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Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors. The fund will also consider investments in industries such as restaurants, retail, oil and gas, and technology sectors. It focuses on investments in Northeast, Mid-Atlantic, Southeast and Southwest regions from its New York office, the Midwest region, from the Chicago office, and the Western region from the Los Angeles office. The fund typically invests between $20 million and $200 million and a maximum of $400 million in companies with an EBITDA between $10 million and $250 million. It makes debt investments between $10 million and $100 million The fund invests through revolvers, first lien loans, warrants, unitranche structures, second lien loans, mezzanine debt, private high yield, junior capital, subordinated debt, and non-control preferred and common equity. The fund also selectively considers third-party-led senior and subordinated debt financings and opportunistically considers the purchase of stressed and discounted debt positions. The fund prefers to be an agent and/or lead the transactions in which it invests. The fund also seeks board representation in its portfolio companies.
The firm was established in 1997. The co-founders included Antony Ressler, Michael Arougheti, David Kaplan, John H. Kissick, and Bennett Rosenthal. It has several subsidiaries:
Ares Capital Corporation established in 2004: provides financing for middle market acquisitions, recapitalizations, and leveraged buyouts, mainly in the United States. It is a publicly traded closed-end, non-diversified specialty finance company that is regulated as a business development company, or a BDC, under the Investment Company Act of 1940.
Ares Capital Management LLC: an SEC-registered investment adviser, is the investment adviser to Ares Capital Corporation
Ares Management Limited: established in 2006 as an expansion of the Ares business platform into Europe, focused on Ares European capital markets operations. It is authorized under the Financial Conduct Authority in the United Kingdom to provide certain investment advisory services.In May 2007, a minority interest in the firm was acquired by an international institutional investor, Abu Dhabi Investment Authority. The investor did not acquire any voting or governance rights via its investment.In May 2014, Ares Management completed its initial public offering and is currently listed on the New York Stock Exchange. In April 2016, Ares Management closed its fifth global private equity fund, raising $7.85bn. In May 2016, Ares Management announced to buy asset management company American Capital; the US$3.4 billion deal closed in January 2017.
On January 30, 2020, Ares Management acquired a controlling stake in the Hong Kong-based alternative investment firm, SSG Capital Management. The deal was formally completed on July 2, 2020, and SSG Capital Management now operates under the name Ares SSG.On July 1, 2021, Ares Management announced completion of its acquisition of Black Creek Group's U.S. real estate investment advisory and distribution business.
Our mission is to deliver substantial, consistent returns to stockholders through current dividend income and capital appreciation, while providing a broad range of investment products and services to our clients.
Our vision is to be the leader in speciality finance and to continue to provide innovative financing solutions to US middle market companies.
