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Ares Management Corp (ARES) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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ARES Annual Reports

Ares Management Lp

CIK: 1176948 Ticker: ARES

Exhibit 99.1
 areslogoa.jpg

 
ARES MANAGEMENT CORPORATION REPORTS FOURTH QUARTER AND FULL YEAR 2021 RESULTS
 
NEW YORK--Ares Management Corporation (NYSE:ARES) today reported its financial results for its fourth quarter and full year ended December 31, 2021.

GAAP net income attributable to Ares Management Corporation was $124.1 million and $408.8 million, respectively, for the quarter and year ended December 31, 2021. On a basic basis, net income attributable to Ares Management Corporation per share of Class A and non-voting common stock was $0.68 and $2.24, respectively, for the quarter and year ended December 31, 2021. On a diluted basis, net income attributable to Ares Management Corporation per share of Class A and non-voting common stock was $0.66 and $2.15, respectively, for the quarter and year ended December 31, 2021.

After-tax realized income was $291.1 million and $803.7 million, respectively, for the quarter and year ended December 31, 2021. After-tax realized income per share of Class A and non-voting common stock was $0.85 and $2.57, respectively, for the quarter and year ended December 31, 2021. Fee related earnings were $253.3 million and $712.3 million, respectively, for the quarter and year ended December 31, 2021.

“2021 was a transformational year for Ares as we exceeded $300 billion of AUM for the first time on growth of 55% for the year and closed two highly strategic acquisitions,” said Michael Arougheti, Chief Executive Officer and President of Ares. “We had record organic fundraising of $25 billion in the fourth quarter and approximately $77 billion for the full year, well in excess of our expectations, as both institutional and retail investors are seeing the benefits of the higher returns and lower volatility that we generate with our alternative investments.”

“All key financial metrics were at record levels in the fourth quarter, including assets under management, fee related earnings and after-tax realized income, all having increased more than 50% on a year over year basis,” said Jarrod Phillips, Chief Financial Officer of Ares. “Our strong fund performance drove record levels of net realized performance income and fee related performance revenues in the fourth quarter. Even with our strong realization activity in 2021, our net accrued performance income increased 130% year over year.”

Common Dividend

Ares declared a quarterly dividend of $0.61 per share of its Class A and non-voting common stock, payable on March 31, 2022 to its Class A and non-voting common stockholders of record at the close of business on March 17, 2022.

Dividend Reinvestment Program

Ares has a Dividend Reinvestment Program for its Class A common stockholders that will be effective for the quarterly dividend on March 31, 2022. American Stock Transfer and Trust Company is engaged to administer the plan on behalf of Ares. Additional information can be located on the Investor Resources section of our website.

Additional Information

Ares issued a full detailed presentation of its fourth quarter and full year 2021 results, which can be viewed at www.aresmgmt.com on the Investor Resources section of our home page under Events and Presentations. The presentation is titled "Fourth Quarter and Full Year 2021 Earnings Presentation."

2022 Annual Stockholders Meeting

The Board of Directors set April 13, 2022 as the record date for the Company’s 2022 Annual Meeting of Stockholders. The 2022 Annual Meeting of Stockholders will be held on June 9, 2022.

Conference Call and Webcast Information

Ares will host a conference call on February 11, 2022 at 12:00 p.m. (Eastern Time) to discuss fourth quarter and full year results. All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of our website at www.aresmgmt.com. Please visit the website to test your connection before the webcast. Domestic callers can access the conference call by dialing (888) 317-6003. International callers can access the conference call by dialing +1 (412) 317-6061. All callers will need to enter the Participant Elite Entry Number 4069073 followed by the # sign and reference “Ares Management Corporation” once connected with the operator. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected. For interested parties, an archived replay of the call will be available through March 11, 2022 to domestic callers by dialing (877) 344-7529 and to international callers by dialing +1 (412) 317-0088. For all replays, please reference
1

The following information was filed by Ares Management Lp (ARES) on Friday, February 11, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Ares Management Lp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Financial Condition
Consolidated Statements Of Financial Condition (Parenthetical)
Consolidated Statements Of Operations
Business Combinations
Business Combinations (Tables)
Business Combinations - Acquisition Date Fair Value (Details)
Business Combinations - Fair Value Of Assets Acquired And Liabilities (Details)
Business Combinations - Narrative (Details)
Business Combinations - Supplemental Information On Unaudited Pro Forma (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Leases: Assets And Liabilities (Details)
Commitments And Contingencies - Leases: Lease Expense (Details)
Commitments And Contingencies - Leases: Lease Term And Discount Rate (Details)
Commitments And Contingencies - Leases: Maturity Of Lease Liabilities (Details)
Commitments And Contingencies - Leases: Other Information (Details)
Commitments And Contingencies - Narrative (Details)
Consolidation
Consolidation (Tables)
Consolidation - Balance Sheet (Details)
Consolidation - Cash Flow Statement (Details)
Consolidation - Deconsolidated Funds (Details)
Consolidation - Income Statement (Details)
Consolidation - Variable Interest Entities (Details)
Debt
Debt (Tables)
Debt - Credit Facilities Of The Consolidated Funds (Details)
Debt - Debt Issuance Costs (Details)
Debt - Debt Obligations (Details)
Debt - Loan Obligations Of The Consolidated Clos (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Net Realized Gain/Loss (Details)
Derivative Financial Instruments - Schedule Of Fair Value And Notional Amounts Of Derivative Contracts By Major Product Type On A Gross Basis (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Antidilutive (Details)
Earnings Per Share - Computation Of Basic And Diluted Earnings Per Share (Details)
Equity And Redeemable Interest
Equity And Redeemable Interest (Tables)
Equity And Redeemable Interest - Common Stock (Details)
Equity And Redeemable Interest - Common Stock Offering (Details)
Equity And Redeemable Interest - Preferred Stock (Details)
Equity And Redeemable Interest - Redeemable Interests (Details)
Equity Compensation
Equity Compensation (Tables)
Equity Compensation - Equity Incentive Plan (Details)
Equity Compensation - Performance-Based Restricted Unit Awards With A Market Condition (Details)
Equity Compensation - Restricted Units (Details)
Equity Compensation - Summary Of Options Activity (Details)
Fair Value
Fair Value (Tables)
Fair Value - Assets And Liabilities Measured At Fair Value (Details)
Fair Value - Changes In Fair Value Of Level Iii Measurements (Details)
Fair Value - Investments Using Nav Per Share (Details)
Fair Value - Narrative (Details)
Fair Value - Valuation Techniques (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Carrying Value Of Intangible Assets (Details)
Goodwill And Intangible Assets - Future Amortization (Details)
Goodwill And Intangible Assets - Goodwill (Details)
Goodwill And Intangible Assets - Narrative (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Deferred Taxes (Details)
Income Taxes - Effective Income Tax Rate (Details)
Income Taxes - Narrative (Details)
Income Taxes - Provision For Income Taxes (Details)
Investments
Investments (Tables)
Investments - Equity Method Investments (Details)
Investments - Investments Of The Consolidated Funds (Details)
Investments - Narrative (Details)
Investments - Schedule Of Investments (Details)
Organization
Organization (Details)
Other Assets
Other Assets (Tables)
Other Assets - Components Of Other Assets (Details)
Other Assets - Fixed Assets, Net (Details)
Related Party Transactions
Related Party Transactions (Details)
Related Party Transactions (Tables)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Expenses (Details)
Segment Reporting - Operating Segments (Details)
Segment Reporting - Other Income (Expense) (Details)
Segment Reporting - Reconciliation Of Income Before Taxes (Details)
Segment Reporting - Revenue Reconciliation (Details)
Segment Reporting - Revenue, Expenses And Realized Net Investment Income (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Ticker: ARES
CIK: 1176948
Form Type: 10-K Annual Report
Accession Number: 0001628280-22-004289
Submitted to the SEC: Mon Feb 28 2022 5:20:58 PM EST
Accepted by the SEC: Mon Feb 28 2022
Period: Friday, December 31, 2021
Industry: Investment Advice

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