Ares Management Corporation (ARES) CEO Michael Arougheti on Q2 2022 Results - Earnings Call Transcript

Ares Management Corporation (NYSE:ARES) Q2 2022 Earnings Conference Call July 28, 2022 12:00 PM ET

Company Participants

Carl Drake - Head, Public Markets, Investor Relations

Michael Arougheti - Chief Executive Officer

Jarrod Phillips - Chief Financial Officer

Bill Benjamin - Global Head, Real Estate

Conference Call Participants

Craig Siegenthaler - Bank of America

Alex Blostein - Goldman Sachs

Gerry O'Hara - Jefferies

Patrick Davitt - Autonomous Research

Finian O'Shea - Wells Fargo

Robert Lee - KBW

Adam Beatty - UBS

Michael Cyprys - Morgan Stanley

Kenneth Lee - RBC

Chris Kotowski - Oppenheimer

Operator

Hello, and welcome to Ares Management Corporation's Second 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 Thursday, 28th of July, 2022.

I will now turn the call over to Carl Drake, Head of Public Market Investor Relations to begin. Carl, over to you.

Carl Drake

Good afternoon and thank you for joining us today for our second quarter 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 our 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 should not be considered in isolation from or as a substitute for measures prepared in accordance with generally accepted accounting principles. Please refer to our second 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 third 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 September 30 to holders of record on September 16.