Ares Management, L.P. Reports Third Quarter 2017 Results
November 03 2017 - 6:00AM
Business Wire
Ares Management, L.P. (NYSE:ARES) today reported its financial
results for its third quarter ended September 30, 2017.
"Ares generated record levels of fee related and distributable
earnings during the third quarter driven by continued strong growth
in our management fees and the partial monetization of several
successful investments," said Tony Ressler, Chief Executive
Officer of Ares. “Our investment performance and platform expansion
has contributed to our strong fundraising with more than $5 billion
of inflows during the third quarter and over $16 billion over the
last 12 months.”
“Our year to date double digit growth in our earnings and fee
paying AUM metrics reflect our continuing strong business trends,
including our ability to execute well in our core areas of
fundraising, investing and harvesting gains,” said Michael
Arougheti, President of Ares. “As a result, we believe we are
building the foundation for future value creation for our clients
and unitholders.”
Common Distribution
Ares declared a quarterly distribution of $0.41 per common unit,
payable on December 1, 2017 to common unitholders of record at
the close of business on November 17, 2017.
Preferred Distribution
Ares declared a distribution of $0.4375 per Series A Preferred
Unit with a payment date of December 31, 2017 to preferred
unitholders of record as of the close of business on
December 15, 2017.
Additional Information
Ares issued a full detailed presentation of its third quarter
2017 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 Third Quarter 2017
Earnings Presentation. We also filed our Third Quarter 2017
Earnings Presentation on Form 8-K for the quarter ended
September 30, 2017 with the U.S. Securities and Exchange
Commission on November 3, 2017 and will file our Quarterly
Report on Form 10-Q for the quarter ended September 30, 2017
with the U.S. Securities and Exchange Commission on
November 6, 2017.
Conference Call and Webcast Information
Ares will host a conference call on November 3, 2017 at
11:00 a.m. ET to discuss second quarter 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
9668422 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 December 3, 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 10112890. An archived
replay will also be available through December 3, 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 $106 billion of assets
under management as of September 30, 2017 and more than 15
offices in the United States, Europe, Asia and Australia. 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 Statements
Statements 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/20171103005200/en/
Investor RelationsCarl Drake,
800-340-6597cdrake@aresmgmt.comorVeronica
Mendiolavmendiola@aresmgmt.comorCameron Ruddcrudd@aresmgmt.com
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