Ares Management

Ares Management is a global investment management company involved in asset management, equities, credits, real estates, financial planning, and investment advisory services. It was incorporated on December 27, 2001.^[1] The company reported a GAAP net income of $408.8 million in 2021, with assets under management exceeding $300 billion.^[2]

In February 2022, Ares completed acquisition of AMP Capital’s Infrastructure Debt Platform, adding approximately $8 billion in assets under management.^[3]

Ares Co-Founder and CEO Antony Ressler is the brother-in-law of former Apollo Global Management CEO Leon Black.^[4]

Political Contributions

During the 2020 US election cycle, Ares-affiliated individuals contributed $100,006 to Democratic federal candidates and $8,500 to Republican federal candidates.^[5]

Fossil Fuel Footprint

According to Private Equity’s Dirty Dozen, a joint report by LittleSis and the Private Equity Stakeholder Project:

“In 2018, Ares acquired a stake in California Resources Corporation (CRC), the state’s largest oil and gas producer. By the end of 2019, CRC held $4.9 billion in debt and ultimately filed for Chapter 11 bankruptcy in 2020. As of January 2021, the company still owned approximately 8,000 idle wells in California, which present dangers to nearby communities, as hydrocarbons can leak from the wells into water aquifers and the air.
From 2007 to 2015, Ares Management had a stake in Exco Resources, “an oil and gas exploration company operating in Texas, Louisiana and the Appalachian region […] Between 2011 and 2014, Exco Resources was among the top 20 fracking companies cited for environmental and health violations in Pennsylvania. During that same period, Exco Resources ranked second, in terms of the Pennsylvania fracking companies with the most environmental and health violations per well drilled. Exco is also noted in a 2021 Ceres and Clean Air Task Force analysis as being one of the 15 largest methane emitters in the country, emitting more than industry majors such as Chevron or Marathon Oil."^[4]

Executive Officers

Accessed February 2022:^[6]

Michael Arougheti – Director, Co-Founder, Chief Executive Officer and President of Ares
Ryan Berry – Partner, Chief Marketing & Strategy Officer
Kipp deVeer – Director, Partner, Head of Credit Group
David Kaplan – Co-Founder, Director, Partner and Co-Chairman of Private Equity Group
Jarrod Phillips – Partner, Chief Financial Officer
Antony P. Ressler – Co-Founder and Executive Chairman
Bennett Rosenthal – Co-Founder, Director, Partner and Co-Chairman of Private Equity Group
Naseem Sagati Aghili – Partner, General Counsel and Secretary

Board of Directors

Accessed February 2022:^[6]

Michael Arougheti – Director, Co-Founder, Chief Executive Officer and President of Ares
Antoinette Bush – Director
Kipp deVeer – Director, Partner, Head of Credit Group
Paul G. Joubert – Director
David Kaplan – Co-Founder, Director, Partner and Co-Chairman of Private Equity Group
Michael Lynton – Director
Eileen Naughton – Director
Dr. Judy D. Olian – Director
Antony P. Ressler – Co-Founder and Executive Chairman
Bennett Rosenthal – Co-Founder, Director, Partner and Co-Chairman of Private Equity Group