Every material Form 8-K Ares Management filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Ares Management reported third quarter 2024 results on November 1, 2024, with GAAP net income attributable to the company of $118.5 million, up from $61.8 million a year earlier. Total revenues were $1.13 billion versus $671 million, and fee related earnings rose 24% to $339.3 million, which signals stronger results for shareholders. The company also declared a quarterly common dividend of $0.93 per share and said it expects 2024 to be a record fundraising year.
GAAP net income attributable to Ares was $118.5 million, or $0.55 per share, versus $61.8 million, or $0.30 per share, in the third quarter of 2023
Fee related earnings were $339.3 million, up from $274.2 million; after-tax realized income was $0.95 per Class A share, up from $0.83
Quarterly common dividend of $0.93 per share, payable December 31, 2024 to holders of record on December 17, 2024
Management expects 2024 gross fundraising commitments in the mid-$80 billion range after $64 billion raised year-to-date
Ares Management Corporation issued $750 million of 5.600% senior notes due October 11, 2054, in an underwritten public offering. The notes are unsecured, fully guaranteed by several Ares subsidiaries, and carry covenants limiting secured debt on certain equity interests and certain mergers or asset sales.
Principal amount: $750 million; issued October 11, 2024 under an October 9, 2024 underwriting agreement with Morgan Stanley and Citigroup
Interest at 5.600% per year, paid semi-annually on April 11 and October 11, starting April 11, 2025
Redeemable before April 11, 2054 at the greater of par or a Treasury-based make-whole price (Treasury rate plus 20 basis points)
On October 10, 2024, Ares Management issued 30,000,000 shares of new Series B mandatory convertible preferred stock, a $1.5 billion aggregate liquidation preference, through a previously announced underwritten public offering. The underwriters also exercised in full their option for 3,000,000 additional shares, and the company says it will use the net proceeds mainly to pay part of the cash consideration for its GLP Capital Partners international business acquisition, with the rest for general corporate purposes. The preferred ranks senior to common stock on dividends and liquidation, and carries a 6.75% cumulative dividend, so it adds a senior claim ahead of common shareholders.
Issued 30,000,000 shares, or $1.5 billion liquidation preference, on October 10, 2024; underwriters' 3,000,000-share over-allotment option was fully exercised
Dividend rate 6.75% per year, payable quarterly, with the company able to pay in cash, common stock, or a mix
Mandatory conversion around October 1, 2027 into between 0.2717 and 0.3260 common shares per preferred share
Proceeds intended for part of the GCP Acquisition cash consideration and general corporate purposes
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Ares Management filing is on SEC EDGAR ↗. 8-K briefs of other companies →