Ares Management Announces New Senior Leadership Changes
18 December 2017 - 10:30PM
Business Wire
Michael J Arougheti Appointed Chief Executive
Officer
Tony Ressler to Serve as Executive Chairman
Michael McFerran Appointed Chief Operating
Officer
Ryan Berry Appointed Chief Marketing &
Strategy Officer
Ares Management, L.P. (NYSE:ARES) announced today it has made
several executive appointments, effective January 1, 2018.
- Co-Founder and President Michael J
Arougheti has also been named Chief Executive Officer of Ares
Management. This promotion reflects the many contributions Mr.
Arougheti has made to the successful expansion of the Ares platform
and recognizes his vision for its continued growth, his public
company executive experience, and his demonstrated company and
industry leadership over the past 13 years.
- Co-Founder, Chief Executive Officer,
and Chairman Tony Ressler will continue as Executive Chairman of
Ares Management where he will primarily focus on major client
marketing, corporate strategy and brand building activities for the
firm.
- Chief Financial Officer Michael
McFerran has also been appointed as Ares’ Chief Operating Officer
in addition to continuing to serve as Ares’ Chief Financial
Officer. He will now oversee all of Ares’ Finance and Accounting,
Information Technology, Operations and Human Resources
activities.
- Head of Ares’ Strategy &
Relationship Management Group Ryan Berry is being appointed to
Chief Marketing & Strategy Officer.
- Ryan Berry and Michael McFerran will
also join the board of Ares Partners Holdco LLC, the sole owner of
the general partner of Ares, and will serve alongside current
members Michael Arougheti, Tony Ressler, Co-Founders and Global
Private Equity Co-Heads David Kaplan and Bennett Rosenthal and
Global Head of Credit Kipp deVeer. Michael Weiner will continue to
independently advise the board in his role as Chief Legal
Officer.
These promotions and new roles reflect both the successful
growth of the Ares platform and recognize each individual’s
valuable and ongoing contributions to the Company’s continued
success and trajectory in achieving its strong growth objectives.
Since its IPO in 2014, Ares has grown its assets under management
by approximately 37% and its Economic Net Income has increased by
approximately 44% on a comparative last twelve month basis.
“Today’s appointments recognize the tremendous contributions
that Mike Arougheti, Mike McFerran, and Ryan Berry have made in
leading Ares during its recent growth while remaining equally
committed to preserving our unique corporate culture,” said Mr.
Ressler. “Mike Arougheti was instrumental in building and growing
our Credit Group and expanding our businesses in the U.S. and
Europe, and now is the time for him to assume greater oversight of
all of Ares.”
Mr. Ressler continued, “Over the past two years, both Mike
McFerran and Ryan Berry have been improving a range of critical
business operations and marketing functions across the Firm. As
Executive Chairman, I look forward to continuing to work closely
with each of them as we continue to create meaningful value for our
clients and unitholders.”
“I greatly appreciate the Board’s confidence in me, and I am
grateful for the opportunity to continue to work closely with our
deep executive team to expand investment opportunities and continue
to grow our platform, better serve our growing investor base and
take advantage of the significant strategic opportunities ahead,”
said Mr. Arougheti.
“As Ares has continued to grow, with assets under management
that this year crossed the $100 billion mark, I look forward to
working with our extraordinary team of talented professionals to
continue to develop our operational capabilities and infrastructure
to support the continued growth of Ares,” said Mr. McFerran. “The
ability to foster better integration, collaboration and partnership
across our non-investment functions will allow us to scale more
effectively and drive competitive advantages.”
“We have a great opportunity to significantly deepen and broaden
our investor relationships given the growing interest in the strong
track records, market positioning and product breadth of our
Credit, Private Equity and Real Estate Groups,” said Mr. Berry.
“With our new CEO’s vision for Ares, and Tony now able to spend
much more time on marketing, brand building and strategy with large
investors around the world, we will be incredibly well-positioned
for future growth.”
Michael Arougheti
Mr. Arougheti is a Co-Founder of Ares and has served as a
Director and the President of Ares Management since 2014. Mr.
Arougheti was instrumental in the growth of Ares Capital
Corporation (NASDAQ: ARCC) from its initial IPO of $165 million in
2004 to its current market capitalization of approximately $7
billion. He is a Partner in the Ares Credit Group, serves on
multiple investment committees, and is a member of the Management
Committee of Ares Management. He also serves as Co-Chairman of Ares
Capital Corporation and as a director of Ares Commercial Real
Estate Corporation (NYSE: ACRE). Mr. Arougheti received a B.A. in
Ethics, Politics and Economics, cum laude, from Yale
University.
Michael McFerran
Since 2015, Mr. McFerran has served as Executive Vice President
and Chief Financial Officer of Ares Management, a Partner in and
Head of the Ares Finance Department, and a member of the Management
Committee of Ares Management. Among other duties, he serves as a
member of the Ares Operations Management Group and the Ares
Enterprise Risk Committee. Prior to joining Ares in March 2015, Mr.
McFerran was a Managing Director at KKR where he was Chief
Financial Officer of KKR’s credit business and Chief Operating
Officer and Chief Financial Officer at KKR Financial Holdings LLC.
Mr. McFerran holds an M.B.A. from the Haas School of Business at
U.C. Berkeley and a B.S. in Business Administration from San
Francisco State University.
Ryan Berry
Mr. Berry is the Head of the Ares Strategy & Relationship
Management Group and a member of the Management Committee of Ares
Management. He is responsible for supporting the ongoing global
expansion of the Firm with his teams of relationship managers and
M&A professionals. Mr. Berry joined Ares in 2005 and spent
several years working as an investment professional in the Ares
Private Equity Group. Mr. Berry holds a B.A., with distinction,
from the Ivey Business School at Western University in Business
Administration and a B.A. from Huron University College at Western
University in Cross Disciplinary Studies.
About Ares Management, L.P.
Ares Management, L.P. is a publicly traded, leading global
alternative asset manager with approximately $106 billion of assets
under management as of September 30, 2017 and more than 15 offices
in the United States, Europe and Asia. Since its inception in 1997,
Ares has adhered to a disciplined investment philosophy that
focuses on delivering strong risk-adjusted investment returns
throughout market cycles. Ares believes each of its three distinct
but complementary investment groups in Credit, Private Equity and
Real Estate is a market leader based on assets under management and
investment performance. Ares was built upon the fundamental
principle that each group benefits from being part of the greater
whole. For more information, visit www.aresmgmt.com.
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MediaMendel CommunicationsBill Mendel,
212-397-1030bill@mendelcommunications.comorInvestor
RelationsAres Management, L.P.Carl Drake,
800-340-6597cdrake@aresmgmt.com
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