Ares Management Strengthens Leadership Team
Ares Management Corporation (NYSE: ARES), a prominent global alternative investment manager, has exciting news regarding its leadership. The company has recently appointed Kipp deVeer and Blair Jacobson as Co-Presidents, marking a significant development in its operational strategy. Effective immediately, both leaders will work under the guidance of Michael Arougheti, the Chief Executive Officer of Ares.
Roles and Responsibilities of New Co-Presidents
Kipp deVeer and Blair Jacobson will transition from their previous roles in the Credit Group. Their new focus will be on firm-wide strategic initiatives, operational effectiveness, and nurturing vital relationships with investors and counterparties. Additionally, they will play a crucial role in mentoring the next generation of leaders at Ares, ensuring a seamless leadership transition that contributes to the firm's growth and innovation.
Maintaining Strong Continuity in Leadership
Mitchell Goldstein and Michael Smith will continue their roles as Co-Heads of the Credit Group, a position they've held since 2017. They have played a pivotal part in shaping the group's direction and success. Meanwhile, Michael Dennis and Matt Theodorakis will jointly lead the European Direct Lending strategy, ensuring continuity and leadership in this critical area.
Vision for Future Growth
In remarks made by Michael Arougheti, he emphasized the firm's commitment to senior talent development, stating, 'We are fortunate to have many leaders who demonstrate their ability to manage at the highest level.' He has closely observed both Kipp deVeer and Blair Jacobson over the years, noting their capacity for driving innovation and building successful businesses within Ares. Arougheti expressed confidence in their ability to make a significant impact in their new roles.
Personal Reflections from the New Co-Presidents
Kipp deVeer expressed his deep honor in being named Co-President, sharing his enthusiasm in being paired with Blair, with whom he has collaborated for over a decade in building Ares' global Credit Group. He acknowledged the strong partnership with Mitch Goldstein and Michael Smith, expressing admiration for their leadership and friendship. Together, they look forward to continuing their legacy of growth.
Experiences Shaping Leadership
Blair Jacobson also shared his thoughts about the transition. He reflected on the strong leadership position that he and Michael Dennis have established in Ares' European direct lending business over the past years. Jacobson is eager to utilize his international experience and insights in his new role as Co-President, emphasizing his commitment to the company's long-term success alongside Kipp and other leaders.
Strategic Appointments Beyond Co-Presidents
In another strategic move, Ares Capital Corporation, which is advised by Ares Management, announced Kort Schnabel's appointment as Chief Executive Officer, effective in the near future. Jim Miller, currently serving as Co-President alongside Schnabel, will continue as the sole President of Ares Capital. This reshuffle underscores Ares' dedication to ensuring robust management across its entities.
Overview of Ares Management Corporation
Ares Management Corporation (NYSE: ARES) has carved a niche as a global alternative investment manager offering a variety of complementary investment solutions. The firm spans across asset classes such as credit, real estate, private equity, and infrastructure. Its core objective is to provide flexible capital, generate consistent returns, and foster value for stakeholders. The organization's collaborative approach across its investment groups enables it to navigate various market cycles with resilience. As of the last reporting period, Ares Management Corporation managed over $484 billion in assets, with a strong operational presence in North America, Europe, Asia Pacific, and the Middle East.
Frequently Asked Questions
1. Who are the new Co-Presidents of Ares Management Corporation?
Kipp deVeer and Blair Jacobson have been appointed as Co-Presidents of Ares Management Corporation.
2. What will the new Co-Presidents focus on?
They will work on strategic initiatives, operational effectiveness, and mentoring future leaders within the company.
3. Who will continue to lead the Credit Group?
Mitchell Goldstein and Michael Smith will continue their roles as Co-Heads of Ares' Credit Group.
4. What is Ares Management Corporation known for?
Ares Management is known for being a leading global alternative investment manager, focused on various asset classes including credit and private equity.
5. What is the current asset management of Ares Management Corporation?
Ares Management Corporation currently has over $484 billion in assets under management.
