Michael has a reported annual income of $100 - 149,999 and a current net worth value of greater than $250,000 - $499,999. Theres always this debate about whats more important, culture or strategy. Michael Arougheti Age : 49 Public asset : 1,047,166,505 USD Country of residence : Unknown Linked companies : Ares Management Corporation - Ares Capital Corporation - Ares Acquisition Corporation - Ares Commercial Real Estate Corporation Biography of Michael Arougheti Of having a willingness to try new things. Inflation, a hawkish Fed and fears of a recession have all made 2022 a tough environment for investing. Ares Management Corporation (NYSE:NYSE:ARES) Q3 2021 Earnings Conference Call October 27, 2021 12:00 PM ETCompany ParticipantsCarl Drake - Head, Public Company, IRMichael Arougheti -. Id like to think that Ive become more strategic in my thinking, as opposed to just tactical around parts of the business. How is that easier than to digest? So, there are big parts of our corporate-opportunities and distressed and special-situations businesses that are very busy in those more stressed parts of the market. Ryan Berry will become chief marketing and strategy officer. So we have a ways to go. But when you go remote, youre effectively letting everybody into your home, whether thats the sights or sounds or just the challenges. Learn More about Michael J. Arougheti's net worth. We had just dissected his three years as CEO of Ares Management, the publicly traded investment firm managing almost $200 billion in assets. And then it will, it will pick back up again. The most recent insider tranaction occured on February, 15th when Director Corporate Opportunities F Ares sold 4,770,000 shares worth more than $124,306,200.00. Arougheti: Yeah, so the good news is about being an alternative manager is we don't have to invest the dollars that our clients give us. Arougheti:You have to look at it on a relative basis. Ares is no stranger to the single-family rental market; it joined Pretium Partners in a $2.4B joint-venture purchase of Front Yard Residential Corp. which closed in 2021. So I think with private equity specifically, and I wouldn't say the same right now for private credit, and real assets, there's a little bit of a rebalancing that needs to take place just because we're not seeing as many exits. That is going to be an interesting management challenge in and of itself going from crisis management back to ordinary course without losing the progress that weve made operationally and culturally. this connects so much to was you said on monday in the call about "executive presence" when you mentioned "project an image, a feeling, an ambiance" when you gave tips for everyday executive presence. There are no ways to adequately describe a man with conviction. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Convicted. He is so busy doing, executing on his beliefs, that he makes little to no noise of or about himself, as he cuts through the challenges before him. All of those things came to bear immediately when we went into the crisis. The largest trade he's ever made was exercising 666,667 units of Ares Management Corp stock on 4 December 2020 worth over $54,453,361. So Michael and his super talented author,wife Nelly (Bly) decided to do it personally, themselves. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Musk Made a Mess at Twitter. Where we are now, were deploying actively in almost every strategy across the firm because of this bifurcation. And therefore you're not going to see as much transaction volume as people manage their liquidity. He is a member of the Ares Executive Management Committee, the Ares Enterprise Risk Committee and is on the Board of Directors of the Ares Charitable Foundation. And there are certain times when you have to lead from the back, letting others step up to drive the organization forward while you push it along and clean things up from the back. Following the completion of the sale, the chief executive officer now directly owns 470,138 shares of the company's stock, valued at $39,971,132.76. Last updated: 2 February 2023 at 9:52pm EST. Prior to joining Ares in 2004, Mr. Arougheti was employed by Royal Bank of Canada ("RBC") from 2001 to 2004, where he was a Managing Partner of the Principal Finance Group of RBC Capital Partners and a member of the firm's Mezzanine Investment Committee. The oldest executive at Ares Management Corp is PaulJoubert, 72, who is the Independent Director. So I've been encouraged by that from an activity and deployment level. Prior to joining Ares in 2004, Mr. Arougheti was employed by Royal Bank of Canada ("RBC") from 2001 to 2004, where he was a Managing Partner of the Principal Finance Group of RBC Capital Partners and a member of the firm's Mezzanine Investment Committee. If you turn your attention to Europe, in certain parts of Asia, the story might be different. For the last almost 10 years, it seems like almost every market has been correlated and performing well. I think they've got, you know, the increased challenge of the energy crisis and the strong dollar exacerbating the inflation picture for them. This button displays the currently selected search type. Mr. Arougheti also serves on the boards of directors of Operation HOPE, a not-for profit organization focused on expanding economic opportunity in underserved communities through economic education and empowerment. Michael Arougheti Co-Founder, CEO and President at Ares Management New York, New York, United States 7K followers 377 connections Join to follow Ares Management Corporation Yale University. Mr. Arougheti also is a member of the Ares Credit Groups U.S. So, Ares, I think we've been fortunate that we're outperforming not just the public asset management peers, but the markets generally. One of the things that Ive said to my partners here is to think of Ares as a growth company in a growth industry. The New York Times Reports: "No existing defense can stop it." Would you say that's coming back then? So when the markets get challenged, that's when our investment opportunity becomes the most attractive. Find the names and birth dates of Arougheti family members, different addresses of residence, family members' occupations as well as death and burial information. Back to the comment I made about the crisis accelerating trends already in place, we had already been deep into our journey around ESG and diversity, equity, and inclusion. He additionally serves as Co-Chairman of Ares Capital Corporation ("ARCC"), Co-Chairman of Ares Acquisition Corporation ("AAC") and as a director of Ares Commercial Real Estate Corporation ("ACRE"). So the way that we're approaching it is we're obviously looking for what we think is the best risk adjusted return globally. in Ethics, Politics and Economics, cum laude, from Yale University. So if you look at recent memory, going through the early days of COVID, in 2020, that felt like it was going to be a severely disrupted market for quite some time. Hes sort of a walking brain, and I am pretty sure he has a genius IQ. ", (The below has been edited for length and clarity. Trusted by millions of genealogists since 2003. I sit here now, a year removed from the beginning of that, and feel that the culture we had built and the strategic positioning of the company we had pursued positioned us well to navigate the crisis. Arougheti: So this is - we're talking about the US specifically. |, They did it, because thats simply who they are, Operation HOPE, U.S. Small Business Administration and U.S. Treasury Host Roundtable to Celebrate Freedmans Bank. On average, Michael trades about 111,368 units every 78 days since 2006. Or is it faster or slower? My sense is that in this new administration, we will see more. And that's pretty attractive to most investors right now. Get notified the next time Michael J. Arougheti buys or sells Ares Management stock. So if you say, cost of goods, inflation, that had an impact on retail, hospitality, consumer facing businesses, as you now shift, and you see easing in that now, maybe you're seeing some pressure on service oriented businesses, you know, that are either facing off with a consumer or trying to navigate a tightening labor market. Typically when you go through a crisis of this magnitude, its a little slower to recover in terms of the new-deal market, and it tends to be much more distressed. After catching up for an hour recently, tackling a slew of questions and meaty subjects, Mike Arougheti had a question for me. On average, Ares Management Corp executives and independent directors trade stock every 19 days with the average trade being worth of $9,916,050. The Credit Group provides solutions for traditional fixed income investors seeking to access the syndicated bank loan and high yield bond markets and capitalize on opportunities across traded corporate credit. Mr. Arougheti joined RBC in October 2001 from Indosuez Capital, where he was a Principal and an Investment Committee member, responsible for originating, structuring and executing leveraged transactions across a broad range of products and asset classes. For me. I don't think that will end anytime soon. And the thing is, they did it so casually. So we actually tend to see a consolidation of share and maybe counterintuitive and acceleration of capital that comes onto our platform to help navigate. Inflation, a hawkish Fed, fears of a recession have all made 2022 a tough environment for investing. A gentle soul and bright spirit left us on Feb. 13 when Michael "Mike" Moulds, age 73, of Pierson, Michigan, passed away unexpectedly. Whitepages people search is the most trusted directory. Its been such an interesting year because in so many ways, it was probably one of the most challenging of my career. But there are echoes of the past. When you manage an organization through crisis, you learn a lot about yourself, but you also learn a lot about the organization that supports you. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. The best advice I would give now is that you have to lead different people differently. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Michael's personal network of family, friends, associates & neighbors include Elinor Bly, Joel Arougheti, Jeanne Arougheti, Paul Arougheti and Florence Stepper. Treating me, like I was his own. Michael Arougheti is co-founder, chief executive officer and president, as well as a director of Ares Management Corp. The simple reason for that is you have this bifurcation in the economy and within the consumer, and it will show up in different places as we continue to recover from this. Arougheti: Yes, and no. Additionally, Mr. Arougheti is a member of the PATH Organization Leadership Council. People cant leave their home challenges at home, go to work, and then go back to them its all a bit more fluid than that right now. The oldest executive at Ares Management Corp is Paul Joubert, 72, who is the Independent Director. Mr. Arougheti joined RBC in October 2001 from Indosuez Capital, where he was a Principal and an Investment Committee member, responsible for originating, structuring and executing leveraged transactions across a broad range of products and asset classes. What I continue to learn every time I delegate and trust, every time we give somebody a part of the business to run and hold accountable for success, is it just turbocharges the growth here. Thank you Michael Arougheti. what I remember from interviewing Michael on a panel years ago is his razor sharp intelligence! You set a cultural agenda thats a little bit more willing to take risk and fail along the growth curve, as compared to a traditional, stodgy view of asset management. Finance is an apprentice business, one often hears in this sector. Mr. Arougheti oversaw an investment team that originated, managed and monitored a diverse portfolio of middle-market leveraged loans, senior and junior subordinated debt, preferred equity and common stock and warrants on behalf of RBC and other third-party institutional investors. And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries. Arougheti:Yeah, we're already seeing the pipeline start to build into the end of the year. The corporate mailing address for Mr. Arougheti and other Ares Management executives is 2000 AVE OF THE STARS 12TH FLOOR, LOS ANGELES CA, 90067. So, there was something about the shift to remote work that I think broke down some of those barriers and forced people to open their lives up a little bit more to their colleagues. When the markets are so uncertain. That comes with a broader view into different parts of the world and different parts of the organization. Mr. Arougheti received an undergraduate degree from Yale University. Direct Lending and Pathfinder Fund Investment Committees, the Ares Equity Income Opportunity Strategy Portfolio Review Committee and the Ares Operations Management Group. A Division of NBCUniversal. And Michael Arougheti, was all of that. But at the same time, it was probably the most rewarding. Thats not how leadership is classically trained. Click Subscribe above to be notified of future editions. What we found was that we had an employee base that was already incredibly passionate about progress along those initiatives, and over the course of the past year it has grown exponentially. So that was the good news. Michael and I met casually, but our bond as brothers and friends, early on, was anything but casual. Arougheti: Well, this is like something we haven't seen before. Ares Management co-founder and CEO Michael. Ares Management CEO Michael Arougheti breaks down where to find yield in a world of uncertainty DA on CNBCEvents.com Sponsors Previous Years Delivering Alpha Ares Management CEO Michael. And, myself included, that can often be very hard to do you tend to create boundaries between your work self and your home self. A lot of people talk about this idea that crises accelerate trends that are already in place, and I agree with that. And he did. And I also think that some of the large public platforms similarly continue to raise money. Picker: So how would you characterize the credit quality within your portfolio right now? You dont hear people talking about asset-management firms in that light. ". Are you still seeing that as active? They are most only concerned with the outcome, not the credit. in Ethics, Politics and Economics, cum laude, from Yale University. Hence the demand that we see for private credit assets globally, and maybe a dissatisfaction with the performance of traditional 60/40 portfolios and what seems to be more consistent volatility in the traded markets. They made a major commitment to the work of my life, but they did it without fanfare, without press release, and without any desire for their own recognition. And we're now seeing the retail investor really take hold as well. Sticker shock: Ranking South Floridas priciest residential rentals, Here are Chicago's top 10 construction permits issued in May. Ressler, an Ares . And that opportunity to deploy lasted maybe three weeks. CNBC's Leslie Picker sat down with Ares CEO Michael Arougheti who says that "when the markets get challenged, that's when our investment opportunity becomes the most attractive. (Photo by Matt Winkelmeyer/Getty Images) Coogler, who has . You cant execute well on a good strategy if you dont have a strong culture, and you cant rally people around core values and a cultural imperative if you dont have the strategic vision for who you are and who the company is. But most of our portfolio managers and investors are investing at a slower pace than they normally would as they wait to see how these markets develop. What does that mean for margins and kind of the stickiness of these high prices? Arougheti:So what it really means is one of the ways to think about this credit cycle, or this potential recessionary environment in the US is that it may likely be sector specific. So if you look at the amount of issuance that we saw in the high grade market, if you look at the amount of liquidity that's been in the system, companies have built up a pretty substantial war chest of liquidity, and the consumer is coming off of a pretty significant amount of government assistance globally. He helped me assemble a team, and he introduced me to the language and structure and approach that I would need to implement, to make this new venture successful. Michael Arougheti, co-founder and CEO of Ares Management, joins "Squawk Box" by phone to discuss the markets and the unprecedented economic turmoil driven by the coronavirus outbreak. Fortunately weve got enough stimulus that weve now kind of stabilized and bridged. The most recent stock trade was executed by Antony P Ressler on 10 February 2023, trading 16,879 units of ARES stock currently worth $1,436,740. Ares Management Corp. is engaged in providing investment management and consultancy services. When you get to a certain size as an organization, you have to appreciate that you inspire different people differently. The shares were sold at an average price of $85.02, for a transaction totalling $253,614.66. Picker: And you are not, is this typical for you? And one small company is building them for the Pentagon! Whenever I called on Michael, he was there. A lot of people look to their leadership to say, heres where were going and I know that for the following reasons. Randy Frankel, a former managing director at Goldman Sachs, and his Wall Street partners acquired the baseball team the Tampa Bay Rays in 2004. Theres a conversation I had with a very close friend that still sticks with me. The Private Equity Group segment manages shared control investments in corporate private equity funds. I couldn't agree more and we are seeing this in the field. Mr. Arougheti also is a member of the Ares Credit Group's U.S. Mehdi Bolour faces 25 criminal charges over illegally rented Hollywood building, Prince Harry, Meghan Markle asked to leave U.K. home, Real estate investor pleads guilty to stealing $3M, Massive unbuilt Arizona estate asks record $75M, Amazon hits brakes on construction of second headquarters. Prior to joining Indosuez in 1994, Mr. Arougheti worked at Kidder, Peabody & Co., where he was a member of the firm's Mergers and Acquisitions Group. And then he met with me weekly, for close to four years, making himself fully available to my dream, treating it like it was his own. I was doing the same, so we struck up a conversation. I think Ive become a more patient leader. If you look at institutional allocations to alternatives, they are predicted to double likely over the next five to 10 years at a compound annual growth rate of about 15%. , thanks for sharing these insights with top executives - super useful. It's also a reflection, I think of the investors understanding that embedded value that sits in our private credit portfolios. Todd Michael Glaser and Rony Seikaly developed the Sunset Island IV mansion and sold it to the Frankels. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. Picker:So given all of this Ares' stock price is basically flat on the year which is outperforming the S&P, it's outperforming your peers, but still flat. But ultimately, the market is there, and the demand for the product is there. So you know, each cycle is different. So that in and of itself is not surprising. Times. Learn More on Michael J. Arougheti's trading history. Youre seeing it recently: Public markets are near record highs, fixed-income markets are near record tights, but we know that fundamental stresses and challenges remain. So we're giving a little bit back in the private flow. Arougheti: It's slowing, anytime the market goes through this type of a transition or a reset, transaction volumes will naturally slow in the private market. Michael Arougheti Mr. Arougheti is a Co-Founder of Ares and has served as a Director and the President of Ares Management since 2014. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. What it really highlighted for me was the importance of being flexible. It additionally provides investors access to directly originated fixed and floating rate credit assets and the ability to capitalize on illiquidity premiums across the credit spectrum. And to oversimplify what's a complex series of global flows, it really comes down to a global desire for durable yield. Ares, led by co-founder and CEO Michael Arougheti, is a global alternative investment manager with roughly $262 billion of assets under management, including its purchase of Black Creek Group. It absolutely starts with the health crisis and the speed with which we get people inoculated. Similarly, our clients the folks who allocate capital to us are holding us accountable for change. Ares Management Corporation (NYSE:NYSE:ARES) Q1 2022 Earnings Conference Call April 28, 2022 11:00 AM ETCompany ParticipantsCarl Drake - Head, Public Markets, Investor Relations Michael. He is a member of the Ares Executive Management Committee, the Ares Enterprise Risk Committee and is on the Board of Directors of the Ares Charitable Foundation. Mr. Arougheti also is a member of the Ares Credit Group's U.S. in Ethics, Politics and Economics, cum laude, from Yale University. All Rights Reserved. Michael Arougheti took the reins of alternative-asset manager Ares Management on Jan. 1, 2018. The most active insiders traders include Michael J Arougheti, Antony P Ressler, and Bennett Rosenthal. I kind of laugh at that because culture and strategy go hand in hand. But, he said as we were about to hang up, I dont ever want to take credit for the efforts and successes of others.. Certainly, Michael and Nelly would never say an external word. When expanded it provides a list of search options that will switch the search inputs to match the current selection. From media and technology to finance and real estate, leagues and teams across the globe have matured into far more than just back page entertainment. Tue, Mar . USD. That is probably the single biggest challenge that we will face as the company continues to grow and expand. and I will never, forget that that conviction, of one Michael Arougheti. The estimated Net Worth of Michael J Arougheti is at least $235 Million dollars as of 11 November 2022. (Patrick T. Fallon/Getty Images) 'Nobody is really prepared':. Picker: Are you surprised by that? And so we're also seeing increasing demand for things like real assets and private equity. It makes him no less potent, to which Aress rapid global expansion of late is a testament. We have pools of capital that are designed to provide liquidity where other means of liquidity are not working. Picker: So you've seen a full transition from the cost of goods we've seen, and things like fuel costs go down, lumber go down, other raw materials go down, shift to the cost of wages, which have, of course gone up, not keeping pace with inflation. I remember clearly, the many times I pushed him to have the company he led, Ares Management, to support Operation HOPE, but the timing back then was not right. This chart shows Michael J Arougheti's buying and selling at Ares Management by year and by quarter. Michael J. Arougheti is also Partner at Direct Lending Group, Inc. and Member of Program for Appropriate Technology in Health and on the board of 7 other companies. Picker:So six to 12 months puts us at what, January? Among leaders of the major alternative-asset managers think Blackstone, Apollo, Carlyle, KKR Arougheti is the understated, cerebral CEO. TE Michael Mayer says he wants to win a Super Bowl with the Bengals. So we're going in with more health than we typically would have when we're talking about recession risk, the order of magnitude that some people are anxious about. Here are some of the teachers. Leslie Picker:How long do you think these tailwinds for your business will last? Arougheti: Ares has a history of navigating volatile markets well, so if you look at the history of the firm, the period of growth for us it was the largest was through the global financial crisis and through COVID. Direct Lending Investment Committee and the Ares Equity Income Opportunity Strategy Portfolio Review Committee. When you look at the economy, its a tale of two cities. Michael J. Arougheti has not been actively trading shares of Ares Management during the past quarter. So there are a lot of structural competitive advantages that we have as an alt manager, one of the largest is just the structure of our funds. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. And call on him, I did often. Join the conversation with your own take on these topics in the comments below. I think what we do well is we tend to avoid big mistakes. Despite that, that issue and I think that's a reflection of, of a consolidation of LP dollars with fewer GPS. Because if our experience has taught us anything, things can change to the positive as quickly as they change to the negative. Arougheti: Yes and no. Create a free family tree for yourself or for Michael Arougheti and we'll search for valuable new . Its accelerated, the participation is broader, and added to that is a heightened sense of urgency. The . I think Ive always intuitively known that, but Ive gotten more opportunities to test it. Thats one of the unique things about businesses like ours. So, how do we get out of crisis mode by getting people back into the office and driving the business forward? Frankel is also a real estate investor and owner of wineries and restaurants. In the last twelve months, insiders at the asset manager sold shares 15 times. What Im hoping is that we can continue to have that mindset as we scale. They did it, because thats simply who they are. The estimated net worth of Michael J. Arougheti is at least $39.08 million as of November 10th, 2022.