Todd Michael Glaser and Rony Seikaly developed the Sunset Island IV mansion and sold it to the Frankels. He additionally serves as Co-Chairman of Ares Capital Corporation ("ARCC"), Co-Chairman of Ares Acquisition Corporation ("AAC") and as a director of Ares Commercial Real Estate Corporation ("ACRE"). Michael J. Arougheti is also Partner at Direct Lending Group, Inc. and Member of Program for Appropriate Technology in Health and on the board of 7 other companies. 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? Thats whether youre talking about the corporate economy or the consumer economy. And the simple answer for that is buyers and sellers need to take time to re agree on what the appropriate price for a company or an asset are. I think Ive always intuitively known that, but Ive gotten more opportunities to test it. He helped me assemble a team, and he introduced me to the language and structure and approach that I would need to implement, to make this new venture successful. Thats the good news and the bad news. And then there are a lot of times, which I think are the most powerful, when youre leading from inside, shoulder-to-shoulder with people. I think what we do well is we tend to avoid big mistakes. View phone numbers, addresses, public records, background check reports and possible arrest records for Michael Arougheti. 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. You had a picture of it!!! Mr. Arougheti received a B.A. Liquidity pumped into the credit markets during the pandemic could stave off a spike in defaults for several years, Ares Management Corp. Chief Executive Officer Michael . 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. Mr. Arougheti oversaw an investment team that originated, managed and monitored a diverse portfolio of middle-market leveraged loans, senior and junior subordinated debt, preferred equity and common stock and warrants on behalf of RBC and other third-party institutional investors. Mr. Arougheti received a B.A. As of 11 November 2022 he still owns at least 460,738 units of Ares Management Corp stock. A Division of NBCUniversal. Michael's personal network of family, friends, associates & neighbors include Elinor Bly, Joel Arougheti, Jeanne Arougheti, Paul Arougheti and Florence Stepper. We had explored the roller coaster of emotions and urgent steps induced by the COVID-19 pandemic. |, They did it, because thats simply who they are, Operation HOPE, U.S. Small Business Administration and U.S. Treasury Host Roundtable to Celebrate Freedmans Bank. Michael J Arougheti is the Co-Founder, CEO and President of Ares Management Corp and owns about 1,601,605 shares of Ares Management Corp (ARES) stock worth over $137 Million.Michael J Arougheti is the Executive Vice President of Ares Capital Corp and owns about 1,782,709 shares of Ares Capital . Got a confidential news tip? Picker:So six to 12 months puts us at what, January? I was doing the same, so we struck up a conversation. Such a comment is admirable, and reflects a more mindful leadership. 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. now if I can only get you to co-write my current one. A sponsor. Would you say that's coming back then? 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. The estimated Net Worth of Michael J Arougheti is at least $235 Million dollars as of 11 November 2022. 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. 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. That's not necessarily true for traditional 60/40 portfolios, when you have money, you have to express a view on what you think is the best opportunity in the market. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. There is a big difference between June and September in terms of a reopening and increased mobility. The estimated net worth of Michael J Arougheti is at least $177 Million dollars as of 2023-02-12. It makes him no less potent, to which Aress rapid global expansion of late is a testament. Direct Lending and Pathfinder Fund Investment Committees, the Ares Equity Income Opportunity Strategy Portfolio Review Committee and the Ares Operations Management Group. And material, at that time, to our very survival. Learn More about insider trades at Ares Management. Mr. Arougheti oversaw an investment team that originated, managed and monitored a diverse portfolio of middle-market leveraged loans, senior and junior subordinated debt, preferred equity and common stock and warrants on behalf of RBC and other third-party institutional investors. Ares Management Corp. is engaged in providing investment management and consultancy services. 2023 CNBC LLC. This tale of two cities is going to be the framework to think about the recovery. So the way that we're approaching it is we're obviously looking for what we think is the best risk adjusted return globally. Over the last 9 years, insiders at Ares Management Corp have traded over $747,414,700 worth of Ares Management Corp stock and bought 550,746 units worth $8,027,035 Certainly, Michael and Nelly would never say an external word. With hundreds of billions of dollars worth of floating rate credit and real assets, the firm's $200B book has surprisingly held up well. I think that's a reflection of the nature of our business. Inflation, a hawkish Fed, fears of a recession have all made 2022 a tough environment for investing. When you think of yourself as a growth company, you manage yourself differently from a cultural and operational standpoint. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. So, how do we get out of crisis mode by getting people back into the office and driving the business forward? Mr. Michael J. Arougheti is a Senior Advisor at Volery Capital Partners LLC, a President, Chief Executive Officer & Director at Ares Management Corp., a Co-Chairman & Executive Vice President. 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. Mr. Arougheti received an undergraduate degree from Yale University. What I've been pleased with is in our portfolios, inflation is present, it has shifted from cost of goods to cost of labor, at least in our US portfolios, but the margins are still at or near all time highs. This net worth estimate does not reflect any other investments that Mr. Arougheti may own. Sometimes all you can do is throw them a life jacket and say swim as hard as you can !. (Patrick T. Fallon/Getty Images) 'Nobody is really prepared':. ", (The below has been edited for length and clarity. Where we are now, were deploying actively in almost every strategy across the firm because of this bifurcation. 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 And that was no accident either. When you look at the economy, its a tale of two cities. When you talk about belonging, youre talking about being able to bring your authentic self to work. A gentle soul and bright spirit left us on Feb. 13 when Michael "Mike" Moulds, age 73, of Pierson, Michigan, passed away unexpectedly. Here are some of the teachers. They purchased a total of 8,706,492 shares worth more than $85,604,376.84. I tried my best to help him with his endeavors and dreams, and he (and his wife Nelly Bly) certainly leaned into mine. The case was due on Jan. 7, meaning the division had to . You cant execute well on a good strategy if you dont have a strong culture, and you cant rally people around core values and a cultural imperative if you dont have the strategic vision for who you are and who the company is. 2023 CNBC LLC. You see, these men of conviction are different. 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. Michael Arougheti is 47, he's been the President, Chief Executive Officer, Co-Founder, and Director of Ares Management Corp since 2018. The estimated net worth of Michael J. Arougheti is at least $39.20 million as of November 10th, 2022. Trusted by millions of genealogists since 2003. But all of our leaders learned to support their people by opening their own lives up to them. 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. Or is it faster or slower? So, there are big parts of our corporate-opportunities and distressed and special-situations businesses that are very busy in those more stressed parts of the market. So, there was something about the shift to remote work that I think broke down some of those barriers and forced people to open their lives up a little bit more to their colleagues. 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And if I didnt say this here, now, I guess no one would ever know. Welcome toHuman Capital, an open exploration of the ideas and people moving financial services forward. by John Hope Bryant | Feb 28, 2022 | Bryant on Leaders and Leadership, John Hope Bryant Authored, Operation HOPE. For me. Mr. Arougheti also is a member of the Ares Credit Group's U.S. Picker: So how would you characterize the credit quality within your portfolio right now? 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. CNBC's Delivering Alpha newsletter 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. I think that if you talk to any leader of an organization, they would tell you that no matter how experienced they were or well prepared for every eventuality, nobody is really prepared for a global pandemic and all of the things that come with it. You take different risks along different time frames. He bought the property for $9.3 million and sold it to the next door neighbor for $14 million. 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. Got a confidential news tip? 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. Get this delivered to your inbox, and more info about our products and services. Russia's war on Ukraine latest: Putin casts war as battle for nation's survival, India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon, French media billionaire Niel fails with bid for TNT television frequence - Arcom. Arougheti: So this is - we're talking about the US specifically. On average, Ares Management Corp executives and independent directors trade stock every 19 days with the average trade being worth of $9,916,050. For me. Michael Arougheti, co-founder and CEO of Ares Management, joins "Squawk Box" by phone to discuss the markets and the unprecedented economic turmoil driven by the coronavirus outbreak. Get this delivered to your inbox, and more info about our products and services. Convicted. Picker: So that would imply that fundraising is a bit more challenging as well in PE? 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. Theres always this debate about whats more important, culture or strategy. And then the friendship came. But they did it. SAN LORENZO, Calif. - Michael "Mike" Simon, 61, passed away peacefully on Feb. 23, 2023 with family by his side, after a year-long fight with brain cancer. Prior to joining Indosuez in 1994, Mr. Arougheti worked at Kidder, Peabody & Co., where he was a member of the firm's Mergers and Acquisitions Group. From media and technology to finance and real estate, leagues and teams across the globe have matured into far more than just back page entertainment. Because of what you did to help elevate me and my dreams, with Operation HOPE, and then later with the Promise Homes Company, you too get celebrated as a part of Black History Month. And if so, do you think that the markets are already pricing that in? What I continue to learn every time I delegate and trust, every time we give somebody a part of the business to run and hold accountable for success, is it just turbocharges the growth here. And thanks to that early vote of confidence, and the early stage founding capital from Michael Arougheti and Tony Ressler in early 2017, last late last year, in December, 2021, the company itself standing on its own now secured its own $200 million credit facility: Now reportedly the largest capital raise for a Black owned company in a decade, according to Black Enterprise. Marko Gojanovic of One Sothebys International Realty represented the Frankels in the latest sale, and Reid Heidenry with the same firm represented Arougheti. Understanding that really informs how we invest and the types of tools were using to invest into those different pockets. Veritas $450M loan default: A sign of things to come? Additionally, Mr. Arougheti is a member of the PATH Organization Leadership Council. But every time I speak with my friend Tony Ressler, I also feel and see the heart of Michael Arougheti, because Michael introduced me to Tony. He tipped the scale of HOPE for me, on several occasions. And our family has been enriched, spiritually and emotionally, from that bond, the most. Arougheti: Yes and no. After catching up for an hour recently, tackling a slew of questions and meaty subjects, Mike Arougheti had a question for me. The investment management firm has about $325 billion of assets under management, according to its website. 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. Director, Co-Founder, Chief Executive Officer and President of Ares. This button displays the currently selected search type. This button displays the currently selected search type. A dream planted, but not much more. They did it, because thats simply who they are. So when the markets get challenged, that's when our investment opportunity becomes the most attractive. So we're giving a little bit back in the private flow. what I remember from interviewing Michael on a panel years ago is his razor sharp intelligence! Michael and I met casually, but our bond as brothers and friends, early on, was anything but casual. Are you still seeing that as active? Sticker shock: Ranking South Floridas priciest residential rentals, Here are Chicago's top 10 construction permits issued in May. (Source: Bloomberg) Sign up for free newsletters and get more CNBC delivered to your inbox. Get notified the next time Michael J. Arougheti buys or sells Ares Management stock. Mayer is widely considered among the best available at his position. So we have a ways to go. When you manage an organization through crisis, you learn a lot about yourself, but you also learn a lot about the organization that supports you. Thank you Michael Arougheti. Click Subscribe above to be notified of future editions. And, myself included, that can often be very hard to do you tend to create boundaries between your work self and your home self. And Michael Arougheti, was all of that. Mr. Arougheti also is a member of the Ares Credit Group's U.S. While Ares is mostly credit focused, they have built a brand that seems more venerable than many credit shops before them. My sense is that in this new administration, we will see more. And they have done it for far too many other organizations to name. Picker: Are you surprised by that? So if you look at the positioning of most portfolios, they were, if not fully invested in moving towards full investment, and enjoyed great performance in 2021. Ares Management, however, has been a beneficiary of the current environment. If you look at institutional allocations to alternatives, they are predicted to double likely over the next five to 10 years at a compound annual growth rate of about 15%. He additionally serves as Co-Chairman of Ares Capital Corporation ("ARCC"), Co-Chairman of Ares Acquisition Corporation ("AAC") and as a director of Ares Commercial Real Estate Corporation ("ACRE"). And the thing is, they did it so casually. We wouldn't blame Ares Management Corporation (NYSE:ARES) shareholders if they were a little worried about the fact that Michael Arougheti, the Co-Founder recently netted about US$15m selling . All Rights Reserved. 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. 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. But at the same time, it was probably the most rewarding. But it's been a little bit easier to navigate in the sense that there's not one sector that's getting consistently challenged by the current environment, it's giving people a little bit of a reprieve, now and again. 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. But ultimately, the market is there, and the demand for the product is there. And that opportunity to deploy lasted maybe three weeks. You dont hear people talking about asset-management firms in that light. Michael Arougheti is co-founder, chief executive officer and president, as well as a director of Ares Management Corp. They are most only concerned with the outcome, not the credit. So I've been encouraged by that from an activity and deployment level. The most recent insider tranaction occured on February, 15th when Director Corporate Opportunities F Ares sold 4,770,000 shares worth more than $124,306,200.00. Tue, Mar . They didnt just fill the air with kind platitudes, they filled our bank account with the very resources we needed to go from surviving to thriving, to winning. That was June, 2017. CBS News Reports: "It's an entirely new type of weapon." In addition, he makes $12,665,700 as President, Chief Executive Officer, Co-Founder, and Director at Ares Management Corp. Michael has made over 55 trades of the Ares Management Corp stock since 2008, according to the Form 4 filled with the SEC. The Private Equity Group segment manages shared control investments in corporate private equity funds. Among leaders of the major alternative-asset managers think Blackstone, Apollo, Carlyle, KKR Arougheti is the understated, cerebral CEO. And one small company is building them for the Pentagon! The HOPE Community Credit Score Index A Closer Look at the Twin Identities of Washington, DC. So I don't want to say that that's good. And he did. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. [BREAKING] New "Living Missile" to Replace Nuclear Missiles. Last year, Los Angeles-based Ares made a $150 million preferred equity investment in Inter Miami CF. In the moment, I thought back to the first time I met Arougheti, in a 50,000-square-foot house (not his) (or mine) in Beverly Hills almost a decade ago. So if you look over the last 20 years, we're seeing a meaningful increase in allocations on the part of institutional and retail investors to alternatives. The simple reason for that is you have this bifurcation in the economy and within the consumer, and it will show up in different places as we continue to recover from this. We're not having that experience. Michael B. Jordan attends the Hollywood Walk Of Fame Star Ceremony honoring Michael B. Jordan on March 1, 2023, in Hollywood, California. 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. Aroughetis noting of the importance of being transparent, empathetic, vulnerable is telling and admitting that many of us coming through the finance track are not classically trained in emotional intelligence. So if you look at our $340 billion of assets, over $90 billion of it is unvested. And so we're also seeing increasing demand for things like real assets and private equity. Ares Management Corp executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Whats interesting about this environment is that we had to pivot from growth opportunity in our business to real crisis management, and now we find ourselves in this in-between place were still in the middle of a crisis, but the business is not projecting itself that way. A key support beam. 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. (Photo by Matt Winkelmeyer/Getty Images) Coogler, who has . Ares Management Corporation (NYSE:NYSE:ARES) Q1 2022 Earnings Conference Call April 28, 2022 11:00 AM ETCompany ParticipantsCarl Drake - Head, Public Markets, Investor Relations Michael. Arougheti:So what it really means is one of the ways to think about this credit cycle, or this potential recessionary environment in the US is that it may likely be sector specific. this connects so much to was you said on monday in the call about "executive presence" when you mentioned "project an image, a feeling, an ambiance" when you gave tips for everyday executive presence. And let me just say this it was meaningful. Michael Arougheti is 47, he's been the President, Chief Executive Officer, Co-Founder, and Director of Ares Management Corp since 2018. 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 Sunset Islands have emerged as a top neighborhood in Miami Beach, especially amid the pandemic. Michael J. Arougheti has not been actively trading shares of Ares Management during the past quarter. But the pandemic, as well as the events of the summer around the killing of George Floyd that gave us an opportunity, and an imperative, to double our investment in these initiatives. See above for full video.). 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. Find the names and birth dates of Arougheti family members, different addresses of residence, family members' occupations as well as death and burial information. Ares Management CEO Michael Arougheti discusses consolidation in the asset management industry with Bloomberg's Erik Schatzker at the Bloomberg Invest virtual conference.