Ares Management Corporation (ARES) Q4 2022 Earnings Call Transcript

Ares Management Corporation (NYSE:ARES) Q4 2022 Earnings Conference Call February 9, 2023 12:00 PM ET

Company Participants

Carl Drake - Head, Public Markets, Investor Relations

Michael Arougheti - Chief Executive Officer

Jarrod Phillips - Chief Financial Officer

Kipp deVeer - Director, Partner, Head of Credit Group

Conference Call Participants

Craig Siegenthaler - Bank of America

Alex Blostein - Goldman Sachs

Benjamin Budish - Barclays

Michael Cyprys - Morgan Stanley

Gerry O'Hara - Jefferies

Patrick Davitt - Autonomous Research

Adam Beatty - UBS

Operator

Hello, and welcome to Ares Management Corporation's Fourth Quarter and Year-End Earnings Conference Call. At this time, all participants are in a listen-only mode. As a reminder, this conference call is being recorded on Thursday February 9, 2023.

I will now turn the call over to Carl Drake, Head of Public Markets Investor Relations at Ares Management. Please go ahead.

Carl Drake

Good afternoon, and thank you for joining us today for our fourth quarter and year-end 2022 conference call. I'm joined today by Michael Arougheti, our Chief Executive Officer; and Jarrod Phillips, our Chief Financial Officer. We also have a number of executives with us today, who will be available during Q&A.

Before we begin, I want to remind you that comments made during this call, contain forward-looking statements and are subject to risks and uncertainties, including those identified in Risk Factors in our SEC filings. Our actual results could differ materially, and we undertake no obligation to update any such forward-looking statements.

Please also note that past performance is not a guarantee of future results and nothing on this call constitutes an offer to sell or a solicitation of an offer to purchase an interest in any Ares Fund.

During this call, we will refer to certain non-GAAP financial measures, which should not be considered in isolation from, or a substitute for measures prepared in accordance with generally accepted accounting principles.

Please refer to our fourth quarter and full year earnings presentation available on the Investor Resources section of our website for reconciliations of the measures to the most directly comparable GAAP measures.

Note that, we will plan to file our Form 10-K later this month. This morning, we announced that we declared our first quarter common dividend of $0.77 per share of its Class A, and nonvoting common stock, representing an increase of 26% over our dividend for the same quarter a year ago. The dividend will be paid on March 31, 2023 to holders of record on March 17. Jarrod will provide additional color on the drivers of the significant increase in our quarterly dividend later in the call.