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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Ares Management Lp.
Ares Management Lp's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:
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Declines or delays and transaction activity may impact our fund distributions and net realized performance income which could adversely impact our cash flows and liquidity.
Market depreciation across several energy sector investments led to the reversal of unrealized carried interest allocation of $75.1 million for ACOF V. Real estate funds 296.7 Market appreciation from properties within real estate equity funds, primarily driven by gains generated across several industrial and multifamily assets, generated carried interest allocation of $24.2 million from Ares U.S. Real Estate Opportunity Fund III, L.P. ("AREOF III"), $40.5 million from US Real Estate Fund VIII, L.P. ("US VIII"), $83.4 million from US Real Estate Fund IX, L.P. ("US IX"), $14.8 million from Ares European Real Estate Fund IV, L.P. ("EF IV") and $69.9 million from Ares European Real Estate Fund V SCSp.
Cash flows from management fees may be impacted by a slowdown or declines in deployment, declines or write downs in valuations, or a slowdown or negatively impacted fundraising.
Generally, if at the termination of a fund (and in some cases at interim points in the life of a fund), the fund has not achieved investment returns that exceed the preferred return threshold or the general partner receives net profits over the life of the fund in excess of its allocable share under the applicable partnership agreement, the general partner will be obligated to repay an amount equal to the extent the previously distributed carried interest exceeds the amounts to which the general partner is entitled.
Greater competition, high valuations, cost of credit and other general market conditions have affected and may continue to affect our ability to identify and execute attractive investments.
We recognize accrued interest and...Read more
The increase was primarily driven...Read more
We also used cash to...Read more
The increase in salaries and...Read more
Realized net investment income for...Read more
The decrease in effective management...Read more
Incentive Eligible Assets Under Management,...Read more
These proceeds were partially offset...Read more
Carried interest is generally calculated...Read more
Those operating expenses that were...Read more
The infrastructure and power funds...Read more
Those operating expenses that were...Read more
Those operating expenses that were...Read more
Those operating expenses that were...Read more
The insurance strategy has an...Read more
For the three months ended...Read more
For the three months ended...Read more
For the three months ended...Read more
The charts below present our...Read more
This use of cash increased...Read more
Certain expenses have also increased...Read more
Base management fees we receive...Read more
The year ended December 31,...Read more
Carried interest entitles the general...Read more
The increase was primarily driven...Read more
The change was principally driven...Read more
As a result of generating...Read more
Details regarding our management fees...Read more
The activity was principally composed...Read more
Non-GAAP Financial Measures We use...Read more
To further facilitate an understanding...Read more
The chart below presents Strategic...Read more
These expenses were driven by...Read more
The flexibility of the capital...Read more
The increase was primarily attributable...Read more
Real Estate Debt: Fee related...Read more
Strategic Initiatives-Assets Under Management The...Read more
Despite the significant addition in...Read more
Our operating expenses, most notably...Read more
Our operating expenses, most notably...Read more
Our operating expenses, most notably...Read more
Under the terms of the...Read more
Conversely, any excess of the...Read more
Our ability to maintain and...Read more
PCS and ACE IV generated...Read more
The chart below presents Private...Read more
Certain funds may make distributions...Read more
We use our best estimates...Read more
(5)The gross IRR is an...Read more
(6)The net IRR is an...Read more
For the special opportunities funds...Read more
(6)The net IRR is an...Read more
(6)The net IRR is an...Read more
(5)The gross IRR is an...Read more
(6)The net IRR is an...Read more
(5)The gross IRR is an...Read more
(6)The net IRR is an...Read more
The decrease in effective management...Read more
The effective management fee rate...Read more
Although cash generated from our...Read more
A fund harvesting investments is...Read more
General, administrative and other expenses...Read more
General, administrative and other expenses...Read more
General, administrative and other expenses...Read more
General, administrative and other expenses...Read more
General, administrative and other expenses...Read more
General, administrative and other expenses...Read more
The increase was primarily driven...Read more
The increase was also driven...Read more
Consolidated Funds' expenses consist primarily...Read more
The increase was primarily attributable...Read more
For the specific components and...Read more
The decrease in effective management...Read more
Management fees we receive from...Read more
Collectively, these expenses increased by...Read more
Collectively, these expenses increased by...Read more
Collectively, these expenses increased by...Read more
Collectively, these expenses increased by...Read more
In addition, the SSG Acquisition...Read more
Unanticipated events and circumstances may...Read more
Operating Activities In the table...Read more
Incremental changes in fair value...Read more
Management believes that the Company...Read more
Part I Fees increased primarily...Read more
Significant judgment is required in...Read more
As a result, our effective...Read more
The increase in salaries and...Read more
Strategic Initiatives-Year Ended December 31,...Read more
The management fees for special...Read more
A portion of these proceeds...Read more
Other inputs include interest rate,...Read more
Transaction losses during the year...Read more
Other income (expense), net consists...Read more
The carried interest allocation generated...Read more
We entered into the TRA...Read more
Under GAAP, the amount of...Read more
As of December 31, 2021,...Read more
The bargain purchase gain resulted...Read more
General and administrative expenses include...Read more
A realized gain (loss) may...Read more
A realized gain (loss) may...Read more
Certain expenses have also increased...Read more
During the year ended December...Read more
Interest expense increased by $11.9...Read more
The purchase agreement with Black...Read more
Our investment management agreements of...Read more
Fee related performance revenues increased...Read more
Fee related performance revenues increased...Read more
The chart below presents Real...Read more
Income Tax Expense Income tax...Read more
The increase was also driven...Read more
The changes in the comparative...Read more
Higher inflation globally helped nominal...Read more
The issuance of the 2051...Read more
The issuance of the 2030...Read more
Realized net investment income for...Read more
The general partner or an...Read more
Performance related compensation may include...Read more
Net income (loss) attributable to...Read more
For American-style waterfalls, the general...Read more
(2)Unrealized value represents the fund's...Read more
(2)Unrealized value represents the limited...Read more
(2)Unrealized value represents the fund's...Read more
The TRA liability also decreased...Read more
The chart below presents Credit...Read more
Realized net performance income and...Read more
We presented the portion of...Read more
While income before taxes increased,...Read more
Management fees included $2.0 million...Read more
The following table presents the...Read more
Our effective tax rate is...Read more
If, based on this analysis,...Read more
The increase in salaries and...Read more
(4)The net MoIC is calculated...Read more
The change included an increase...Read more
In 2021, global equity markets...Read more
Real Estate Group: ?Real Estate...Read more
Certain expenses have also increased...Read more
Revenues and other expense attributable...Read more
Credit Group-Fund Performance Metrics as...Read more
Secondary Solutions Group-Year Ended December...Read more
Net returns are calculated by...Read more
The decrease in effective management...Read more
Secondary Solutions Group-Fund Performance Metrics...Read more
Operations Management Group-Year Ended December...Read more
Realized Income: The following table...Read more
Additional details regarding our carried...Read more
Through the first three quarters...Read more
Furthermore, expenses and the effects...Read more
The FTSE EPRA/NAREIT Developed Europe...Read more
Private equity market activity remained...Read more
We entered into a TRA...Read more
Our funds have a stable...Read more
The fees earned include trade-based...Read more
The increase for the year...Read more
Other income, net for the...Read more
Despite direct remarks from the...Read more
The increase in salaries and...Read more
We may also engage in...Read more
However, these fears were assuaged...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Ares Management Lp provided additional information to their SEC Filing as exhibits
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