LOS ANGELES–(BUSINESS WIRE)–Ares Management Corporation (NYSE:ARES) today reported its financial
results for its fourth quarter and year ended December 31, 2018.
“Despite market volatility in the fourth quarter, we reported strong
fourth quarter earnings which concluded a great year for Ares with year
over year growth in our fee related earnings and realized income of 18%
and 21%, respectively,” said Michael Arougheti, Chief Executive Officer
of Ares. “We also raised gross capital of more than $10 billion in the
fourth quarter, bringing full year gross fundraising to a record $36
billion, driving AUM growth of 23%.”
“We ended 2018 with over $28 billion of AUM raised but not yet deployed
and earning fees, putting us in an excellent position to drive future
earnings growth in 2019,” said Michael McFerran, Chief Operating Officer
and Chief Financial Officer of Ares. “Based on our expected fee related
earnings growth and our favorable business outlook, we have elected to
increase our quarterly common stock dividend by 14% to $0.32 per share.”
Ares declared a quarterly dividend of $0.32 per share of its Class A
common stock, payable on March 29, 2019 to its Class A common
stockholders of record at the close of business on March 15, 2019.
Ares declared a quarterly dividend of $0.4375 per share of its Series A
preferred stock with a payment date of March 31, 2019 to its Series A
preferred stockholders of record as of the close of business on
March 15, 2019.
Ares issued a presentation regarding its fourth quarter and full year
2018 results, which can be viewed at www.aresmgmt.com
on the Investor Resources section of our home page under Events and
Presentations. The presentation is titled “Fourth Quarter and Full Year
2018 Earnings Presentation.” We also filed our Fourth Quarter and Full
Year 2018 Earnings Presentation on Form 8-K for the year ended
December 31, 2018 with the U.S. Securities and Exchange Commission on
February 14, 2019 and will file our Annual Report on Form 10-K for the
year ended December 31, 2018 with the U.S. Securities and Exchange
Commission by February 28, 2019. Copies of our filings with the SEC are
available through our website at www.aresmgmt.com by
selecting the SEC Filings sub-tab under the Investor Resources section,
as well as on the SEC’s website at www.sec.gov.
Stockholders can request a printed copy of the complete audited
financial statements free of charge upon request to [email protected] or
by written request addressed to Ares Management Corporation, Attn:
Investor Relations, 245 Park Ave, 44th Floor New York, NY 10167.
Conference Call and Webcast Information
Ares will host a conference call on February 14, 2019 at 12:00 p.m. ET
to discuss fourth quarter and full year 2018 results. All interested
parties are invited to participate via telephone or the live webcast,
which will be hosted on a webcast link located on the Home page of the
Investor Resources section of our website at http://www.aresmgmt.com.
Please visit the website to test your connection before the webcast.
Domestic callers can access the conference call by dialing (888)
317-6003. International callers can access the conference call by
dialing +1 (412) 317-6061. All callers will need to enter the
Participant Elite Entry Number 6811582 followed by the # sign and
reference “Ares Management Corporation” once connected with the
operator. All callers are asked to dial in 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
through March 14, 2019 (Eastern Time) to domestic callers by dialing
(877) 344-7529 and to international callers by dialing +1 (412)
317-0088. For all replays, please reference conference number 10127774.
An archived replay will also be available through March 14, 2019 on a
webcast link located on the Home page of the Investor Resources section
of our website.
About Ares Management Corporation
Ares Management Corporation is a publicly traded, leading global
alternative asset manager with approximately $130.7 billion of assets
under management as of December 31, 2018 and 18 offices in the United
States, Europe, Asia and Australia. 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.
Statements included herein may constitute “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. These statements are not guarantees of future
performance, condition or results and involve a number of risks and
uncertainties. Actual results may differ materially from those in the
forward-looking statements as a result of a number of factors, including
those described from time to time in our filings with the Securities and
Exchange Commission. Ares Management Corporation undertakes no duty to
update any forward-looking statements made herein or on the
Nothing in this press release constitutes an offer to sell or
solicitation of an offer to buy any securities of Ares or an investment
fund managed by Ares or its affiliates.