September 04 2013
Ares Capital Management CEO Michael Arougheti Joins the HOPE Global Financial Dignity Summit as a Principal Speaker
Atlanta – September 5, 2013 – "Silver rights" nonprofit Operation HOPE today announced that Ares Capital Chief Executive Officer Michael Arougheti joins as a principal speaker for the HOPE Global Financial Dignity Summit in Atlanta on November 13–14, 2013.
The two-day summit, “Global Economic Recovery: How The Poor Can Help Save Capitalism,” is expected to draw 1,000 of the most dynamic and influential financial industry professionals, government decision-makers and faith leaders from more than 50 countries around the world to frame the issue of financial inclusion, small business, entrepreneurship, jobs, and financial dignity as essential core ingredients to mid and long-term economic recovery and stability.
Promoted in 2013 to chief executive officer by its board of directors, Mr. Arougheti had served as President of Ares Capital since May 2004 and as a director of Ares Capital since 2009. Mr. Arougheti joined Ares Management in May 2004 and is a founding member and Senior Partner of Ares Management, where he serves as a member of the Executive Committee of Ares Partners Management Company LLC, which indirectly controls Ares Management. Mr. Arougheti also serves as a member of the Investment Committee of Ares Capital Management LLC, the investment adviser of Ares Capital and a wholly-owned subsidiary of Ares Management, as a member of the Ares Private Debt Investment Committee and the Investment Committee of Ares European Private Debt, Ares Management’s European Private Debt business, and may from time to time serve as an officer, director or principal of entities affiliated with Ares Management or of investment funds managed by Ares Management and its affiliates. In addition, Mr. Arougheti is the Chairman of Ares Commercial Real Estate’s Board of Directors, and serves as a Director of Ares Commercial Real Estate and a member of the manager’s Investment Committee.
Mr. Arougheti received a B.A. in Ethics, Politics and Economics, cum laude, from Yale University. Mr. Arougheti’s depth of experience in investment management, leveraged finance and financial services gives the board of directors valuable industry-specific knowledge and expertise on these and other matters.
When Superstorm Sandy struck last year, HOPE and Ares worked together to create a coalition of private and public sector organizations to provide long-term financial recovery information, guidance and empowerment services to small businesses, families and individuals devastated by Hurricane Sandy. To date, the project has provided Disaster Financial Recovery personal counseling for more than 11,000 individuals and reached out to an additional 38,266 survivors.
Ares is headquartered in Los Angeles with more than 600 professionals located across the United States, Europe and Asia and invests across the capital structure – from senior debt to common equity. Ares’ investment activities are managed by dedicated teams in its Capital Markets, Private Debt, Private Equity and Real Estate investment platforms. Ares Management was built upon the fundamental principle that each platform benefits from being part of the greater whole. This multi-asset class synergy provides its professionals with insights into industry trends, access to significant deal flow and the ability to assess relative value.
Since 1992, Operation HOPE has promoted financial dignity through financial literacy and education tools to underserved communities. Through its four core portfolios, the organization has provided youth and adult financial literacy, economic preparedness, digital empowerment, promoted home ownership, and assisted with foreclosure prevention to more than 2 million individuals, families, and small business owners. Driven by a “silver rights” mission to promote financial inclusion for the struggling middle class through financial literacy, dignity and capital enterprise.