When you get to a certain size as an organization, you have to appreciate that you inspire different people differently. Whitepages people search is the most trusted directory. 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. 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. 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. Find the names and birth dates of Arougheti family members, different addresses of residence, family members' occupations as well as death and burial information. Mr. Arougheti owns 470,138 shares of Ares Management stock worth more than $39,077,871 as of March 4th. So, you have to lead in a new way. 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. Picker:So six to 12 months puts us at what, January? Theres always this debate about whats more important, culture or strategy. Michael Arougheti Mr. Arougheti is a Co-Founder of Ares and has served as a Director and the President of Ares Management since 2014. Picker: And you are not, is this typical for you? Currently, Mr. Arougheti is Co-Chairman of Ares Acquisition Corp., President, Chief Executive Officer & Director at Ares Management Corp., Co-Chairman & Executive Vice President at Ares Capital Corp., Director, CEO & President at Ares Management LLC, President, Chief Executive Officer & Director at Ares Management GP LLC and Co-Chairman and Executive Vice President at Ares Management Corp (Private Equity) (which are all subsidiaries of Ares Management Corp.) and Senior Advisor at Volery Capital Partners LLC. Additionally, Mr. Arougheti is a member of the PATH Organization Leadership Council. Welcome toHuman Capital, an open exploration of the ideas and people moving financial services forward. 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. And, myself included, that can often be very hard to do you tend to create boundaries between your work self and your home self. And then it will, it will pick back up again. This net worth estimate does not reflect any other investments that Mr. Arougheti may own. The Credit Group segment offers credit strategies across the liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed investments and U.S. and European direct lending. This button displays the currently selected search type. Great interview and loved the throwback articles - maybe put together a book? In the last twelve months, Ares Management insiders bought shares 20 times. Mr. Arougheti is a Co-Founder of Ares and the Chief Executive Officer and President, as well as a Director of Ares Management Corporation. He was elected Congressman three times and is a leading figure in the civil rights movement. Certainly, Michael and Nelly would never say an external word. And the thing is, they did it so casually. 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. For me. Together, we built The Promise Homes Company into the largest Black controlled owner of singles family residential rental homes in the country, with $150 million in assets. And that's pretty attractive to most investors right now. Thats not how leadership is classically trained. Ares Management's investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Mr. Arougheti received a B.A. Copyright 2018 | John Hope Bryant and JohnHopeBryantHoldings, LLC | All rights reserved. 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"). Ares Management can also be reached via phone at (310) 201-4100 and via email at [emailprotected] Learn More on Michael J. Arougheti's contact information. All that being said, you also have to be measured in the way that you deploy through a cycle. Picker:So in recent months and we've spoken, private equity has been essentially the kind of the laggard in terms of dealmaking. Mr. Michael J. Arougheti is a Senior Advisor at Volery Capital Partners LLC, a President, Chief Executive Officer & Director at Ares Management Corp., a Co-Chairman & Executive Vice President. Randy Frankel, a former managing director at Goldman Sachs, and his Wall Street partners acquired the baseball team the Tampa Bay Rays in 2004. Arougheti: Yes, and no. Ares Management Corp. is engaged in providing investment management and consultancy services. One of the things that Ive said to my partners here is to think of Ares as a growth company in a growth industry. Treating me, like I was his own. (Source: Bloomberg) Because of what you did to help elevate me and my dreams, with Operation HOPE, and then later with the Promise Homes Company, you too get celebrated as a part of Black History Month. Michael and I met casually, but our bond as brothers and friends, early on, was anything but casual. It's also a reflection, I think of the investors understanding that embedded value that sits in our private credit portfolios. 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. 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). View phone numbers, addresses, public records, background check reports and possible arrest records for Michael Arougheti. He additionally serves as Co-Chairman of Ares Capital Corporation (NASDAQ: ARCC) (ARCC) and as a director of Ares Commercial Real Estate Corporation (NYSE: ACRE) (ACRE). Insiders at Ares Management own 47.4% of the company. 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. Get notified the next time Michael J. Arougheti buys or sells Ares Management stock. Picker: As you digest all of that, do you think it's possible to avoid a hard landing? Kudos to Ares. And therefore you're not going to see as much transaction volume as people manage their liquidity. 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. , thanks for sharing these insights with top executives - super useful. In the moment, I thought back to the first time I met Arougheti, in a 50,000-square-foot house (not his) (or mine) in Beverly Hills almost a decade ago. What about the companies that are seeking that type of financing? Sign up for free newsletters and get more CNBC delivered to your inbox. The firm now oversees $197 billion. Michael Arougheti:I think we have to talk about secular tailwinds in alternatives, and then maybe some of the cyclical tailwinds that we're seeing as well. Picker: It's shifting. 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. 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 also serves on the board of directors of Operation HOPE, a not-for-profit organization focused on expanding economic opportunity in underserved communities through education and empowerment. 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. How do you preserve that at scale? But the pandemic, as well as the events of the summer around the killing of George Floyd that gave us an opportunity, and an imperative, to double our investment in these initiatives. I think they've got, you know, the increased challenge of the energy crisis and the strong dollar exacerbating the inflation picture for them. 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. Here are some of the teachers. Mayer is widely considered among the best available at his position. Over the next several years, I covered Aress IPO, its deals, and Aroughetis ascension to CEO in 2018. I'd subscribe to that podcast on a heartbeat, People will forget what you said, people will forget what you did, but people will never forget how you made them feel.. So one of the ways we can express a view on the market is by not investing. It's somewhat counter cyclical. And without betraying their confidences, let me just say that what Michael and Nelly did for HOPE, and at the time they did it, was extraordinary. This button displays the currently selected search type. Veritas $450M loan default: A sign of things to come? But every time I speak with my friend Tony Ressler, I also feel and see the heart of Michael Arougheti, because Michael introduced me to Tony. The house at 2535 Shelter Avenue also sold for more than double its previous purchase price in 2020. 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. Where we are now, were deploying actively in almost every strategy across the firm because of this bifurcation. 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. With hundreds of billions of dollars worth of floating rate credit and real assets, the firm's $200B book has surprisingly held up well. Thank you!! [BREAKING] New "Living Missile" to Replace Nuclear Missiles. Direct Lending and Pathfinder Investment Committees, the Ares Equity Income Opportunity Strategy Portfolio Review Committee and the Ares Sports, Media and Entertainment Investment Committee. and I will never, forget that that conviction, of one Michael Arougheti. 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 now if I can only get you to co-write my current one. Trusted by millions of genealogists since 2003. And I think that's true for the publicly traded markets as well. The move comes as Ares business becomes more complex and larger with $106bn assets under management in real estate, private equity and . 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. Just life family. A sponsor. That is probably the single biggest challenge that we will face as the company continues to grow and expand. Three. I think Ive always intuitively known that, but Ive gotten more opportunities to test it. A dream planted, but not much more. They sold a total of 6,394,959 shares worth more than $255,128,106.92. Arougheti:You have to look at it on a relative basis. For me, as a leader, what it also highlighted was the importance of being transparent, empathetic, vulnerable. The Frankels paid $14.4 million for the spec Miami Beach mansion in August 2020, and just sold it at a 120 percent markup. 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. 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Really what wound up happening was our employees were awakened the onset of the pandemic, the increased empathy at work, the issues of societal justice around them. Inflation, a hawkish Fed and fears of a recession have all made 2022 a tough environment for investing. Moulds, Michael 12/27/1949 2/13/2023 Pierson, Michigan. The second thing on my mind is that managing in crisis is different than managing status quo. That happens when you surround yourself with the best people, trust them, and lead alongside them neither from the front nor the back. Its a pretty unique set of circumstances. Or is it faster or slower? It required thinking a lot more holistically. 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. But now there are things like take privates that are being talked about, again, where we're now mining flow in the public market, or rescue financing as some of the distressed strategies that we operate in are starting to be a liquidity provider, given that the liquid markets are effectively closed right now. I LOVE this series!! When expanded it provides a list of search options that will switch the search inputs to match the current selection. Ares Management CEO Michael Arougheti discusses consolidation in the asset management industry with Bloomberg's Erik Schatzker at the Bloomberg Invest virtual conference. Times. When you think of yourself as a growth company, you manage yourself differently from a cultural and operational standpoint. 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. 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. If the market is healthy, you can pivot to some of the more regular-way buyout and credit investing. And that opportunity to deploy lasted maybe three weeks. 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. The Big Take is the very best of Bloomberg's in-depth, original reporting from around the globe every day. A Division of NBCUniversal. On average, Michael trades about 111,368 units every 78 days since 2006. Convicted. But ultimately, the market is there, and the demand for the product is there. All of the cultural initiatives that we were executing on accelerated. The Sharpe Angle: Ares Management CEO Michael Arougheti says this macro environment is 'like something we haven't seen before' Inflation, a hawkish Fed and fears of a recession have all made. A traditional portfolio of stocks and bonds is deeply in the red, leaving investors to seek diversity elsewhere. On average, Ares Management Corp executives and independent directors trade stock every 19 days with the average trade being worth of $9,916,050. All of the things that we were embarking on around business development accelerated. And if I didnt say this here, now, I guess no one would ever know. And it's moving around a little bit, right. 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. Michael has a reported annual income of $100 - 149,999 and a current net worth value of greater than $250,000 - $499,999. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Ares Management, however, has been a beneficiary of the current environment. Last year, Los Angeles-based Ares made a $150 million preferred equity investment in Inter Miami CF. 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. And I will never forget it. Thats one of the unique things about businesses like ours. 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. We want to hear from you. 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. We have pools of capital that are designed to provide liquidity where other means of liquidity are not working. A lot of people talk about this idea that crises accelerate trends that are already in place, and I agree with that. Arougheti: For us and others that look like us, it's been as good as we've seen in quite some time. This chart shows Michael J Arougheti's buying and selling at Ares Management by year and by quarter. So I don't want to say that that's good. The estimated Net Worth of Michael J Arougheti is at least $235 Million dollars as of 11 November 2022. Fortunately weve got enough stimulus that weve now kind of stabilized and bridged. UPDATED, May 10, 12:20 p.m.: Tampa Bay Rays co-owner Randy Frankel more than doubled his money with the sale of his waterfront Miami Beach mansion. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. Ive found in my career that the leaders Ive respected most were people who knew how to lead different types of people in different ways. The estimated net worth of Michael J. Arougheti is at least $39.20 million as of November 10th, 2022. When the markets are so uncertain. Leslie Picker:How long do you think these tailwinds for your business will last? Click Subscribe above to be notified of future editions. 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. Mr. Arougheti also is a member of the Ares Credit Group's U.S. 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. Michael didnt stop there. 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. After catching up for an hour recently, tackling a slew of questions and meaty subjects, Mike Arougheti had a question for me. What I've been pleased with is in our portfolios, inflation is present, it has shifted from cost of goods to cost of labor, at least in our US portfolios, but the margins are still at or near all time highs. what I remember from interviewing Michael on a panel years ago is his razor sharp intelligence! We obviously navigated the pandemic with a significant amount of government and central bank intervention. You take different risks along different time frames. The good news is that if you look at corporate America, you have many companies that were indirectly COVID-impacted that have figured out how to navigate things and are now doing OK. And there are just certain companies in certain industries that are directly challenged and will have a harder go of it. Dismiss. When youre going through this amount of uncertainty, what I found served us well from the first day back in March 2020 was the value of over-communicating and, in many instances, saying that you didnt know. In addition, he makes $12,665,700 as President, Chief Executive Officer, Co-Founder, and Director at Ares Management Corp. Michael has made over 55 trades of the Ares Management Corp stock since 2008, according to the Form 4 filled with the SEC. So when you're in an environment now, where the cost of financing is going up, maybe the availability of financing is going down, and rates are rising, putting pressure on discount rates, the markets will pause to try to evaluate where assets will clear. Got a confidential news tip? Picker: So that would imply that fundraising is a bit more challenging as well in PE? So that in and of itself is not surprising. Ive come to learn that there are certain times when you have to lead from out in front, driving the business forward by leading the charge. But it's been a little bit easier to navigate in the sense that there's not one sector that's getting consistently challenged by the current environment, it's giving people a little bit of a reprieve, now and again. Arougheti: Yes and no. And when I launched my dream for The Promise Homes Company, there was Michael Arougheti once again, making the first real commitment to our start-up dream. The challenge right now is in 2022, given how well the portfolio's performed and how deployed, they were given the significant amount of volume in 2021, the market now is digesting the need for more capital against the backdrop of a lack of capital. in Ethics, Politics and Economics, cum laude, from Yale University. But, he said as we were about to hang up, I dont ever want to take credit for the efforts and successes of others.. Create a free family tree for yourself or for Michael Arougheti and we'll search for valuable new . And then surprisingly, when the private markets slow, you usually see public markets challenged as well. So, Ares, I think we've been fortunate that we're outperforming not just the public asset management peers, but the markets generally. Youre effectively purpose-built to navigate this type of environment, where if the market is stressed, you can pivot to distressed investing, whether thats portfolios or single assets. Information on this page was last updated on 2/15/2023. So given all that, and given just where you see opportunity, are there certain sectors that you're putting more capital to work, say, than others, just given kind of the macro backdrop you just outlined? So when the markets get challenged, that's when our investment opportunity becomes the most attractive. Ares Management LP said Dec. 18 that Michael J Arougheti, co-founder and president, was named CEO effective Jan. 1, replacing Tony Ressler who will continue as executive chairman. In addition to that, something thats been true my whole career but Ive come to appreciate lately is just how important it is to build high-quality teams. 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. So you know, each cycle is different. While Ares is mostly credit focused, they have built a brand that seems more venerable than many credit shops before them. CBS News Reports: "It's an entirely new type of weapon." Arougheti: Well, this is like something we haven't seen before. The HOPE Community Credit Score Index A Closer Look at the Twin Identities of Washington, DC. Michael J. Arougheti serves as President, Chief Executive Officer, Co-Founder, Director of the Company. 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 . Got a confidential news tip? They purchased a total of 8,706,492 shares worth more than $85,604,376.84. We had explored the roller coaster of emotions and urgent steps induced by the COVID-19 pandemic. What Im hoping is that we can continue to have that mindset as we scale. 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. The Private Equity Group segment manages shared control investments in corporate private equity funds. Because if our experience has taught us anything, things can change to the positive as quickly as they change to the negative. Of having a willingness to try new things. Inflation, a hawkish Fed, fears of a recession have all made 2022 a tough environment for investing. Inflation? Mr. Arougheti also is a member of the Ares Credit Groups U.S. Learn More on Michael J. Arougheti's trading history. And we're now seeing the retail investor really take hold as well. When you talk about belonging, youre talking about being able to bring your authentic self to work. 1635 West 22nd Street (Michael Ruiz with LPG). There are no ways to adequately describe a man with conviction. 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. What is Michael J. Arougheti's net worth? 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 received a B.A. 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. 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. Ryan Berry will become chief marketing and strategy officer. Learn More about Michael J. Arougheti's net worth. That will help accelerate us on the other side of this. The estimated net worth of Michael J Arougheti is at least $177 Million dollars as of 2023-02-12. Michael J. Arougheti has not been actively trading shares of Ares Management during the past quarter. The shares were sold at an average price of $85.02, for a transaction totalling $253,614.66. The investment management firm has about $325 billion of assets under management, according to its website. But they did it. CINCINNATI (WXIX) - Former Notre Dame All-American tight . And so we're also seeing increasing demand for things like real assets and private equity. And material, at that time, to our very survival. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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. In the last twelve months, insiders at the asset manager sold shares 15 times. Thank you Michael Arougheti. With hundreds of billions of dollars' worth of floating rate credit and real assets, the firm's book has surprisingly held up well. They did it, because thats simply who they are. What makes us and any organization special is culture. We had examined his road map for the year ahead. And if so, do you think that the markets are already pricing that in? The case was due on Jan. 7, meaning the division had to . If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all.