NEW YORK–(BUSINESS WIRE)–July 28, 2022–
Ares Management Corporation (NYSE: ARES) today announced financial results for its second quarter ended June 30, 2022.
GAAP net income attributable to Ares Management Corporation was $39.7 million for the three months ended June 30, 2022. On a basic basis, net income attributable to Ares Management Corporation per Class A share and non-voting common stock was $0.21 for the three months ended June 30, 2022. On a diluted basis, net income attributable to Ares Management Corporation per Class A share and non-voting common shares was $0.21 for the three months ended June 30, 2022.
Realized income after tax was $233.3 million for the quarter ended June 30, 2022. Realized after-tax income per Class A share and non-voting common shares was $0.74 for the quarter ended June 30, 2022. Fee-related revenue was $219.8 million for the quarter ended June. 30, 2022.
“Despite market volatility and the uncertain macro environment, our second quarter results highlight the resilience and stability of our business as we generated growth of 35% or more in our assets under management and our fee income and we continued to perform well for our investors,” said Michael Arougheti, CEO and President of Ares. “While traditional asset providers have pulled back, we have been active, investing opportunistically for value in our wide range of flexible strategies, which has 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 over $16 billion in gross new commitments in the second quarter and over $30 billion year-to-date,” said Jarrod Phillips, CFO of Ares. “With the launch of several of our largest combined funds in the second half of this year, we have a strong fundraising pipeline for next year.”
Ares has 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 shareholders 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 which will become 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 found in the Investor Resources section of our website.
Ares has released a full and detailed presentation of its second quarter 2022 results, which can be viewed at www.aresmgmt.com in the Investor Resources section of our homepage under Events and Presentations. The presentation is titled “Presentation of Second Quarter 2022 Results”.
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 by telephone or in the live webcast, which will be hosted on a webcast link located on the Investor Resources section home page of our website at www. .aresmgmt.com. Please visit the website to test your connection before webcasting. 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 be required to enter the passcode 920290. All callers are asked to dial the number 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 until August 25, 2022 for domestic callers by dialing +1 (866) 813-9403 and for international callers by dialing +44 204 525 0658. For all replays, please see access code 124972. An archived replay will also be available until August 25, 2022 at 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 providing clients with complementary primary and secondary investment solutions across the asset classes of credit, private equity, real estate and infrastructure. 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 in assets under management, with more than 2,300 employees operating in North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
The 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 terms such as “outlook”, “believes”, “expects”, “potential”, “continues”, “may”, “will”, “should”, “seeks,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “expects,” or negative versions of these words, other comparable words, or other statements that do not relate to historical or factual matters. Forward-looking statements are based on our beliefs, assumptions and expectations about our future performance, taking into account all information currently available to us. Such statements are not guarantees of performance , conditions or future results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to a number of factors, including those described from time to time in our documents. ents filed 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 obligation 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 the solicitation of an offer to buy securities of Ares or any investment fund managed by Ares or its affiliates.
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CONTACT: Contacts for investor relations
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
SECTOR KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & REAL ESTATE PROFESSIONAL SERVICES FINANCE
SOURCE: Ares Management Company
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PUBLISHED: 07/28/2022 06:00 / DISK: 07/28/2022 06:02