NEW YORK–(BUSINESS WIRE)–April 28, 2022–
Ares Management Corporation (NYSE: ARES) today announced financial results for its first quarter ended March 31, 2022.
GAAP net income attributable to Ares Management Corporation was $45.9 million for the three months ended March 31, 2022. On a basic and diluted basis, net income attributable to Ares Management Corporation per Class A share and non-voting common stock was 0.24 $ for the quarter ended March 31, 2022.
Realized income after tax was $206.7 million for the three months ended March 31, 2022. Realized after-tax income per Class A Share and Non-Voting Common Shares was $0.65 for the three months ended March 31, 2022. fee-related revenue was $205.7 million for the quarter ended March 31, 2022.
“Despite challenging markets and significant volatility, we continued strong growth in our key financial metrics during the first quarter, including 59% year-over-year growth in our fee-based revenue,” said Michael Arougheti, CEO and President of Ares. “With a record $92 billion of capital available to invest, a strong fundraising pipeline over the next 18 months and compelling fund performance, we remain well positioned to make opportunistic investments and continue the growth of our earnings over the next few quarters and years.”
“With $13.7 billion in gross capital raised in the first quarter, our investors continue to recognize our ability to perform well through market cycles,” said Jarrod Phillips, chief financial officer of Ares. “Our accumulated net performance income has doubled over the past 12 months, which we believe represents the strong performance of our fund and signifies our future potential to achieve more substantial long-term performance income.”
common dividend
Ares has declared a quarterly dividend of $0.61 per share of its Class A and Non-Voting common stock, payable on June 30, 2022 to its Class A and Non-Voting common shareholders of record at the close of business on June 30, 2022. June 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 June 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.
Further information
Ares has released a full and detailed presentation of its first 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 entitled “Presentation of the results of the first quarter of 2022”.
Conference Call and Webcast Information
Ares will host a conference call on April 28, 2022 at 11:00 a.m. (Eastern Time) to discuss first 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 home page of the Investor Resources section 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 (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 registration number 1483165 followed by the # sign and the reference “Ares Management Corporation” once connected with the operator. All callers are asked to dial the number 10-15 minutes before the call so that name and company information can be collected. For interested parties, an archived replay of the call will be available until May 28, 2022 for domestic callers by dialing (877) 344-7529 and for international callers by dialing +1 (412) 317-0088. For all replays, please reference conference number 2663600. An archived replay will also be available until May 28, 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 March 31, 2022, Ares Management Corporation’s global platform had approximately $325 billion in assets under management, with approximately 2,100 employees operating in North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
Forward-looking statements
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.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220427006207/en/
CONTACT: Investor Relations
Charles Drake
cdrake@aresmgmt.com
(800) 340-6597
Greg Mason
gmason@aresmgmt.com
(800) 340-6597
Cameron Rudd
crudd@aresmgmt.com
(800) 340-6597
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
SECTOR KEYWORD: REIT FINANCE BANKING PROFESSIONAL SERVICES CONSTRUCTION & REAL ESTATE
SOURCE: Ares Management Company
Copyright BusinessWire 2022.
PUBLISHED: 04/28/2022 06:00 / DISK: 04/28/2022 06:02
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