I don't think that will end anytime soon. The estimated net worth of Michael J. Arougheti is at least $39.20 million as of November 10th, 2022. Credit is crowded PE firms including the Blackstone Group (NYSE: BX), KKR, the Carlyle Group (Nasdaq: CG) and Apollo (NYSE: APO) have all grown their credit business substantially . hopefully Ares can be big but also keep it real. 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. Picker: Are you surprised by that? This chart shows Michael J Arougheti's buying and selling at Ares Management by year and by quarter. And that's pretty attractive to most investors right now. Ares Management, however, has been a beneficiary of the current environment. 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. A lot of people look to their leadership to say, heres where were going and I know that for the following reasons. 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). Thats when leadership is most rewarding. Michael Arougheti Expand search. Its accelerated, the participation is broader, and added to that is a heightened sense of urgency. 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. To experiment. 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. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Arougheti: For us and others that look like us, it's been as good as we've seen in quite some time. Learn More about Michael J. Arougheti's net worth. 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. 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 to oversimplify what's a complex series of global flows, it really comes down to a global desire for durable yield. The estimated net worth of Michael J. Arougheti is at least $39.08 million as of November 10th, 2022. I think the good news is its very consistent with my own personal world view. One of the reasons is we're one of the largest private credit managers 90% of our private credit exposures are floating rate. Ares Management co-founder and CEO Michael. A gentle soul and bright spirit left us on Feb. 13 when Michael "Mike" Moulds, age 73, of Pierson, Michigan, passed away unexpectedly. It required thinking a lot more holistically. Arougheti: Yes, and no. 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. 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. Hes sort of a walking brain, and I am pretty sure he has a genius IQ. 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. 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. Private investment firms driven by credit, focusing more on the balance sheet than the story, tend to operate in a less docile manner - less often on boards, less often delivering the CEO, less often sensitive to the sustainability of the legacy or even equity value. Leslie Picker:How long do you think these tailwinds for your business will last? 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. 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. Last year, Los Angeles-based Ares made a $150 million preferred equity investment in Inter Miami CF. Mr. Arougheti also is a member of the Ares Credit Group's U.S. 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 Frankels paid $14.4 million for the spec Miami Beach mansion in August 2020, and just sold it at a 120 percent markup. omg. 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. The corporate mailing address for Mr. Arougheti and other Ares Management executives is 2000 AVE OF THE STARS 12TH FLOOR, LOS ANGELES CA, 90067. I think many managers got accustomed to very quick fundraisers and I think they got accustomed to fundraisers happening prior to return of money. Michael Arougheti is co-founder, chief executive officer and president, as well as a director of Ares Management Corp. 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. It was designed by Domo Architecture + Design and includes a guest house, cabana and pool. A traditional portfolio of stocks and bonds is deeply in the red, leaving investors to seek diversity elsewhere. 84 Likes, 1 Comments - Michael Hollick (@mikehollick) on Instagram: "What an awesome week and celebration for my dads 70th So awesome to spend time with our family" Sign up for free newsletters and get more CNBC delivered to your inbox. If the market is healthy, you can pivot to some of the more regular-way buyout and credit investing. Picker: It's shifting. And that opportunity to deploy lasted maybe three weeks. 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. |, 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. 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 thats required if you want to see change happen and you want to see it happen quickly and sustainably. 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. Michael and I met casually, but our bond as brothers and friends, early on, was anything but casual. I think Ive always intuitively known that, but Ive gotten more opportunities to test it. 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. It absolutely starts with the health crisis and the speed with which we get people inoculated. Additionally, Mr. Arougheti is a member of the PATH Organization Leadership Council. what I remember from interviewing Michael on a panel years ago is his razor sharp intelligence! Mr. Arougheti received an undergraduate degree from Yale University. There is a big difference between June and September in terms of a reopening and increased mobility. Arougheti: So this is - we're talking about the US specifically. So, Ares, I think we've been fortunate that we're outperforming not just the public asset management peers, but the markets generally. What makes us and any organization special is culture. Some people struggled figuring out how to be in that environment. Its been such an interesting year because in so many ways, it was probably one of the most challenging of my career. We're not having that experience. Director, Co-Founder, Chief Executive Officer and President of Ares. 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. Great interview and loved the throwback articles - maybe put together a book? Frankel and his wife, Barbara, sold their two-story, 8,500-square-foot home at 1635 West 22nd Street on the Sunset Islands for $31.5 million. 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 . Most recently, Michael J. Arougheti sold 2,983 shares of the business's stock in a transaction on Thursday, November 10th. 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. 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. 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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? Because if our experience has taught us anything, things can change to the positive as quickly as they change to the negative. That was probably the biggest challenge for me in those early days, leveraging the things that we had built, but leading in a new way. Data is a real-time snapshot *Data is delayed at least 15 minutes. in Ethics, Politics and Economics, cum laude, from Yale University. A key support beam. . So there's a fundamentally different positioning when you manage private capital versus liquid capital. 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. A dream planted, but not much more. As of 11 November 2022 he still owns at least 460,738 units of Ares Management Corp stock. Such is the man the world refers to as Michael Arougheti. Mr. Arougheti also is a member of the Ares Credit Groups U.S. Most recently he sold 9,400 units of ARES stock worth $799,376 on 11 November 2022. Aroughetis Vandelay Homes II LLC financed the purchase with a $21.1 million loan from J.P. Morgan, according to records. 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. Arougheti:Yeah, we're already seeing the pipeline start to build into the end of the year. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. 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.