Mr. Arougheti also is a member of the Ares Credit Groups U.S. Two weeks before Michael Haight killed his family, DCFS was in his home Michael Arougheti - Phone, Address, Background info | Whitepages Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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. This is going to be top of mind for a lot of leaders this year and, I think, into next. Get this delivered to your inbox, and more info about our products and services. Also in April, investor and Anatomy Fitness owner Chris Paciello flipped a waterfront teardown on Sunset Island I for a 50 percent gain in one month. A dream planted, but not much more. So there's a fundamentally different positioning when you manage private capital versus liquid capital. Helping me was certainly not his job, nor his calling or his role in life, but he never once made me feel like I was secondary to what was his primary. From there, its really going to be a function of what incremental fiscal and monetary stimulus exists. 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 call on him, I did often. Picker: So how would you characterize the credit quality within your portfolio right now? So if all we do is continue to invest at the top end of a company's capital structure, or lend against a real asset, with rates going up the way that they are, there's significant embedded profit potential. Ares Management co-founders Tony Ressler and Michael Arougheti provided founding investments and served on the company's investment committee until last year. That was June, 2017. Ares Management, however, has been a beneficiary of the current environment. A sponsor. Not just because people were remote, but because youre also in a much different headspace, balancing home and family and kids. Inflation, a hawkish Fed, fears of a recession have all made 2022 a tough environment for investing. 2023 CNBC LLC. They did it, because thats simply who they are. 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. Over the last 9 years, insiders at Ares Management Corp have traded over $747,414,700 worth of Ares Management Corp stock and bought 550,746 units worth $8,027,035 We wouldn't blame Ares Management Corporation (NYSE:ARES) shareholders if they were a little worried about the fact that Michael Arougheti, the Co-Founder recently netted about US$15m selling . What makes our culture special is that its deeply rooted in partnership, in entrepreneurialism, in growth mindset. He bought the property for $9.3 million and sold it to the next door neighbor for $14 million. Todd Michael Glaser and Rony Seikaly developed the Sunset Island IV mansion and sold it to the Frankels. Michael Arougheti Expand search. Thats true for the consumer as well you have a sizable segment of the population that is doing OK, and you have a segment of the population that, unfortunately, is being devastated. Arougheti:I think, in the US market, we still have a shot, I think the Fed is on the task, if you look at the strength of the market, and this what makes it particularly challenging to invest in, all of the data that we see, up until this point in our significant private portfolios, we tell you that the economy is still quite strong, corporate balance sheets are well positioned, the consumer is still relatively underleveraged. Mike Arougheti, Ares Management LLC: Profile and Biography So I've been encouraged by that from an activity and deployment level. Trusted information source for millions of people worldwide . This button displays the currently selected search type. But when you go remote, youre effectively letting everybody into your home, whether thats the sights or sounds or just the challenges. I think many managers got accustomed to very quick fundraisers and I think they got accustomed to fundraisers happening prior to return of money. Sign up for free newsletters and get more CNBC delivered to your inbox. SAN LORENZO, Calif. - Michael "Mike" Simon, 61, passed away peacefully on Feb. 23, 2023 with family by his side, after a year-long fight with brain cancer. So that in and of itself is not surprising. We want to hear from you. This net worth estimate does not reflect any other investments that Mr. Arougheti may own. 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 there are big parts of our business that are investing in health care and technology and single-family residential and all of the things that are doing well. But, he said as we were about to hang up, I dont ever want to take credit for the efforts and successes of others.. Mr. Arougheti joined Royal Bank of Canada 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. And one small company is building them for the Pentagon! Veritas $450M loan default: A sign of things to come? Learn More on Ares Management's active insiders. The HOPE Community Credit Score Index A Closer Look at the Twin Identities of Washington, DC. The second thing on my mind is that managing in crisis is different than managing status quo. in Ethics, Politics and Economics, cum laude, from Yale University. And that's a function of great performance, but it's also a function of what they call the denominator effect, which is as public market valuations come down, traditional fixed income valuations come down, those allocators of capital that are managing to a model have less capital to deploy into private equity. And we've been pretty vocal that again, if all we do is sit on our existing exposures, we can see core earnings growing, you know, in the double digit range just because of the rise in base rates. CBS News Reports: "It's an entirely new type of weapon." what I remember from interviewing Michael on a panel years ago is his razor sharp intelligence! 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. A Division of NBCUniversal. Because if our experience has taught us anything, things can change to the positive as quickly as they change to the negative. I think what was true for a lot of organizations was folks believed in the importance of DE&I and ESG, they were passionate about it, but organizationally it had not become a top priority. Ressler, an Ares . Even to fail in doing that. So there's a lot to digest. Picker:As you think about the inflationary environment, in particular, and in planning for your own business in conversations with LPs, what's your take for how long we will be in a current situation like we're in right now? 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. I think that if you talk to any leader of an organization, they would tell you that no matter how experienced they were or well prepared for every eventuality, nobody is really prepared for a global pandemic and all of the things that come with it. Sometimes all you can do is throw them a life jacket and say swim as hard as you can !. And Michael Arougheti, was all of that. Currently, Mr. Arougheti is Co-Chairman of Ares Acquisition Corp., President, Chief Executive Officer & Director at . Ares Management Corporation's (ARES) CEO Michael Arougheti on Q3 2021 Michael Arougheti | Ares Capital Corporation We're not having that experience. The Real Estate Group segment provides debt, mortgage loans, and equity capital to borrowers, property owners, and real estate developers. "All of the work that weve been doing around diversity, inclusion, belonging, ESG that accelerated because, while the pandemic is global, it exposed inequities in the economy and in our society that created lots of other reverberations in the business." 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"). 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. Ares Management co-founder and CEO Michael. And so we're also seeing increasing demand for things like real assets and private equity. Block by block amd piece by piece, we pulled the institutional fabric together that we now call The Promise Homes Company. Prior to joining Ares in 2004, Mr. Arougheti was employed by Royal Bank of Canada 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. Moulds, Michael 12/27/1949 2/13/2023 Pierson, Michigan. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. 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. The case was due on Jan. 7, meaning the division had to . With hundreds of billions of dollars' worth of floating rate credit and real assets, the firm's book has surprisingly held up well. A Division of NBCUniversal. Michael J. Arougheti is an entrepreneur and businessperson who founded Ares Management Corp., Ares Management LP, Ares Management LLC and Ares Management Corp (Private Equity) and who has been the head of 8 different companies. 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. For me, as a leader, what it also highlighted was the importance of being transparent, empathetic, vulnerable. 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"). Musk Made a Mess at Twitter. In each edition, we feature a leader or rising star whos changing the game in his or her own way. Just life family. The estimated net worth of Michael J Arougheti is at least $177 Million dollars as of 2023-02-12. As the President, Chief Executive Officer, Co-Founder, and Director of Ares Management Corp, the total compensation of Michael Arougheti at Ares Management Corp is $12,665,700. Randy Frankel, a former managing director at Goldman Sachs, and his Wall Street partners acquired the baseball team the Tampa Bay Rays in 2004. But at the same time, it was probably the most rewarding. Michael J Arougheti, 50 - Nyack, NY - Has Court or Arrest Records - MyLife Recent buyers of multimillion-dollar homes in South Florida, including Miami Beach and Palm Beach, have been able to flip their properties for big profits due to heightened demand. Promise Homes secures $200M to expand single-family rental portfolio It absolutely starts with the health crisis and the speed with which we get people inoculated. While Ares is mostly credit focused, they have built a brand that seems more venerable than many credit shops before them. 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. Last updated: 2 February 2023 at 9:52pm EST. 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. 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. I have worked with Ares over the years (and some of their predecessors), and invariably, the interactions have been very professional and thoughtful. USD. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. Ares Management Announces New Senior Leadership Changes And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries. Aroughetis noting of the importance of being transparent, empathetic, vulnerable is telling and admitting that many of us coming through the finance track are not classically trained in emotional intelligence. 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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? Additionally, Mr. Arougheti is a member of the PATH Organization Leadership Council. 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. Ares Management CEO Michael Arougheti breaks down where to find yield I was doing the same, so we struck up a conversation. What it really highlighted for me was the importance of being flexible. And the thing is, they did it so casually. Arougheti: So this is - we're talking about the US specifically. Understanding that really informs how we invest and the types of tools were using to invest into those different pockets. Ares Management's insider roster includes Michael Arougheti (CEO), Antoinette Bush (Director), R. Deveer (Insider), David Kaplan (Insider), Michael McFerran (CFO), Antony Ressler (Chairman), Bennett Rosenthal (Insider), and Aghili Sagati (General Counsel). Kerry Phelan, CFP, MBA, APMA's Post - rs.linkedin.com He is a member of the Ares Executive Management Committee and the firm's. So, how do we get out of crisis mode by getting people back into the office and driving the business forward? They purchased a total of 8,706,492 shares worth more than $85,604,376.84. Among leaders of the major alternative-asset managers think Blackstone, Apollo, Carlyle, KKR Arougheti is the understated, cerebral CEO. Id like to think that Ive become more strategic in my thinking, as opposed to just tactical around parts of the business. 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. He joined my board of directors for Operation HOPE, and later I joined his board, for a new publicly traded company called Ares Commercial Real Estate REIT. Some people struggled figuring out how to be in that environment. The estimated net worth of Michael J. Arougheti is at least $39.20 million as of November 10th, 2022. 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. 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. And when Michael Arougheti committed, that gave license to Tony Ressler, his co-founder at Ares Management, that he could do the same. The most active insiders traders include Michael J Arougheti, Antony P Ressler, and Bennett Rosenthal. 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. Director, Co-Founder, Chief Executive Officer and President of Ares. Are you surprised that the credit quality has been able to withstand some of the pressures of a rising interest rate environment and lack of liquidity in the system? Sign up for free newsletters and get more CNBC delivered to your inbox. They are most only concerned with the outcome, not the credit. 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. Liquidity Will Delay Default Spike for 2-3 Years, Ares CEO Says Ares Management's global platform had $149 billion of assets under management as of March 31, 2020 with more than 1,200 employees in over 20 offices in more than 10 countries. 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. Michael Arougheti is co-founder, chief executive officer and president, as well as a director of Ares Management Corp. CNBC's Delivering Alpha newsletter 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. I think the good news is its very consistent with my own personal world view. And then surprisingly, when the private markets slow, you usually see public markets challenged as well. Click Subscribe above to be notified of future editions. Insiders at Ares Management own 47.4% of the company. 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. 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. Michael Arougheti A Co-Founder, Director, Chief Executive Officer & President at Ares Management Mr. Arougheti is Co-Founder, Chief Executive Officer and President, as well as a Director of Ares Management Corporation. And it's hard to generalize about a market that's trillions of dollars deep and, and is global, I would say the following, private equity enjoyed a wonderful rebound coming out of COVID. A beginning. Below are excerpts from our recent conversation. 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. 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. Arougheti:I think, for traditional private equity for many it likely will be. 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. He previously occupied the position of Principal at Royal Bank of Canada and Managing Partner-Principal Finance Group at RBC Capital Partners Ltd. (a subsidiary of Royal Bank of Canada), Principal at Onyx Partners, Inc., Executive Vice President at Columbia Savings & Loan Association (Milwaukee, Wisconsin), Member-Mergers & Acquisitions Group at Kidder, Peabody & Co., Inc., Principal at Taylor & Co. Law Offices LLP, Co-Chairman for ACRE Capital LLC, Director at Evercom, Inc., Director at Imperial Capital LLC and Principal at Indosuez Capital.