Ares Management, L.P. Reports Fourth Quarter and Full Year 2016 Results
February 24 2017 - 6:00AM
Business Wire
Ares Management, L.P. (NYSE:ARES) today reported its financial
results for its fourth quarter and year ended December 31,
2016.
"Our strong fourth quarter results concluded a very good year
for Ares as our earnings rose significantly from stronger
investment performance and higher net investment income," said Tony
Ressler, Chief Executive Officer of Ares. "Our strong financial
performance was broad based as all three of our groups generated
full year growth in economic net income and distributable
earnings."
"During 2016, we continued to enjoy widespread demand from our
existing and new clients with approximately $14 billion in AUM
raised," said Michael Arougheti, President of Ares. "Looking
forward, we are well positioned for fee related earnings growth as
we increase our fee paying AUM by investing our available capital
and benefit from recent strategic initiatives.”
Common DistributionAres declared a quarterly distribution
of $0.28 per common unit, payable on March 24, 2017 to common
unitholders of record at the close of business on March 10,
2017.
Preferred DistributionAres declared a distribution of
$0.4375 per Series A Preferred Unit with a payment date of March
31, 2017 to preferred unitholders of record as of the close of
business on March 15, 2017.
Additional InformationAres issued a full detailed
presentation of its fourth quarter and full year 2016 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 2016 Earnings
Presentation. We also filed our Fourth Quarter and Full Year 2016
Earnings Presentation on Form 8-K for the year ended December 31,
2016 with the U.S. Securities and Exchange Commission on February
24, 2017 and will file our Annual Report on Form 10-K for the year
ended December 31, 2016 with the U.S. Securities and Exchange
Commission on February 27, 2017.
Conference Call and Webcast InformationAres will host a
conference call on February 24, 2017 at 12:00 p.m. ET to discuss
fourth quarter and full year 2016 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
6296107 followed by the # sign and reference “Ares Management,
L.P.” 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 24, 2017
(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 10099239. An archived
replay will also be available through March 24, 2017 on a webcast
link located on the Home page of the Investor Resources section of
our website.
About Ares Management, L.P.Ares Management, L.P. is a
publicly traded, leading global alternative asset manager with
approximately $99 billion of assets under management as of December
31, 2016, including approximately $3.6 billion of AUM pro forma for
Ares Capital Corporation’s acquisition of American Capital, Ltd.,
which closed on January 3, 2017, and more than 15 offices in the
United States, Europe and Asia. 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.
Forward-Looking StatementsStatements 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, L.P.
undertakes no duty to update any forward-looking statements made
herein or on the webcast/conference call.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170224005152/en/
Investor Relations ContactsCarl Drake,
800-340-6597cdrake@aresmgmt.comorVeronica
Mendiolavmendiola@aresmgmt.comorCameron Ruddcrudd@aresmgmt.com
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