|Bid||27.91 x 800|
|Ask||27.93 x 800|
|Day's Range||27.84 - 29.02|
|52 Week Range||16.18 - 29.53|
|Beta (3Y Monthly)||1.54|
|PE Ratio (TTM)||37.29|
|Earnings Date||Oct 30, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||1.28 (4.43%)|
|1y Target Est||31.64|
Favorable markets and conversions into C-corps, which kick-started post the 2017 tax overhaul, are providing a boost to shares of private equity firms.
(Bloomberg) -- Ares Management Corp. has raised its largest European real estate fund yet, with plans to target distressed and poorly managed assets.Ares EF V gathered 1.78 billion euros ($1.97 billion) and will be managed by the firm’s property unit, Ares Real Estate Group, headed by Bill Benjamin, company executives said Monday. About 40% has already been committed to nine investments including a residential portfolio in Madrid and a mixed office-retail building at 68 King William St. in London that was previously owned by an investor from Saudi Arabia.“We favor residential and offices in major European cities, as well as logistics, an asset class that has benefited from problems in the retail sector from the growth of e-commerce,” John Ruane, partner and co-head of European Real Estate Equity at the firm, said by phone.The fundraising close comes as economic headwinds threaten European growth, potentially throwing up distressed opportunities that Ares’s managers said they are experienced at spotting. On Monday, the latest worries for Europe’s outlook came from Germany, where the government is preparing fiscal-stimulus measures in the event of a deep recession, according to people familiar with the matter.Dublin DealThe fund will focus on France, Germany, Spain and the U.K., with projects also including 500 rental apartments in Dublin, Ruane said. Ares’s real estate unit manages about $11.9 billion in private equity and debt. The predecessor fund, EF IV, had a net 13.4% internal rate of return as of June 30, according to company filings.Separately, the firm is also looking to build its biggest-ever private equity fund with plans to raise about $9.5 billion, targeting businesses in North America and Europe, Bloomberg has reported. The new pool will be a successor to the money manager’s flagship private equity fund.The Los Angeles-based firm, which oversees about $142 billion across asset classes, was founded more than two decades ago.\--With assistance from Sridhar Natarajan.To contact the reporters on this story: Benjamin Robertson in London at email@example.com;Gillian Tan in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Shelley Robinson at email@example.com, ;Alan Goldstein at firstname.lastname@example.org, Josh Friedman, Vincent BielskiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Interim crude service utilizing the 24” EPIC Y-Grade pipeline from Crane to Robstown, TX, began delivering crude to several terminals in the Corpus Christi, TX, area. EPIC Crude Holdings, LP (“EPIC”) today announced that interim crude service on the 24” EPIC Y-Grade pipeline (the “Y-Grade Pipeline”) has begun, delivering crude from Crane, TX, to various terminals in Corpus Christi and Ingleside, TX. During interim crude service, EPIC will have the ability to deliver up to 400 thousand barrels of oil per day (MBbl/d) to multiple terminals and refiners in the Corpus Christi, TX, area.
(Bloomberg) -- Ares Management Corp., the investment firm focusing on a wide swath of credit, companies and real estate, is looking to build its biggest-ever private equity fund with plans to raise about $9.5 billion, according to a person with knowledge of the matter.The new pool will be a successor to the money manager’s flagship private equity fund, targeting businesses in North America and Europe, the person said, asking not to be identified as the information is confidential. The Los Angeles-based firm already oversees about $142 billion across asset classes, according to its website.A spokesman for Ares declined to comment.Buyout firms are building some of their largest war chests yet, positioning themselves to take advantage of opportunities if the aging bull market succumbs to mounting worries about the global economy that have wracked markets this month. Large money managers also have an advantage as institutional clients -- attracted to the steady returns that private equity can generate -- allocate money to a smaller pool of established managers.Blackstone Group LP, a leading alternative asset manager, already hauled in about $20 billion earlier this year for its latest private equity fund, heading for a record of its own. For now, the top spot for the largest single buyout fund still belongs to Apollo Global Management, which built up a more-than $24 billion pool in 2017.Ares raised about $8 billion a few years ago for the latest member of its main private equity fund group, Ares Corporate Opportunities Fund, known as ACOF V. Recent deals include this year’s agreement to buy health-survey business Press Ganey Associates Inc. in a consortium with Leonard Green & Partners. ACOF V has invested more than half its capital since inception. An older fund, ACOF IV, has been producing a 12% annualized return after fees since 2012 and was valued at 1.6 times cost as of June 30, according to a regulatory filing.The firm was founded more than two decades ago by former Drexel Burnham Lambert bankers Tony Ressler and John Kissick. It announced a leadership transition in December 2017, naming Michael Arougheti as chief executive officer.Ares has been raising other funds in its private equity business, which includes a focus on China growth capital, infrastructure and a special opportunities group.To contact the reporter on this story: Sridhar Natarajan in New York at email@example.comTo contact the editors responsible for this story: Michael J. Moore at firstname.lastname@example.org, David Scheer, Dan ReichlFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
EPIC Y-Grade will construct two 12” pipelines for Gulf Coast Growth Ventures’ 1.8 metric ton ethane steam cracker in San Patricio County, Texas
We were pleased our High-Quality Strategy outperformed its index and maintained its long term advantages during the first half of 2019 despite challenges for cyclical sectors and most value stocks Continue reading...
INDIANAPOLIS, Aug. 14, 2019 -- Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) (“IEA” or the “Company”), a leading infrastructure construction company with.
Royce Funds founder on 2 high-quality holdings and how he is managing cash in our High-Quality strategy Continue reading...
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Azalea TopCo, Inc. New York, August 09, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Azalea TopCo, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Ares Management Corporation (NYSE:ARES) announced today that Joel Holsinger has joined Ares Management’s Credit Group as Co-Head of Alternative Credit, effective immediately. Mr. Holsinger will serve on the Ares Management Committee and work alongside Keith Ashton as Co-Head of Alternative Credit to expand the firm’s global coverage of the $4 trillion alternative credit sector.
Moody's Investors Service ("Moody's") today upgraded 99 Cents Only Stores LLC's (99 Cents) Corporate Family Rating and Probability of Default rating to Caa1 and Caa1-PD from Caa2 and Ca-PD respectively and appended the PDR with the "/LD" (limited default) designation. Moody's will remove the "/LD" designation from the company's PDR after three days. Moody's also upgraded the company's Senior Unsecured Notes to Caa3 from Ca, and affirmed the senior secured term loan rating at Caa2.
PHOENIX, July 31, 2019 /PRNewswire/ -- Valet Living, the only nationally recognized full-service amenities provider to the multifamily housing industry, today announced that Mark-Taylor, the largest multifamily housing development and management company in Arizona, will adopt its Valet Living Home amenity service platform across 34 of its Mark-Taylor premium rental communities.
Ares Management (ARES) delivered earnings and revenue surprises of -5.41% and 9.90%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Ares Management Corporation (ARES) today reported its financial results for its second quarter ended June 30, 2019. "Our second quarter results highlight the strength and stability of our core financial metrics with AUM, management fees and fee related earnings growing between 17% and 24% on a year over year basis,” said Michael Arougheti, Chief Executive Officer of Ares.
A joint venture between real estate private equity funds managed by affiliates of Ares Management Corporation (ARES) and London-based real estate group Black Mountain Partners announced today the acquisition of the iconic 68 King William Street, London EC4. Located directly above Monument station and in one of the busiest pockets of the Square Mile, it is currently home to a diverse mix of office, food and beverage, and retail tenants. John Ruane, Partner in the Ares Real Estate Group, commented: “This acquisition of 68 King William Street fits Ares’ long-standing investment strategy of implementing hands-on value creation initiatives for well-located assets in major city centres.
EPIC Midstream Holdings, LP (“EPIC” or “the Company”) announced today that Brian Freed has been appointed President of the Company. Mr. Freed will report to Phillip Mezey, Chief Executive Officer of EPIC. Mr. Freed has more than 21 years of experience in the oil and gas industry and has held senior leadership positions with Apache Corporation, Crestwood Equity Partners LP, Inergy Midstream, L.P., Energy Solutions International and Entessa Inc., which Mr. Freed founded and led as its President, CEO and Chairman until it merged with Energy Solutions International in 2010.
Private equity firm Ares Management Corp. has made an investment in Cooper’s Hawk Winery & Restaurants, a Chicago-area based restaurant chain and wine club operator.
Ares Management (ARES) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Cooper’s Hawk Winery & Restaurants, an innovative lifestyle brand centered around food and wine, announced today an investment by a fund managed by the Private Equity Group of Ares Management Corporation (ARES). Terms of the investment were not disclosed. Since its founding in 2005, Cooper’s Hawk has built the world’s largest wine club and a highly differentiated and experiential restaurant concept.
Co-Founder, CEO & President of Ares Management Corp (30-Year Financial, Insider Trades) Michael J Arougheti (insider trades) sold 127,400 shares of ARES on 07/15/2019 at an average price of $28.3 a share. Continue reading...