Daily News: February 14, 2019

Ares Management Ends 2018 with Strong Fourth Quarter


Ares Management 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, CEO 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.