© Reuters.
NEW YORK – Ares Management Corporation (NYSE: NYSE:), a global alternative investment manager, announced today a strategic reorganization within its business structure.
The company’s Special Opportunities strategy, which was previously part of its Private Equity Group, will now be integrated into the Credit Group and rebranded as Opportunistic Credit. This move is aimed at fostering enhanced collaboration across Ares’ credit platform, which is expected to benefit limited partners, sponsor partners, and portfolio companies.
The Opportunistic Credit team will be co-headed by Aaron Rosen and Craig Snyder, who have been pivotal in the growth of the Special Opportunities strategy since its inception. They will be supported by a dedicated team of around 30 investment professionals based in the United States and the United Kingdom.
The leadership believes that this restructuring will enhance the firm’s investing capabilities and create additional value for its investors and portfolio companies.
Kipp deVeer, Head of the Ares Credit Group, stated that the alignment with the global Credit Group is intended to maximize origination capabilities, deepen sponsor relationships, and optimize underwriting and portfolio management experience.
The Ares Credit Group, adjusted for this organizational change, managed approximately $300 billion in assets with around 490 investment professionals as of December 31, 2023. The integration of the Opportunistic Credit strategy into the Credit Group’s reporting will take effect on March 31, 2024.
The restructuring comes as the company adapts to evolving industry dynamics, aiming to address the growing demand for creative and flexible debt and structured equity solutions, particularly within the middle market segment.
Ares Management Corporation is a leading investment firm with approximately $419 billion of assets under management as of the end of 2023, employing around 2,850 people across various global markets. The information for this article is based on a press release statement.
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