LOS ANGELES–(COMMERCIAL THREAD) – Ares Management Corporation (âAresâ or the âCompanyâ) (NYSE: ARES), a leading global alternative investment manager, today announced the launch of the Ares Charitable Foundation (the â Ares Foundation â). The Ares Foundation will seek to accelerate equal economic opportunity through grants to nonprofit organizations whose programming provides career preparation and retraining, encourages entrepreneurship and deepens individuals’ understanding of personal finance. .
The work of the Ares Foundation is made possible by Ares, which plans to donate an amount of up to five percent of its annual net realized performance income from certain Ares funds to the Ares Foundation, further aligning the activities of Company investment with its societal impact. In addition, the Ares Foundation will rely on the generosity of Ares employees who can donate cash, shares and a portion of their earned income from deferred interest in certain funds. Initial employee commitments total nearly $ 30 million.
“Our belief is that creating value for stakeholders goes beyond financial returns – it’s about ensuring that all members of society have equitable access to knowledge, resources and opportunities so that they can can realize their full potential, âsaid Michael Arougheti, CEO and President. of ArÃ¨s. âWith the launch of the Ares Foundation, we further demonstrate our commitment to supporting high-quality nonprofits and initiatives that align with our core values, and we hope to inspire others to do the same. ”
âWe believe that the Ares Foundation can make a measurable and lasting difference in the lives of people who want a better future and provide a way for Ares and our employees to help make it happen,â said Michelle Armstrong, Head of philanthropy and executive director. of the Ares Foundation. “Our grants will seek to address some of society’s most pressing challenges through transformative giving and generate critical data that we can use to thoughtfully assess the effectiveness of our work.”
The Ares Foundation will strategically collaborate with nonprofit organizations around the world that meet its criteria of programming, organizational capacity, organizational culture and engagement. Much of the grant making will be employee-driven and provide skill-based volunteer opportunities through Ares in Motion (AIM), the company’s employee philanthropic engagement program. Connecting Ares professionals to the initiatives of the Ares Foundation will strengthen their knowledge of philanthropy and nonprofit operations so that they extend their civic engagement to the communities where they live and work. Additionally, the Ares Foundation plans to partner with Ares portfolio companies and industry colleagues on initiatives to inspire their donation activities and involvement.
One of the investments of the Ares Foundation is âAltFinance: Investing in Black Futures,MT, An industry-first initiative recently announced in collaboration with Apollo Global Management and Oaktree Capital Management, designed to help diversify the alternative investment industry. In line with the Ares Foundation Grants for Career Preparation and Retraining, AltFinance aims to provide students at historically black colleges and universities with clear pathways to careers in the alternative investment industry. The initiative has three main components: a supervised scholarship program, a tailor-made virtual institute and a scholarship program.
In addition to its environmental, social and governance and diversity, equity and inclusion efforts, philanthropy is one of Ares’ three pillars that reflects the firm’s commitment to catalyzing shared prosperity. Collectively, the three pillars exemplify Ares’ core values ââand help guide its business operations and investing activities through what is called Impact in Ares.
For more information on the Ares Foundation, click here.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager providing clients with complementary primary and secondary investment solutions in the asset classes of credit, private equity, real estate. and infrastructure. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By working with our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2021, including the acquisition of Landmark Partners, which closed on June 2, 2021, Ares Management’s global platform had approximately $ 227 billion in assets under management with more than 1,600 employees operating in America. North, Europe, Asia-Pacific and the Middle East. Is. For more information, please visit www.aresmgmt.com. Follow ArÃ¨s on Twitter @Ares_Management.
About the Ares Charitable Foundation
The Ares Charitable Foundation (the âAres Foundationâ) is a qualified 501 (c) (3) organization sponsored by Ares Management Corporation, one of the world’s leading managers of alternative investments. Established in 2020, the Ares Foundation hopes to achieve lasting and measurable impact through strategic investments globally in non-profit programs that provide professional preparation and retraining, encourage entrepreneurship and deepen understanding of finance. personal so that people can pursue a better future.
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