impact on retail, hospitality, consumer facing businesses, as you now shift, and you see easing in that now, maybe you're seeing some pressure on service oriented businesses, you know, that are either facing off with a consumer or trying to navigate a tightening labor market. They did it, because thats simply who they are. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. Ares Management co-founder and CEO Michael. omg. (Clickhereto subscribe to the Delivering Alpha newsletter.). Because if our experience has taught us anything, things can change to the positive as quickly as they change to the negative. Sign up for free newsletters and get more CNBC delivered to your inbox. 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"). Its been such an interesting year because in so many ways, it was probably one of the most challenging of my career. 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 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. 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's mailing address filed with the SEC is 2000 AVENUE OF THE STARS, 12TH FLOOR, LOS ANGELES, CA, 90067. 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. Understanding that really informs how we invest and the types of tools were using to invest into those different pockets. We have pools of capital that are designed to provide liquidity where other means of liquidity are not working. But now there are things like take privates that are being talked about, again, where we're now mining flow in the public market, or rescue financing as some of the distressed strategies that we operate in are starting to be a liquidity provider, given that the liquid markets are effectively closed right now. The largest trade he's ever made was exercising 666,667 units of Ares Management Corp stock on 4 December 2020 worth over $54,453,361. Would you say that's coming back then? So there's a fundamentally different positioning when you manage private capital versus liquid capital. Michael Arougheti is 47, he's been the President, Chief Executive Officer, Co-Founder, and Director of Ares Management Corp since 2018. And so we're also seeing increasing demand for things like real assets and private equity. For me, as a leader, what it also highlighted was the importance of being transparent, empathetic, vulnerable. The Sharpe Angle: Ares Management CEO Michael Arougheti says this macro environment is 'like something we haven't seen before', Don't bet that the bottom is in for what were high-growth tech firms, private equity investors say, Ken Griffins hedge fund Citadel is up again in 2023 following a record year, Third Point's Daniel Loeb takes a passive stake in AMD. CBS News Reports: "It's an entirely new type of weapon." They are most only concerned with the outcome, not the credit. Data is a real-time snapshot *Data is delayed at least 15 minutes. When you look at the economy, its a tale of two cities. Picker:So six to 12 months puts us at what, January? And thats required if you want to see change happen and you want to see it happen quickly and sustainably. And material, at that time, to our very survival. Together, we built The Promise Homes Company into the largest Black controlled owner of singles family residential rental homes in the country, with $150 million in assets. ". (Patrick T. Fallon/Getty Images) 'Nobody is really prepared':. Got a confidential news tip? Currently, Mr. Arougheti is Co-Chairman of Ares Acquisition Corp., President, Chief Executive Officer & Director at Ares Management Corp., Co-Chairman & Executive Vice President at Ares Capital Corp., Director, CEO & President at Ares Management LLC, President, Chief Executive Officer & Director at Ares Management GP LLC and Co-Chairman and Executive Vice President at Ares Management Corp (Private Equity) (which are all subsidiaries of Ares Management Corp.) and Senior Advisor at Volery Capital Partners LLC. Just life family. Thank you Michael Arougheti. 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. Aroughetis noting of the importance of being transparent, empathetic, vulnerable is telling and admitting that many of us coming through the finance track are not classically trained in emotional intelligence. That was June, 2017. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Whats interesting about this environment is that we had to pivot from growth opportunity in our business to real crisis management, and now we find ourselves in this in-between place were still in the middle of a crisis, but the business is not projecting itself that way. 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. Mr. Arougheti was instrumental in the growth of Ares. Learn More about Michael J. Arougheti's net worth. Inflation, a hawkish Fed, fears of a recession have all made 2022 a tough environment for investing. I was doing the same, so we struck up a conversation. Mr. Arougheti received a B.A. Ares is no stranger to the single-family rental market; it joined Pretium Partners in a $2.4B joint-venture purchase of Front Yard Residential Corp. which closed in 2021. Not just because people were remote, but because youre also in a much different headspace, balancing home and family and kids. Thats whether youre talking about the corporate economy or the consumer economy. He served two terms as Mayor of Atlanta, one of the fastest growing cities in the world. |, 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. Mayer is widely considered among the best available at his position. This button displays the currently selected search type. How is that easier than to digest? Learn More about insider trades at Ares Management. Picker: Are you surprised by that? Despite that, that issue and I think that's a reflection of, of a consolidation of LP dollars with fewer GPS. 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. 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. Learn More on Michael J. Arougheti's trading history. 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? Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. And we're now seeing the retail investor really take hold as well. And kind. Learn More on Michael J. Arougheti's contact information. And call on him, I did often. now if I can only get you to co-write my current one. 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. While Ares is mostly credit focused, they have built a brand that seems more venerable than many credit shops before them. I was surprised at how quickly people could transition to working remotely. And the thing is, they did it so casually. So, you have to lead in a new way. We had explored the roller coaster of emotions and urgent steps induced by the COVID-19 pandemic. Todd Michael Glaser and Rony Seikaly developed the Sunset Island IV mansion and sold it to the Frankels. 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. 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. What about the companies that are seeking that type of financing? Tue, Mar . There are 6 executives at Ares Management Corp getting paid more, with David B. Kaplan having the highest compensation of $54,974,317. in Ethics, Politics and Economics, cum laude, from Yale University. Picker: And you are not, is this typical for you? This net worth estimate does not reflect any other investments that Mr. Arougheti may own. So, Ares, I think we've been fortunate that we're outperforming not just the public asset management peers, but the markets generally. 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). Most recently, Michael J. Arougheti sold 2,983 shares of the business's stock in a transaction on Thursday, November 10th. So if there is a silver lining to all the challenges globally, right now, we're going into this period of volatility with real strong underpinnings. Learn More on Ares Management's active insiders. 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. Mr. Arougheti also is a member of the Ares Credit Group's U.S. Insiders at Ares Management own 47.4% of the company. 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. 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. 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. 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. I sit here now, a year removed from the beginning of that, and feel that the culture we had built and the strategic positioning of the company we had pursued positioned us well to navigate the crisis. Also in April, investor and Anatomy Fitness owner Chris Paciello flipped a waterfront teardown on Sunset Island I for a 50 percent gain in one month. Helping me was certainly not his job, nor his calling or his role in life, but he never once made me feel like I was secondary to what was his primary. To experiment. And that's obviously pretty attractive to an investor who's looking for certainty of yield. That happens when you surround yourself with the best people, trust them, and lead alongside them neither from the front nor the back. For the last almost 10 years, it seems like almost every market has been correlated and performing well. It required thinking a lot more holistically. and I will never, forget that that conviction, of one Michael Arougheti. 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). Picker: So how would you characterize the credit quality within your portfolio right now? 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: The records show the division opened a case on Dec. 8, 2022, to investigate threats and allegations of child abuse by Michael Haight.

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