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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ares Management Co | NYSE:ARES | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-1.13 | -0.84% | 132.63 | 133.24 | 130.94 | 131.51 | 1,315,501 | 01:00:00 |
| | |
Per Note
|
| |
Total
|
| ||||||
Price to public(1)
|
| | | | 99.802% | | | | | $ | 499,010,000 | | |
Underwriting discount
|
| | | | 0.600% | | | | | $ | 3,000,000 | | |
Proceeds to us before expenses(1)
|
| | | | 99.202% | | | | | $ | 496,010,000 | | |
|
Academy
Securities |
| |
Loop Capital
Markets |
| |
R. Seelaus &
Co., LLC |
| |
Ramirez &
Co., Inc. |
| |
Siebert Williams
Shank |
|
| | | | | S-v | | | |
| | | | | S-vi | | | |
| | | | | S-1 | | | |
| | | | | S-27 | | | |
| | | | | S-32 | | | |
| | | | | S-33 | | | |
| | | | | S-34 | | | |
| | | | | S-35 | | | |
| | | | | S-39 | | | |
| | | | | S-54 | | | |
| | | | | S-59 | | | |
| | | | | S-63 | | | |
| | | | | S-63 | | | |
| | | | | S-64 | | |
| | | | | 1 | | | |
| | | | | 2 | | | |
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| | | | | 28 | | | |
| | | | | 29 | | | |
| | | | | 30 | | | |
| | | | | 31 | | | |
| | | | | 33 | | | |
| | | | | 34 | | | |
| | | | | 35 | | | |
| | | | | 36 | | |
| | |
As of September 30,
|
| |
As of December 31,
|
| ||||||||||||||||||||||||
$ in thousands
|
| |
2023
|
| |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| |||||||||||||||
Statements of financial condition data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total assets
|
| | | $ | 23,383,893 | | | | | $ | 21,206,326 | | | | | $ | 22,002,839 | | | | | $ | 21,605,164 | | | | | $ | 15,168,992 | | |
Debt obligations
|
| | | | 2,340,173 | | | | | | 2,018,462 | | | | | | 2,273,854 | | | | | | 1,503,709 | | | | | | 642,998 | | |
CLO loan obligations of Consolidated
Funds |
| | | | 11,460,963 | | | | | | 10,313,881 | | | | | | 10,701,720 | | | | | | 10,657,661 | | | | | | 9,958,076 | | |
Consolidated Funds’ borrowings
|
| | | | 80,741 | | | | | | 149,546 | | | | | | 168,046 | | | | | | 127,771 | | | | | | 121,909 | | |
Total liabilities
|
| | | | 18,339,676 | | | | | | 16,641,576 | | | | | | 17,097,810 | | | | | | 16,694,730 | | | | | | 12,596,852 | | |
Redeemable interest in Consolidated Funds
|
| | | | 1,002,587 | | | | | | 1,004,994 | | | | | | 1,013,282 | | | | | | 1,000,000 | | | | | | — | | |
Redeemable interest in Ares Operating Group entities
|
| | | | 23,176 | | | | | | 92,108 | | | | | | 93,129 | | | | | | 96,008 | | | | | | 100,366 | | |
Non-controlling interest in Consolidated
Funds |
| | | | 1,053,433 | | | | | | 834,710 | | | | | | 1,074,356 | | | | | | 591,452 | | | | | | 539,720 | | |
Non-controlling interest in Ares Operating Group entities
|
| | | | 1,231,842 | | | | | | 1,121,277 | | | | | | 1,135,023 | | | | | | 1,397,747 | | | | | | 738,369 | | |
Total stockholders’ equity
|
| | | | 1,733,179 | | | | | | 1,511,661 | | | | | | 1,589,239 | | | | | | 1,825,227 | | | | | | 1,193,685 | | |
Total equity
|
| | | | 4,018,454 | | | | | | 3,467,648 | | | | | | 3,798,618 | | | | | | 3,814,426 | | | | | | 2,471,774 | | |
| | |
Nine Months
Ended September 30, |
| |
Year Ended December 31,
|
| ||||||||||||||||||||||||||||||||||||
$ in thousands, except share data
|
| |
2023
|
| |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| |
2019
|
| |
2018
|
| |||||||||||||||||||||
Statements of operation data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Revenues | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Management fees
|
| | | $ | 1,853,304 | | | | | $ | 1,546,350 | | | | | $ | 2,136,433 | | | | | $ | 1,611,047 | | | | | $ | 1,150,608 | | | | | $ | 979,417 | | | | | $ | 802,502 | | |
Carried interest allocation
|
| | | | 541,828 | | | | | | 417,779 | | | | | | 458,012 | | | | | | 2,073,551 | | | | | | 505,608 | | | | | | 621,872 | | | | | | 42,410 | | |
Incentive fees
|
| | | | 33,327 | | | | | | 29,979 | | | | | | 301,187 | | | | | | 332,876 | | | | | | 37,902 | | | | | | 69,197 | | | | | | 63,380 | | |
Principal investment income(loss)
|
| | | | 38,985 | | | | | | 15,521 | | | | | | 12,279 | | | | | | 99,433 | | | | | | 28,552 | | | | | | 56,555 | | | | | | (1,455) | | |
Administrative, transaction and other
fees |
| | | | 110,459 | | | | | | 108,090 | | | | | | 147,532 | | | | | | 95,184 | | | | | | 41,376 | | | | | | 38,397 | | | | | | 51,624 | | |
Total revenues
|
| | | | 2,577,903 | | | | | | 2,117,719 | | | | | | 3,055,443 | | | | | | 4,212,091 | | | | | | 1,764,046 | | | | | | 1,765,438 | | | | | | 958,461 | | |
Expenses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Compensation and benefits
|
| | | | 1,095,833 | | | | | | 1,155,031 | | | | | | 1,498,590 | | | | | | 1,162,633 | | | | | | 767,252 | | | | | | 653,352 | | | | | | 570,380 | | |
Performance related compensation
|
| | | | 401,990 | | | | | | 316,818 | | | | | | 518,829 | | | | | | 1,740,786 | | | | | | 404,116 | | | | | | 497,181 | | | | | | 30,254 | | |
General, administrative and other
expenses |
| | | | 501,340 | | | | | | 562,441 | | | | | | 695,256 | | | | | | 444,178 | | | | | | 258,999 | | | | | | 270,219 | | | | | | 215,964 | | |
Expenses of Consolidated Funds
|
| | | | 28,171 | | | | | | 28,364 | | | | | | 36,410 | | | | | | 62,486 | | | | | | 20,119 | | | | | | 42,045 | | | | | | 53,764 | | |
Total expenses
|
| | | | 2,027,334 | | | | | | 2,062,654 | | | | | | 2,749,085 | | | | | | 3,410,083 | | | | | | 1,450,486 | | | | | | 1,462,797 | | | | | | 870,362 | | |
Other income (expense) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net realized and unrealized gains (losses) on
investments |
| | | | 5,226 | | | | | | 10,765 | | | | | | 4,732 | | | | | | 19,102 | | | | | | (9,008) | | | | | | 9,554 | | | | | | (1,884) | | |
Interest and dividend income
|
| | | | 11,281 | | | | | | 5,064 | | | | | | 9,399 | | | | | | 9,865 | | | | | | 8,071 | | | | | | 7,506 | | | | | | 7,028 | | |
Interest expense
|
| | | | (76,800) | | | | | | (51,174) | | | | | | (71,356) | | | | | | (36,760) | | | | | | (24,908) | | | | | | (19,671) | | | | | | (21,448) | | |
Other income (expense), net
|
| | | | (1,068) | | | | | | 10,194 | | | | | | 13,119 | | | | | | 14,402 | | | | | | 11,291 | | | | | | (7,840) | | | | | | (851) | | |
Net realized and unrealized gains (losses) on
investments of Consolidated Funds |
| | | | 188,717 | | | | | | 8,031 | | | | | | 73,386 | | | | | | 77,303 | | | | | | (96,864) | | | | | | 15,136 | | | | | | (1,583) | | |
Interest and other income of Consolidated
Funds |
| | | | 712,992 | | | | | | 396,080 | | | | | | 586,529 | | | | | | 437,818 | | | | | | 463,652 | | | | | | 395,599 | | | | | | 337,875 | | |
Interest expense of Consolidated Funds
|
| | | | (540,954) | | | | | | 266,028 | | | | | | (411,361) | | | | | | (258,048) | | | | | | (286,316) | | | | | | (277,745) | | | | | | (222,895) | | |
Total other income
|
| | | | 299,394 | | | | | | 112,932 | | | | | | 204,448 | | | | | | 263,682 | | | | | | 65,918 | | | | | | 122,539 | | | | | | 96,242 | | |
Income (loss) before taxes
|
| | | | 849,963 | | | | | | 167,997 | | | | | | 510,806 | | | | | | 1,065,690 | | | | | | 379,478 | | | | | | 425,180 | | | | | | 184,341 | | |
Income tax expense (benefit)
|
| | | | 113,418 | | | | | | 22,272 | | | | | | 71,891 | | | | | | 147,385 | | | | | | 54,993 | | | | | | 52,376 | | | | | | 32,202 | | |
Net income
|
| | | | 736,545 | | | | | | 145,725 | | | | | | 438,915 | | | | | | 918,305 | | | | | | 324,485 | | | | | | 372,804 | | | | | | 152,139 | | |
Less: Net income (loss) attributable to
non-controlling interests in Consolidated Funds |
| | | | 174,663 | | | | | | 48,700 | | | | | | 119,333 | | | | | | 120,369 | | | | | | 28,085 | | | | | | 39,704 | | | | | | 20,512 | | |
Net income attributable to Ares Operating Group entities
|
| | | | 561,882 | | | | | | 97,025 | | | | | | 319,582 | | | | | | 797,936 | | | | | | 296,400 | | | | | | 333,100 | | | | | | 131,627 | | |
Less: Net income attributable to redeemable
interests in Ares Operating Group |
| | | | (332) | | | | | | 35 | | | | | | (851) | | | | | | (1,341) | | | | | | (976) | | | | | | — | | | | | | — | | |
Less: Net income attributable to non-controlling interests in Ares Operating Group
|
| | | | 261,838 | | | | | | 46,942 | | | | | | 152,892 | | | | | | 390,440 | | | | | | 145,234 | | | | | | 184,216 | | | | | | 74,607 | | |
Net income attributable to Ares Management Corporation
|
| | | | 300,376 | | | | | | 50,048 | | | | | | 167,541 | | | | | | 408,837 | | | | | | 152,142 | | | | | | 148,884 | | | | | | 57,020 | | |
Less: Series A Preferred Stock dividends paid
|
| | | | — | | | | | | — | | | | | | — | | | | | | 10,850 | | | | | | 21,700 | | | | | | 21,700 | | | | | | 21,700 | | |
Less: Series A Preferred Stock redemption premium
|
| | | | — | | | | | | — | | | | | | — | | | | | | 11,239 | | | | | | — | | | | | | — | | | | | | — | | |
Net income attributable to Ares Management Corporation Class A and non-voting common stock holders
|
| | | $ | 300,376 | | | | | $ | 50,048 | | | | | $ | 167,541 | | | | | $ | 386,748 | | | | | $ | 130,442 | | | | | $ | 127,184 | | | | | $ | 35,320 | | |
Net income attributable to Ares
Management Corporation per share of Class A and non-voting common stock: |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic
|
| | | $ | 1.54 | | | | | $ | 0.23 | | | | | $ | 0.87 | | | | | $ | 2.24 | | | | | $ | 0.89 | | | | | $ | 1.11 | | | | | $ | 0.30 | | |
Diluted
|
| | | $ | 1.54 | | | | | $ | 0.23 | | | | | $ | 0.87 | | | | | $ | 2.15 | | | | | $ | 0.87 | | | | | $ | 1.06 | | | | | $ | 0.30 | | |
Weighted-average shares of Class A and non-voting common stock:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic
|
| | | | 182,757,955 | | | | | | 175,010,241 | | | | | | 175,510,798 | | | | | | 163,703,626 | | | | | | 135,065,436 | | | | | | 107,914,953 | | | | | | 96,023,147 | | |
Diluted
|
| | | | 182,757,955 | | | | | | 175,010,241 | | | | | | 175,510,798 | | | | | | 180,112,271 | | | | | | 149,508,498 | | | | | | 119,877,429 | | | | | | 96,023,147 | | |
Dividend declared and paid per share of Class A and non-voting common stock
|
| | | $ | 2.31 | | | | | $ | 1.83 | | | | | $ | 2.44 | | | | | $ | 1.88 | | | | | $ | 1.60 | | | | | $ | 1.28 | | | | | $ | 1.33 | | |
$ in thousands, except share data (and as
otherwise noted) |
| |
Nine Months
Ended September 30, |
| |
Year Ended December 31,
|
| ||||||||||||||||||||||||||||||||||||
|
2023
|
| |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| |
2019
|
| |
2018
|
| |||||||||||||||||||||||
Management fees(1)
|
| | | $ | 1,868,020 | | | | | $ | 1,559,570 | | | | | $ | 2,152,528 | | | | | $ | 1,635,277 | | | | | $ | 1,186,565 | | | | | $ | 1,012,530 | | | | | $ | 836,744 | | |
Fee related performance revenues
|
| | | | 6,937 | | | | | | 15,041 | | | | | | 239,425 | | | | | | 137,879 | | | | | | 22,987 | | | | | | 54,307 | | | | | | 6,961 | | |
Other fees
|
| | | | 70,157 | | | | | | 69,615 | | | | | | 94,562 | | | | | | 49,771 | | | | | | 19,948 | | | | | | 18,078 | | | | | | 24,288 | | |
Compensation and benefits expenses(2)
|
| | | | (859,530) | | | | | | (758,244) | | | | | | (1,172,504) | | | | | | (894,842) | | | | | | (626,172) | | | | | | (560,234) | | | | | | (460,160) | | |
General, administrative and other
expenses |
| | | | (290,569) | | | | | | (227,375) | | | | | | (319,661) | | | | | | (215,777) | | | | | | (172,097) | | | | | | (178,742) | | | | | | (149,465) | | |
Fee Related Earnings
|
| | | | 795,015 | | | | | | 658,607 | | | | | | 994,350 | | | | | | 712,308 | | | | | | 431,231 | | | | | | 345,939 | | | | | | 258,368 | | |
Realized net performance income
|
| | | | 56,096 | | | | | | 52,455 | | | | | | 143,480 | | | | | | 145,844 | | | | | | 124,767 | | | | | | 89,856 | | | | | | 102,554 | | |
Realized net investment income (loss)
|
| | | | (20,156) | | | | | | 1,642 | | | | | | (6,803) | | | | | | 24,785 | | | | | | 25,958 | | | | | | 67,691 | | | | | | 34,474 | | |
Realized Income
|
| | | | 830,955 | | | | | | 712,704 | | | | | | 1,131,027 | | | | | | 882,937 | | | | | | 581,956 | | | | | | 503,486 | | | | | | 395,396 | | |
Other Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Fee Related Earnings margin(3)
|
| | | | 40.9% | | | | | | 40.1% | | | | | | 40.0% | | | | | | 39.1% | | | | | | 35.1% | | | | | | 31.9% | | | | | | 29.8% | | |
Effective management fee rate(4)
|
| | | | 1.01% | | | | | | 0.99% | | | | | | 0.99% | | | | | | 1.06% | | | | | | 1.09% | | | | | | 1.10% | | | | | | 1.07% | | |
| | |
Nine Months
Ended September 30, |
| |
Year Ended December 31,
|
| ||||||||||||||||||||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| |
2019
|
| |
2018
|
| |||||||||||||||||||||
Income before taxes
|
| | | $ | 849,963 | | | | | $ | 167,997 | | | | | $ | 510,806 | | | | | $ | 1,065,690 | | | | | $ | 379,478 | | | | | $ | 425,180 | | | | | $ | 184,341 | | |
Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Depreciation and amortization expense(1)
|
| | | | 194,174 | | | | | | 297,795 | | | | | | 335,083 | | | | | | 106,705 | | | | | | 40,662 | | | | | | 40,602 | | | | | | 25,087 | | |
Equity compensation expense(2)
|
| | | | 192,964 | | | | | | 150,677 | | | | | | 198,948 | | | | | | 237,191 | | | | | | 122,986 | | | | | | 97,691 | | | | | | 89,724 | | |
Acquisition-related compensation expense(3)
|
| | | | 1,831 | | | | | | 204,189 | | | | | | 206,252 | | | | | | 66,893 | | | | | | — | | | | | | — | | | | | | — | | |
Acquisition-related incentive fees
|
| | | | — | | | | | | — | | | | | | — | | | | | | (47,873) | | | | | | — | | | | | | — | | | | | | — | | |
Acquisition and merger-related expense
|
| | | | 10,126 | | | | | | 12,046 | | | | | | 15,197 | | | | | | 21,162 | | | | | | 11,194 | | | | | | 16,266 | | | | | | 2,936 | | |
Placement fee adjustment
|
| | | | (6,032) | | | | | | 7,611 | | | | | | 2,088 | | | | | | 78,883 | | | | | | 19,329 | | | | | | 24,306 | | | | | | 20,343 | | |
Offering costs
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3 | | |
Other (income) expense, net
|
| | | | 589 | | | | | | 934 | | | | | | 1,874 | | | | | | (19,886) | | | | | | 10,207 | | | | | | (460) | | | | | | 13,486 | | |
(Income) loss before taxes of non-controlling interests in consolidated subsidiaries
|
| | | | (6,892) | | | | | | (6,583) | | | | | | (357) | | | | | | (23,397) | | | | | | 3,817 | | | | | | 2,951 | | | | | | 3,343 | | |
(Income) loss before taxes of non-controlling interests in Consolidated Funds, net of eliminations
|
| | | | (179,362) | | | | | | (48,897) | | | | | | (119,664) | | | | | | (120,457) | | | | | | (28,203) | | | | | | (39,174) | | | | | | (20,643) | | |
Total performance (income) loss – unrealized
|
| | | | (384,533) | | | | | | (280,290) | | | | | | (106,978) | | | | | | (1,744,056) | | | | | | 7,554 | | | | | | (303,142) | | | | | | 247,212 | | |
Total performance related compensation –
unrealized |
| | | | 261,996 | | | | | | 207,115 | | | | | | 88,502 | | | | | | 1,316,205 | | | | | | (11,552) | | | | | | 206,799 | | | | | | (221,343) | | |
| | |
Nine Months
Ended September 30, |
| |
Year Ended December 31,
|
| ||||||||||||||||||||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| |
2019
|
| |
2018
|
| |||||||||||||||||||||
Total net investment (income) loss – unrealized
|
| | | | (103,869) | | | | | | 110 | | | | | | (724) | | | | | | (54,123) | | | | | | 26,484 | | | | | | 32,467 | | | | | | 50,907 | | |
Realized Income
|
| | | | 830,955 | | | | | | 712,704 | | | | | | 1,131,027 | | | | | | 882,937 | | | | | | 581,956 | | | | | | 503,486 | | | | | | 395,396 | | |
Total performance income – realized
|
| | | | (189,568) | | | | | | (143,946) | | | | | | (418,021) | | | | | | (474,427) | | | | | | (524,229) | | | | | | (348,211) | | | | | | (350,246) | | |
Total performance related compensation – realized
|
| | | | 133,472 | | | | | | 91,491 | | | | | | 274,541 | | | | | | 328,583 | | | | | | 399,462 | | | | | | 258,355 | | | | | | 247,692 | | |
Total investment (income) loss – realized
|
| | | | 20,156 | | | | | | (1,642) | | | | | | 6,803 | | | | | | (24,785) | | | | | | (25,958) | | | | | | (67,691) | | | | | | (34,474) | | |
Fee Related Earnings
|
| | | $ | 795,015 | | | | | $ | 658,607 | | | | | $ | 994,350 | | | | | $ | 712,308 | | | | | $ | 431,231 | | | | | $ | 345,939 | | | | | $ | 258,368 | | |
|
| | |
Nine months
ended September 30, |
| |
Year Ended December 31,
|
| ||||||||||||||||||||||||||||||||||||
| | |
2023
|
| |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| |
2019
|
| |
2018
|
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Performance income and net investment income reconciliation:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Carried interest allocation
|
| | | $ | 541,828 | | | | | $ | 417,779 | | | | | $ | 458,012 | | | | | $ | 2,073,551 | | | | | $ | 505,608 | | | | | $ | 621,872 | | | | | $ | 42,410 | | |
Incentive fees
|
| | | | 33,327 | | | | | | 29,979 | | | | | | 301,187 | | | | | | 332,876 | | | | | | 37,902 | | | | | | 69,197 | | | | | | 63,380 | | |
Carried interest allocation and incentive fees
|
| | | | 575,155 | | | | | | 447,758 | | | | | | 759,199 | | | | | | 2,406,427 | | | | | | 543,510 | | | | | | 691,069 | | | | | | 105,790 | | |
Performance income – realized from Consolidated Funds
|
| | | | 138 | | | | | | 34 | | | | | | 3,980 | | | | | | 5,458 | | | | | | 141 | | | | | | 13,851 | | | | | | 4,000 | | |
Fee related performance revenues
|
| | | | (6,937) | | | | | | (15,041) | | | | | | (239,425) | | | | | | (137,879) | | | | | | (22,987) | | | | | | (54,307) | | | | | | (6,961) | | |
Acquisition-related incentive fees
|
| | | | — | | | | | | — | | | | | | — | | | | | | (47,873) | | | | | | — | | | | | | — | | | | | | — | | |
Total performance (income) loss – unrealized
|
| | | | (375,306) | | | | | | (280,290) | | | | | | (99,429) | | | | | | (1,744,056) | | | | | | 7,554 | | | | | | (303,142) | | | | | | 247,212 | | |
Performance (income) loss of non-controlling interests in consolidated subsidiaries
|
| | | | (3,482) | | | | | | (8,515) | | | | | | (6,304) | | | | | | (7,650) | | | | | | (3,989) | | | | | | 740 | | | | | | 205 | | |
Performance income – realized
|
| | | $ | 189,568 | | | | | $ | 143,946 | | | | | $ | 418,021 | | | | | $ | 474,427 | | | | | $ | 524,229 | | | | | $ | 348,211 | | | | | $ | 350,246 | | |
Underwriter
|
| |
Principal
Amount of Notes |
| |||
Morgan Stanley & Co. LLC
|
| | | $ | 105,300,000 | | |
BofA Securities, Inc.
|
| | | | 105,300,000 | | |
SMBC Nikko Securities America, Inc.
|
| | | | 105,250,000 | | |
Wells Fargo Securities, LLC
|
| | | | 105,250,000 | | |
Citigroup Global Markets Inc.
|
| | | | 21,050,000 | | |
Deutsche Bank Securities Inc.
|
| | | | 21,050,000 | | |
MUFG Securities Americas Inc.
|
| | | | 21,050,000 | | |
Academy Securities, Inc.
|
| | | | 3,150,000 | | |
Loop Capital Markets LLC
|
| | | | 3,150,000 | | |
R. Seelaus & Co., LLC.
|
| | | | 3,150,000 | | |
Samuel A. Ramirez & Company, Inc.
|
| | | | 3,150,000 | | |
Siebert Williams Shank & Co., LLC
|
| | | | 3,150,000 | | |
Total
|
| | | $ | 500,000,000 | | |
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| EXPERTS | | | | | 34 | | |
| | | | | 35 | | | |
| | | | | 36 | | |
Exhibit 107
Calculation of Filing Fee Tables
424(b)(5)
(Form Type)
Ares Management Corporation
Ares Holdings L.P.*
Ares Management LLC*
Ares Investments Holdings LLC*
Ares Finance Co. LLC*
Ares Finance Co. II LLC*
Ares Finance Co. III LLC*
Ares Finance Co. IV LLC*
(Exact Name of Registrant as Specified in its Charter)
Table 1: Newly Registered Securities
Security Type |
Security Class Title |
Fee Calculation or Carry Forward Rule(1) |
Amount to be Registered |
Proposed Maximum Offering Price Per Unit |
Maximum Aggregate Offering Price |
Fee Rate |
Amount of Registration Fee(2) | |
Fees to Be Paid | Debt | 6.375% Senior Notes due 2028 | 457(r) | $500,000,000 | 100% | $500,000,000 | 0.00014760 | $73,800 |
Debt | Guarantees of 6.375% Senior Notes due 2028 | Other | — | — | — | — | (2) | |
Fees Previously Paid | — | — | — | — | — | — | — | |
Total Offering Amounts | $500,000,000 | $73,800 | ||||||
Total Fees Previously Paid | — | |||||||
Total Fee Offsets | — | |||||||
Net Fee Due | $73,800 |
* | Additional Registrant |
(1) | In accordance with Rules 456(b) and 457(r) under the Securities Act of 1933, as amended (the “Securities Act”), Ares Management Corporation (the “Company”) initially deferred payment of all of the registration fees for the Registration Statement on Form S-3 (Registration No. 333-270053), filed with the Securities and Exchange Commission (the “SEC”) on February 27, 2023. This filing fee exhibit is in connection with a final prospectus supplement (the “prospectus supplement”) dated November 7, 2023, filed by the Company and Additional Registrants with the SEC pursuant to Rule 424(b) of the Securities Act. |
(2) | The notes issued by the Company are fully and unconditionally guaranteed by the Additional Registrants. Pursuant to Rule 457(n) under the Securities Act, no separate fee is payable with respect to the guarantees. |
1 Year Ares Management Chart |
1 Month Ares Management Chart |
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