Ares Management has appointed Kipp deVeer to its board of directors, effective immediately. Concurrently, John Kissick, now a retired co-founder of Ares, is stepping down from the board.
deVeer, who joined Ares in 2004, is a partner and head of the Ares Credit Group. He serves as a member of the Ares Executive Management Committee and the firm’s Management Committee. deVeer also serves as chief executive officer and director of Ares Capital Corporation.
“It is with great pleasure that we welcome Kipp to our Board. He has proven to be a major contributor to our success and an invaluable asset across the firm,” said Tony Ressler, executive chairman of Ares.
Michael Arougheti, Chief Executive Officer and President of Ares,
Kissick was a co-founder of Ares in 1997, and for the next nearly two decades, he helped lead the firm as a partner and by serving on Ares’ Management Committee as well as several of the firm’s investment committees.
Prior to co-founding Ares, Kissick was an early builder of Drexel Burnham and Apollo Management. He co-founded Apollo Management in 1990 during which time he oversaw and led its capital markets activities from 1990 until 1997, focusing on high yield bonds, leveraged loans, distressed debt and other fixed income assets. Prior to 1990, Kissick was a Senior executive vice president of Drexel Burnham Lambert, where he began in 1975, eventually heading its Corporate Finance Department.
Tony Ressler, executive chairman and co-founder of Ares, said, “There are so many impressive qualities and achievements that come to mind when describing John—his judgment in the investment world, his composure, his ability to keep his focus in rapidly changing markets and, of course, his uncanny sense to always see the big picture. While these professional accomplishments are noteworthy, they feel secondary to John’s true importance to me and to Ares over our 30-plus years of working together, dating back to 1985 when he hired me as an associate at Drexel.”