Ares Management Corporation (ARES) Q3 2022 Earnings Call Transcript

Ares Management Corporation (NYSE:ARES) Q3 2022 Earnings Conference Call October 27, 2022 10:00 AM ET

Company Participants

Carl Drake - Head, Public Markets, IR

Michael Arougheti - CEO

Jarrod Phillips - CFO

Scott Graves - Partner, Co-Head, Private Equity Group, Portfolio Manager and Head, Special Opportunities

Conference Call Participants

Craig Siegenthaler - Bank of America

Alex Blostein - Goldman Sachs

Patrick Davitt - Autonomous Research

Benjamin Budish - Barclays

Brian McKenna - JMP Securities

Gerald O'Hara - Jefferies

Finian O'Shea - Wells Fargo Securities

Adam Beatty - UBS

Rufus Hone - BMO Capital Markets

Michael Cyprys - Morgan Stanley

Operator

Welcome to Ares Management Corporation's Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. As a reminder, this conference call is being recorded on October 27th, 2022.

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

Carl Drake

Good morning, and thank you for joining us today for our third quarter conference call. I'm joined today by Michael Arougheti, our Chief Executive Officer; and Jarrod Phillips, our Chief Financial Officer.

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

Please refer to our third-quarter earnings presentation available on the Investor Resources section of our website for reconciliations of the measures to the most directly-comparable GAAP measures. Please note that nothing on this call constitutes an offer to sell or a solicitation of an offer to purchase an interest in any Ares Fund. This morning, we announced that we declared our fourth-quarter common dividend of $0.61 per share of our Class-A and non-voting common stock, representing an increase of 30% over our dividend for the same quarter a year-ago. The dividend will be paid on December 30th, 2022, to holders of record on December 16th.

Now, I'll turn the call over to Michael Arougheti, who will start with some quarterly financial and business highlights.