Apollo Management - Affiliated Businesses - Ares Management

Ares Management

Type Private
Founded 1997, 2002 (independent)
Website www.aresmgmt.com

Ares Management, founded in 1997, was initially established to manage a $1.2 billion market value collateralized debt obligation vehicle. Ares would grow to manage a family of collateralized loan obligation (CLO) vehicles that would invest in capital markets-based securities including senior bank loans and high-yield and mezzanine debt. Ares was founded by Antony Ressler and John H. Kissick, both partners at Apollo as well as Bennett Rosenthal, who joined the group from the global leveraged finance group at Merrill Lynch.

Ares I and II which were raised were structured as market value CLOs. Ares III though Ares X were structured as cash flow CLOs. In 2002, Ares completed a spinout from Apollo management. Although technically, the founders of Ares had completed a spinout with the formation of the firm in 1997, they had maintained a close relationship with Apollo over its first five years and operated as the West Coast affiliate of Apollo. Shortly thereafter, Ares completed fundraising for Ares Corporate Opportunities Fund, a special situations investment fund with $750 million of capital under management.

In 2004, Ares debuted a publicly traded business development company, Ares Capital Corporation (NASDAQ:ARCC). In 2006, Ares raised a $2.1 billion successor special situations fund (Ares Corporate Opportunities Fund II).

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Other articles related to "ares management, ares, are":

Apollo Management - Affiliated Businesses - Ares Management
... Type Private Founded 1997, 2002 (independent) Website www.aresmgmt.com Ares Management, founded in 1997, was initially established to manage a $1.2 billion market value ... Ares would grow to manage a family of collateralized loan obligation (CLO) vehicles that would invest in capital markets-based securities including senior bank ... Ares was founded by Antony Ressler and John H ...
Ares Management - Operations
... Ares’ investment activities are conducted through three business platforms Ares Capital Markets Group, manages U.S ... Ares Private Debt Group, The Private Debt Group manages the assets of Ares Capital Corporation, Ares Capital Europe, and other funds and primarily invests in self-originated senior and mezzanine debt ... Ares Private Equity Group, The Private Equity Group makes opportunistic majority or shared-control investments, principally in under-capitalized middle market companies ...

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