October 23 2012
Operation HOPE Confirms Michael Arougheti, President of Ares Capital for the HOPE Global Financial Dignity Summit, 2012
ATLANTA – October 23, 2012 – Financial dignity nonprofit Operation HOPE announced today that national board member and President of Ares Capital Management Mr. Michael Arougheti, is confirmed to speak at the CEO Plenary Session during the HOPE Global Financial Dignity Summit, in Atlanta, Georgia on November 14th-15th, 2012.
The HOPE Global Financial Dignity Summit (HGFDS) is expecting an audience of more than 1,000 delegates from 50 countries. The Global Financial Dignity Summit Plenary sessions and Financial Inclusion Working Group sessions will touch on powerful themes that speak to the future of “making free enterprise work for all.” Mr. Arougheti’s participation will help forward this dialogue and the summit’s theme Community, Character and (Responsible) Capitalism.
The HGFDS celebrates the “silver rights” empowerment leader’s 20th Anniversary of providing financial literacy and empowerment to underserved communities throughout America and around the world. The two-day summit activities will draw the most dynamic and influential financial industry professionals, government decision-makers and faith leaders worldwide to address viable long-term, systemic and sustainable solutions to our economic and life problems.
Michael J. Arougheti, has served as President of Ares Capital Corporation since May 2004 and as a director of the Company since 2009. Mr. Arougheti joined Ares Management in May 2004 and is a Senior Partner in the Ares Private Debt Group. He is a member of the Executive Committee of Ares Partners Management Company LLC. Mr. Arougheti is a member of the Investment Committees of Ares Capital Management, the Ares Private Debt Group, ACE (Ares' European private debt business) and Ares Commercial Real Estate Management LLC, the manager of Ares Commercial Real Estate Corporation. In addition, Mr. Arougheti is the Chairman of Ares Commercial Real Estate Corporation's Board of Directors.
The Ares Capital Corporation (“Ares Capital” or "ARCC") is a specialty finance company that provides one-stop solutions to meet the distinct and underserved financing needs of private middle-market companies across diverse industries. In addition to primarily providing debt financing to middle-market companies, Ares Capital also provides, on a lesser scale, debt financing for power generation projects and financing to emerging growth companies typically backed by venture capital firms.
Ares Capital is managed by Ares Capital Management LLC (“Ares Capital Management”), a wholly owned subsidiary of Ares Management LLC (“Ares”), a global alternative asset investment management firm and SEC-registered investment adviser with offices located across the U.S., Europe and Asia. As of June 30, 2012, Ares Management LLC had approximately $54 billion(1) of committed capital under management.
From 2001 to 2004, Mr. Arougheti was employed by Royal Bank of Canada, where he was a Managing Partner of the Principal Finance Group of RBC Capital Partners and a member of the firm's Mezzanine Investment Committee.
At RBC Capital Partners, Mr. Arougheti oversaw an investment team that originated, managed and monitored a diverse portfolio of middle market leveraged loans, senior and junior subordinated debt, preferred equity and common stock and warrants on behalf of RBC and other third-party institutional investors. Mr. Arougheti joined Royal Bank of Canada in October 2001 from Indosuez Capital, where he was a Principal, responsible for originating, structuring and executing leveraged transactions across a broad range of products and asset classes. Mr. Arougheti also sat on the firm's Investment Committee.
Prior to joining Indosuez in 1994, Mr. Arougheti worked at Kidder, Peabody & Co., where he was a member of the firm's Mergers and Acquisitions Group. In addition to serving as Chairman of the board of directors of Ares Commercial Real Estate Corporation, Mr. Arougheti also serves on the boards of directors of Investor Group Services, Riverspace Arts and Operation HOPE Mr. Arougheti received a BA in Ethics, Politics and Economics, cum laude, from Yale University.
Since 1992, HOPE has helped put financial literacy on the national agenda and been at the forefront of moving financial literacy and economic empowerment forward. It has raised more than $1.4 Billion of investment capital for underserved communities and providing services to over 2 million individuals in the last two decades.