Third Quarter 2014 Highlights Total Assets Under Management increased 14.0% to 79.6 billion vs. Q3-13 Assets Under Total Fee Earning AUM increased 6.4% to 59.9 billion compared to Q3-13 Management Raised 3.8 billion in gross new…
Gross New Capital Raised Third Quarter(1) in millions Comments Tradable Credit Group Long Only Ares XXXI CLO, Ltd. 1,261 Largest CLO in Ares history Other Funds 264 Gross inflows to other managed accounts Alternative Ares Special…
Assets Under Management Q3-14 AUM of 79.6 billion is up 14.0% year over year o Q3-14 net new capital of 3.6 billion led by funds in the Tradable Credit Group and Real Estate Group equity funds o LTM growth included over 19.0 billion in…
Incentive Generating AUM and Incentive Eligible AUM Q3-14 Incentive Generating AUM of 21.5 billion grew 6.8% over the last three months o Direct Lending Groups Incentive Generating AUM of 10.4 billion increased 9.2% vs. Q2-14 primarily…
Available Capital and AUM Not Yet Earning Fees Summary Available Capital declined from 19.0 billion to 18.5 billion for the period ended September 30, 2014 o 3.6 billion of net new capital raised was offset by 3.7 billion of capital…
Financial Summary in thousands unless otherwise noted, except per unit data 9 mos. YTD 9 mos. YTD Q3-14 Q3-13 % Change As Adjusted(1) % Change As Adjusted(1) 2014 2013 Management Fees (2) 153,676 154,619 (0.6%) 9.2% 436,940 376,469…
Tradable Credit Group(1) Fee revenues declined 21.8% vs. Q3-13 primarily driven by the recognition in thousands of deferred management fees of 13.9 million in Q3-13 compared to no Q3-13 Q3-14 Q3-13 Adj. Q3-13(2) Adjustment such…
Direct Lending Group(1) Management fee revenues rose 5.1% compared to Q3-13 primarily as a in thousands result of 4.0 billion in net capital deployment over the last twelve Q3-14 Q3-13 months Management Fee 68,953 65,596 ENI…
Private Equity Group(1) Management fee revenues declined 7.1% compared to Q3-13 as in thousands FEAUM declined primarily due to a one-time catch up fee of 1.0 Q3-14 Q3-13 million from the final closing in ACOF Asia that was recorded…
Real Estate Group(1) Management fee revenues increased 7.7 million compared to Q3-13, in thousands primarily driven by catch up fees from new funds (EU IV and US VIII) Q3-14 Q3-13 ENI increased 4.2 million compared to Q3-13 driven by…
Economic Net Income per Unit Data Q3-14 Pro Forma Q2-14(2) Pro Forma Q1-14(2) Economic Net Income Per Unit Economic Net Income Before Taxes 72,055 75,051 77,405 (-) Entity Level Foreign, State and Local Taxes (626) (348) (206)…
Distributable Earnings per Unit Data Q3-14 Pro Forma Q2-14 Pro Forma Q1-14 Distributable Earnings per Ares Operating Group Unit Outstanding(1) Distributable Earnings 65,324 48,553 54,547 (-) Dividend Equivalent Related to RUs(1)…
Balance Sheet Highlights Strong liquidity position with 75.1 million in cash & cash equivalents and 880.0 million in available capacity under our 1.0 billion credit facility o Raised 250.0 million in aggregate principal amount of 4%…
Corporate Data Board of Directors Management Committee Corporate Officers Research Coverage Corporate Counsel MICHAEL AROUGHETI MICHAEL AROUGHETI MICHAEL AROUGHETI AUTONOMOUS PROSKAUER ROSE LLP Co-Founder, President and Senior Partner…
Appendix
Balance Sheet Investments at Fair Value by Strategy in thousands September 30, 2014 December 31, 2013 Private Equity Group ACOF I 901 1,009 ACOF II 11,648 19,982 ACOF III 96,794 90,909 ACOF IV 17,190 8,326 ACOF Asia 126,690 96,630…
Significant Fund Performance Metrics as of September 30, 2014 in millions Returns Year of Assets Under Since Fund Past 5 years Past 3 years Segment Investment Strategy Inception Management(1) Inception ECO I 2006 2,595 2.0 14.0…
Significant Fund Performance Metrics Endnotes (1) Assets under management equals the sum of the NAV for such fund, the drawn and undrawn debt (at the fund-level including amounts subject to restrictions) and uncalled committed capital.…
Unit Information Q3-14 Q2-14 Adjusted Common Adjusted Common GAAP Units Pro Forma Units Units Units Ares Management, L.P. Common 80,667,664 80,667,664 80,667,664 80,667,664 Units Outstanding Ares Operating Group Units 130,921,766 -…
Additional Information as of September 30, 2014 Targeted Net Returns* Capital Base by Duration Investor Base as % of AUM Tradable Credit Group: 72 Active Funds Permanent Capital: 16.5% Public Entity & Related: 30% Bank Loans:…
Stand Alone Segments Annual Financial Data in millions Year ended December 31 2013 2012 2011 Direct Lending Group 238 190 155 Tradable Credit Group 146 145 99 Private Equity Group 93 69 68 Real Estate Group 40 10 3 Management Fees(1)…
GAAP to Non-GAAP Reconciliation Stand Alone Reporting Basis Three months ended September Nine months ended September in millions Year ended December 31, 30, 30, 2013 2012 2011 2014 2013 2014 2013 Economic net income and fee related…
GAAP to Non-GAAP Reconciliation Stand Alone Reporting Basis (continued) Three months ended September Nine months ended September in millions Year ended December 30, 30, 30, 2013 2012 2011 2014 2013 2014 2013 Performance related…
Glossary ARCC Part I Fees ARCC Part I Fees refers to fees based on ARCCs net investment income (before ARCC Part I Fees and fees based on ARCCs net capital gains, which are paid annually (ARCC Part II Fees)), which are paid quarterly.…
Glossary (continued) Fee Related Earnings Fee related earnings (or FRE) is a component of ENI and is used to assess the ability of our business to cover direct base compensation and operating expenses from management fees. FRE differs…
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