Similarly, our clients the folks who allocate capital to us are holding us accountable for change. 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. It makes him no less potent, to which Aress rapid global expansion of late is a testament. After catching up for an hour recently, tackling a slew of questions and meaty subjects, Mike Arougheti had a question for me. My experience would tell you that that's usually a six to 12 month process, that has to take into account a shared view of what the economy is going to look like, and take into account what the new financing markets look like. Copyright 2018 | John Hope Bryant and JohnHopeBryantHoldings, LLC | All rights reserved. This button displays the currently selected search type. Ares, led by co-founder and CEO Michael Arougheti, is a global alternative investment manager with roughly $262 billion of assets under management, including its purchase of Black Creek Group. A Division of NBCUniversal. Most recently he sold 9,400 units of ARES stock worth $799,376 on 11 November 2022. 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 Prior to joining Ares in 2004, Mr. Arougheti was employed by Royal Bank of Canada ("RBC") from 2001 to 2004, where he was a Managing Partner of the Principal Finance Group of RBC Capital Partners and a member of the firm's Mezzanine Investment Committee. [BREAKING] New "Living Missile" to Replace Nuclear Missiles. 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. 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 oldest executive at Ares Management Corp is Paul Joubert, 72, who is the Independent Director. That comes with a broader view into different parts of the world and different parts of the organization. Even to fail in doing that. But today, I wanted to give just that credit. Michael and I met casually, but our bond as brothers and friends, early on, was anything but casual. 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? And then surprisingly, when the private markets slow, you usually see public markets challenged as well. Michael's personal network of family, friends, associates & neighbors include Elinor Bly, Joel Arougheti, Jeanne Arougheti, Paul Arougheti and Florence Stepper. 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. The New York Times Reports: "No existing defense can stop it." As I was preparing to take the job, this friend reminded me of the Maya Angelou quote, People will forget what you said, people will forget what you did, but people will never forget how you made them feel. I think that is so poignant as a leader. 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. What does that mean for margins and kind of the stickiness of these high prices? There is a big difference between June and September in terms of a reopening and increased mobility. Moulds, Michael 12/27/1949 2/13/2023 Pierson, Michigan. They made a major commitment to the work of my life, but they did it without fanfare, without press release, and without any desire for their own recognition. Direct Lending and Pathfinder Investment Committees, the Ares Equity Income Opportunity Strategy Portfolio Review Committee and the Ares Sports, Media and Entertainment Investment Committee. They are most only concerned with the outcome, not the credit. Explore historical records and family tree profiles about Michael Arougheti on MyHeritage, the world's family history network. 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. Times. And I will never forget it. I think that, for those of us who embraced it, it created a level of trust, of empathy, of relatability. If the market is healthy, you can pivot to some of the more regular-way buyout and credit investing. Learn More about Michael J. Arougheti's net worth. Ares Management co-founder and CEO Michael Arougheti bought the property, records show. and I will never, forget that that conviction, of one Michael Arougheti. Direct Lending and Pathfinder Investment Committees, the Ares Equity Income Opportunity Strategy Portfolio Review Committee and the Ares Sports, Media and Entertainment Investment Committee. The move comes as Ares business becomes more complex and larger with $106bn assets under management in real estate, private equity and . Mr. Arougheti also is a member of the Ares Credit Group's U.S. Because if our experience has taught us anything, things can change to the positive as quickly as they change to the negative. omg. Of having a willingness to try new things. 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 also is a member of the Ares Credit Group's U.S. Or is it faster or slower? The . 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: In the last twelve months, Ares Management insiders bought shares 20 times. (Clickhereto subscribe to the Delivering Alpha newsletter.). Trusted by millions of genealogists since 2003. In the last twelve months, insiders at the asset manager sold shares 15 times. So we're giving a little bit back in the private flow. 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. Picker: So you've seen a full transition from the cost of goods we've seen, and things like fuel costs go down, lumber go down, other raw materials go down, shift to the cost of wages, which have, of course gone up, not keeping pace with inflation. But there are echoes of the past. The challenge right now is in 2022, given how well the portfolio's performed and how deployed, they were given the significant amount of volume in 2021, the market now is digesting the need for more capital against the backdrop of a lack of capital. Join the conversation with your own take on these topics in the comments below. I think they've got, you know, the increased challenge of the energy crisis and the strong dollar exacerbating the inflation picture for them. While Ares is mostly credit focused, they have built a brand that seems more venerable than many credit shops before them. Michael Arougheti took the reins of alternative-asset manager Ares Management on Jan. 1, 2018. Information on this page was last updated on 2/15/2023. What it really highlighted for me was the importance of being flexible. So we have some publicly traded credit companies, ARCC, ACRE, that largely manage floating rate assets. . So, you have to lead in a new way. 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. I think the good news is its very consistent with my own personal world view. Mr. Arougheti joined Royal Bank of Canada 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. in Ethics, Politics and Economics, cum laude, from Yale University. For the last almost 10 years, it seems like almost every market has been correlated and performing well. 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. Its been such an interesting year because in so many ways, it was probably one of the most challenging of my career. Michael Arougheti Mr. Arougheti is a Co-Founder of Ares and has served as a Director and the President of Ares Management since 2014. Direct Lending Investment Committee and the Ares Equity Income Opportunity Strategy Portfolio Review Committee. in Ethics, Politics and Economics, cum laude, from Yale University. 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. 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. Ares Management can also be reached via phone at (310) 201-4100 and via email at [emailprotected] Learn More on Michael J. Arougheti's contact information. And it's moving around a little bit, right. But all of our leaders learned to support their people by opening their own lives up to them. Michael Arougheti is co-founder, chief executive officer and president, as well as a director of Ares Management Corp. 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. Sticker shock: Ranking South Floridas priciest residential rentals, Here are Chicago's top 10 construction permits issued in May. 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 $39.20 million as of November 10th, 2022. 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. And Michael Arougheti, was all of that. Not just because people were remote, but because youre also in a much different headspace, balancing home and family and kids. Arougheti: Yes, and no. Michael Arougheti:I think we have to talk about secular tailwinds in alternatives, and then maybe some of the cyclical tailwinds that we're seeing as well. 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. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. 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 Picker: As you digest all of that, do you think it's possible to avoid a hard landing? So that in and of itself is not surprising. 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. In addition to that, something thats been true my whole career but Ive come to appreciate lately is just how important it is to build high-quality teams. 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. The corporate mailing address for Mr. Arougheti and other Ares Management executives is 2000 AVE OF THE STARS 12TH FLOOR, LOS ANGELES CA, 90067. Dismiss. Mr. Arougheti received a B.A. Get this delivered to your inbox, and more info about our products and services. But they did it. He was elected Congressman three times and is a leading figure in the civil rights movement. Fortunately weve got enough stimulus that weve now kind of stabilized and bridged. Randy Frankel, a former managing director at Goldman Sachs, and his Wall Street partners acquired the baseball team the Tampa Bay Rays in 2004. Michael has a reported annual income of $100 - 149,999 and a current net worth value of greater than $250,000 - $499,999. Inflation, a hawkish Fed and fears of a recession have all made 2022 a tough environment for investing. CNBC's Leslie Picker sat down with Ares CEO Michael Arougheti who says that "when the markets get challenged, that's when our investment opportunity becomes the most attractive. It additionally provides investors access to directly originated fixed and floating rate credit assets and the ability to capitalize on illiquidity premiums across the credit spectrum. Get notified the next time Michael J. Arougheti buys or sells Ares Management stock. With hundreds of billions of dollars worth of floating rate credit and real assets, the firm's $200B book has surprisingly held up well. So there's a lot to digest. I kind of laugh at that because culture and strategy go hand in hand. Ares Management's investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. They sold a total of 6,394,959 shares worth more than $255,128,106.92. Whats been rewarding for me is that we have spent so much time over the years building culture here around our core attributes of collaboration and social responsibility and entrepreneurialism. Last updated: 2 February 2023 at 9:52pm EST. But, he said as we were about to hang up, I dont ever want to take credit for the efforts and successes of others.. Leslie Picker:How long do you think these tailwinds for your business will last? Among leaders of the major alternative-asset managers think Blackstone, Apollo, Carlyle, KKR Arougheti is the understated, cerebral CEO. There are 6 executives at Ares Management Corp getting paid more, with David B. Kaplan having the highest compensation of $54,974,317. Picker: And you are not, is this typical for you? 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. 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. 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. When you get to a certain size as an organization, you have to appreciate that you inspire different people differently. You set a cultural agenda thats a little bit more willing to take risk and fail along the growth curve, as compared to a traditional, stodgy view of asset management. 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?
