NASHVILLE, Tenn., April 21, 2025 /PRNewswire/ -- Epika Fleet Services, Inc. ("Epika" or the "Company"), a leading mobile-focused provider of preventative maintenance and repair services for commercial trucking fleets, announced that an Ares Private Equity fund ("Ares") has acquired a majority stake in the Company. The transaction provides Epika with significant additional capital to support investments in the quality and buildout of its service offerings, expand its customer base in underserved geographies ...

Core Insights - Ares Management Corporation is a private markets investment manager focused on private credit and real assets, founded in 1997 and publicly listed [1] Group 1: Company Overview - Ares Management Corporation specializes in identifying high-quality companies and applying a disciplined valuation approach to uncover underappreciated investment opportunities [1] - The firm aims to invest in cash-rich companies with strong balance sheets and shareholder-friendly policies [1] - Ares employs a long-only investment strategy with a long-term focus [1]

Core Insights - Omni Bridgeway and Ares Management have completed a strategic transaction to establish Omni Bridgeway Fund 9, which includes a diversified global portfolio of over 150 legal assets [1][2] - Ares acquired a 70% interest in Omni Bridgeway Fund 9 for approximately A$320 million, resulting in a day-1 cash multiple on invested capital exceeding 3x for Omni Bridgeway [2] - The transaction is significant as it represents the first continuation fund in the legal finance industry and one of the largest secondary market transactions in scope and size [2][6] Company Insights - Omni Bridgeway is a global alternative asset manager specializing in legal assets, with approximately A$3.5 billion in cumulative capital raised across 11 funds and a track record of over 35 years [7] - The company has a team of 175 professionals operating from over 20 locations in 15 countries, making it the largest and most diversified fund platform for managing legal assets [7] - The transaction has allowed Omni Bridgeway to fully deleverage its balance sheet while providing significant added working capital, enhancing liquidity for reinvestment in new funds [3][6] Industry Insights - The transaction highlights the increasing interest of institutional investors in legal assets due to their attractive, asymmetrical, and uncorrelated return profile, especially in a volatile capital markets environment [4] - Ares Management's selection of Omni Bridgeway reflects the global scale, diversification, and long-term track record of Omni Bridgeway's portfolio, showcasing the value of its institutional-grade asset management platform [5] - The deal demonstrates that deep pools of institutional secondary capital are available to increase liquidity and mitigate duration risk for well-managed portfolios of legal assets [6]

HAMILTON, Bermuda, March 26, 2025 (GLOBE NEWSWIRE) -- Aspida Life Re Ltd. ("Aspida Re"), a reinsurance company focused on providing life and annuity reinsurance solutions to companies globally, announced today the recent appointment of Elinor Friedman, FSA, MAAA to its Board of Directors ("the Board"). Ms. Friedman's extensive product development and pricing knowledge will complement and add broader insight to Aspida Re's board composition. Ms. Friedman is a seasoned actuary with vast experience in the life ...

Asset Management and Growth - The company reported a significant increase in assets under management (AUM), reaching $X billion, representing a Y% growth compared to the previous year[19]. - The company anticipates a continued upward trend in AUM, projecting an increase of B% over the next fiscal year[19]. - Ares has $484.4 billion in assets under management (AUM) as of December 31, 2024, up from $82.0 billion a decade ago, reflecting a compound annual growth rate (CAGR) of 27% over the past five years and 19% over the past ten years[26][27]. - In 2024, Ares raised $92.7 billion in gross new capital commitments across more than 185 investment vehicles, with $70.4 billion from over 660 institutional investors, including over 310 new investors[52]. - The total AUM of the company reached $484.4 billion as of December 31, 2024, with 80% attributable to direct institutional relationships[118]. - The number of direct institutional relationships grew from over 850 in 2019 to approximately 2,700 in 2024[116]. Revenue and Earnings - The effective management fee rate was reported at Z%, indicating a stable revenue stream from management fees[20]. - Fee related earnings (FRE) increased by A%, reflecting improved core operating performance driven by management fees and fee related performance revenues[20]. - New product offerings in the wealth management sector are expected to contribute an additional C million in revenue in the upcoming quarter[16]. - A new partnership initiative is expected to generate G million in additional revenue streams by leveraging existing client relationships[16]. - The company derives a significant portion of its management fees from ARCC, indicating reliance on specific revenue sources[162]. - The management fees from ARCC comprise a significant portion of the company's total management fees, and any decline in ARCC's assets or net investment income could adversely affect revenues[191]. Strategic Initiatives - The company is exploring strategic acquisitions to enhance market presence, with a focus on expanding into D regions[16]. - The company engages in strategic transactions, including acquisitions and investments, to enhance its growth strategy[35]. - The company is exploring growth strategies that include acquisitions and entering new lines of business, which involve various risks and uncertainties[162]. - The company plans to expand into new geographic markets and investment strategies, including Japan, Vietnam, and Brazil, which may introduce additional risks and complexities[198]. - The company is exploring growth through acquisitions of other investment management companies, which may involve additional risks and uncertainties[198]. Operational Efficiency and Technology - The management highlighted ongoing investments in technology to improve operational efficiency, with an estimated budget of E million allocated for the next year[16]. - The firm emphasizes a culture of collaboration and responsibility, which is critical for attracting and retaining top talent in the alternative investment management industry[38]. - Technological innovation, particularly in artificial intelligence and data science, is crucial for the company's future competitiveness, and failure to advance in these areas may result in a competitive disadvantage[158]. - The company is required to continuously develop systems and infrastructure to address the increasing complexity of international investments, which may incur significant additional expenses[197]. Regulatory Environment - The SEC has increased regulatory scrutiny on investment management firms, which may impact the company's ability to raise capital and distribute products to retail customers[143]. - The company is subject to extensive regulations, including compliance with the Investment Advisers Act and various global privacy laws, which could affect operational profitability[139][141]. - The U.K. and EU regulatory frameworks continue to impact the company's operations, especially in relation to marketing funds to investors in the EEA[149][150]. - The AIFMD imposes significant regulatory requirements on alternative investment fund managers, affecting operational conditions and transparency[151]. - Increased regulatory scrutiny, particularly regarding artificial intelligence technologies, could materially impact the company's operations[203]. - Compliance with the Dodd-Frank Act may impose additional costs and operational challenges, particularly regarding derivatives transactions and mandatory clearing requirements[206][207]. Market Competition - The company competes in an intensely competitive investment management industry, with expectations of continued competition globally and regionally[155]. - Competition in the investment management sector is intensifying, with larger competitors having greater financial and technical resources, which may create competitive disadvantages for the company[157]. - The company anticipates that institutional investors will consolidate their investments among fewer managers, intensifying competition in the industry[157]. - The investment management business is highly competitive, with various factors influencing competition, including investment performance and brand reputation[184]. Risks and Challenges - Inflation has adversely affected the company's business and the financial condition of its funds and portfolio companies, with ongoing inflation rates remaining above historical levels[171]. - The company is subject to various risks related to market volatility, including geopolitical tensions and economic uncertainties, which could adversely impact investment performance and capital raising activities[165]. - Poor performance of funds or regulatory constraints could hinder the ability to raise new capital, affecting future growth prospects[173]. - The company faces challenges in attracting and retaining qualified employees, which is critical for maintaining competitive effectiveness[159]. - The use of leverage exposes the company to substantial risks, particularly related to interest rate fluctuations and market conditions[168]. - Conflicts of interest may arise in investment activities, particularly with overlapping investment objectives among funds, potentially affecting capital allocation decisions[177].

Ares Management Corporation (NYSE:ARES) Q4 2024 Earnings Conference Call February 5, 2025 10:00 AM ET Company Participants Greg Mason - Co-Head-Public Markets IR Michael Arougheti - CEO Jarrod Phillips - CFO Blair Jacobson - Co-President Conference Call Participants Craig Siegenthaler - Bank of America Kyle Voigt - KBW Steven Chubak - Wolfe Research Alex Blostein - Goldman Sachs Mike Brown - Wells Fargo Securities Bill Katz - TD Cowen Ken Worthington - JPMorgan Brennan Hawken - UBS Ben Budish - Barclays Mic ...

Ares Management Corporation Reports Fourth Quarter and Full Year 2024 Results NEW YORK--Ares Management Corporation (NYSE:ARES) today reported its financial results for its fourth quarter and full year ended December 31, 2024. GAAP net income attributable to Ares Management Corporation was $177.3 million for the quarter ended December 31, 2024. On a basic and diluted basis, net income attributable to Ares Management Corporation per share of Class A and non-voting common stock was $0.72 for the quarter ended ...

For the quarter ended December 2024, Ares Management (ARES) reported revenue of $1.24 billion, up 30.6% over the same period last year. EPS came in at $1.23, compared to $1.21 in the year-ago quarter.The reported revenue represents a surprise of +1.67% over the Zacks Consensus Estimate of $1.22 billion. With the consensus EPS estimate being $1.29, the EPS surprise was -4.65%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

Ares Management (ARES) came out with quarterly earnings of $1.23 per share, missing the Zacks Consensus Estimate of $1.29 per share. This compares to earnings of $1.21 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -4.65%. A quarter ago, it was expected that this private equity firm would post earnings of $0.94 per share when it actually produced earnings of $0.95, delivering a surprise of 1.06%.Over the last four quarters, t ...

Financial Performance - GAAP net income attributable to Ares Management Corporation was $177.3 million for Q4 2024 and $463.7 million for the full year 2024[11]. - Fee Related Earnings for Q4 2024 were $396.2 million, reflecting a 7% increase from Q4 2023[14]. - After-tax Realized Income per share of Class A and non-voting common stock was $1.23 for Q4 2024, a 2% increase from $1.21 in Q4 2023[14]. - Total revenues for Q4 2024 were $1.26 billion, compared to $1.05 billion in Q4 2023, marking a significant increase[13]. - Realized income increased by 10% in Q4-24 to $529.1 million, and by 17% for FY-24 to $1.7 billion[54]. - Fee related earnings for the year ended December 31, 2024, reached $1,568,157 thousand, up from $1,317,012 thousand in 2023, indicating a year-over-year increase of 19.1%[72]. - After-tax realized income for the quarter ended December 31, 2024, was $434,685 thousand, compared to $400,382 thousand in Q4 2023, reflecting an increase of 8.6%[74]. - The realized income per share for Q4 2024 was $1.30, slightly up from $1.26 in Q4 2023, marking a 3.2% increase[74]. Assets Under Management (AUM) - Total Assets Under Management (AUM) reached $484.4 billion, with Fee Paying AUM (FPAUM) at $292.6 billion[11]. - Assets Under Management (AUM) as of December 31, 2024, reached $484.4 billion, marking a 16% increase from the prior year, while FPAUM increased by 12% to $292.6 billion[17][18]. - AUM Not Yet Paying Fees was $95.0 billion as of December 31, 2024, reflecting a 28% increase from the prior year[30]. - Perpetual Capital as of December 31, 2024, was $133.6 billion, representing a 28% increase year-over-year[22]. - Available Capital as of December 31, 2024, was $133.1 billion, a 19% increase from the prior year, driven by commitments to U.S. and European direct lending and real estate debt strategies[29]. - The total AUM as of Q4-24 was $484.4 billion, with Credit accounting for $348.8 billion, Real Assets $75.3 billion, Private Equity $24.0 billion, and Secondaries $29.2 billion[84]. Capital Raising and Deployment - Ares raised $28.3 billion in gross new capital for Q4 2024 and $92.7 billion for the full year 2024, with capital deployment of $32.1 billion and $106.7 billion respectively[11]. - Total gross capital deployment in Q4 2024 was $32.1 billion, compared to $24.0 billion in Q4 2023, and for FY 2024, it was $106.7 billion, up from $68.1 billion in FY 2023[46]. - Gross new capital commitments for Q4 2024 totaled $28.3 billion, with a full year total of $92.7 billion, reflecting significant equity and debt commitments across various funds[16]. - Capital deployment by drawdown funds was $14.0 billion in Q4-24, a decrease of 9% from $15.4 billion in Q4-23, while deployment by perpetual capital vehicles increased to $17.2 billion from $8.2 billion, a growth of 109%[48]. - Gross capital deployment totaled $25.8 billion in Q4-24, representing a 25% increase from $20.7 billion in Q4-23, and $87.6 billion for FY-24 compared to $70.5 billion in FY-23[50]. Management Fees and Earnings - Management fees for Q4 2024 were $779.2 million, up from $697.8 million in Q4 2023, representing an 11% increase[13]. - Management and other fees increased by 14% in Q4-24 to $585.6 million, compared to $514.7 million in Q4-23, and by 17% for FY-24 to $2.2 billion[50]. - The effective management fee rate remained stable at 1.02% for both Q4 2024 and Q4 2023[14]. - Fee related performance revenues for FY 2024 were $231.5 million, primarily generated from U.S. and European private equity secondaries strategies[42]. - Fee related earnings increased by 18% in Q4-24 to $39.2 million, and by 21% for FY-24 to $126.2 million, driven by management fees and net fee related performance revenues[68]. Investment Performance - The Credit Group reported net returns of 2.3% for Q4 2024 in the alternative credit strategy, and 7.8% for the full year 2024[112]. - The U.S. senior direct lending strategy achieved net returns of 2.3% for Q4 2024 and 9.3% for FY 2024[112]. - The European direct lending strategy reported net returns of 2.1% for Q4 2024 and 9.0% for FY 2024[112]. - The APAC credit strategy delivered net returns of 3.2% for Q4 2024 and 9.4% for FY 2024[112]. - Total performance income-realized from consolidated funds was $275.25 million for Q4 2024, compared to $226.33 million in Q4 2023, reflecting a 21.6% increase[109]. - The carried interest allocation for Q4 2024 was $196.17 million, significantly up from $76.75 million in Q4 2023[109]. Strategic Initiatives - Ares completed the acquisition of Walton Street Capital Mexico, increasing AUM by $2.5 billion[11]. - The company plans to continue expanding its market presence through strategic acquisitions and new product developments[110]. - The overall investment performance reflects a strong recovery and growth trajectory, positioning the company favorably for future opportunities[110]. - The company has a focus on expanding its managed accounts and commingled funds that meet perpetual capital criteria[126]. - Future strategies may include further development and distribution of investment offerings through the OMG[125].