Ares CEO Arougheti on M&A, Competition, Real Estate

The transcript discusses Aries Management's record-breaking fundraising year and the shift from traditional institutional markets to diverse capital sources. It explores investment opportunities, deployment strategies, and the impact of interest rates and tariffs on the market. The conversation also covers industry consolidation, competitive dynamics, and real estate opportunities, emphasizing the importance of rate stability and market adaptation.

What percentage of Aries Management's capital raising in 2024 came from traditional institutional markets?

• 50%

• 70%

• 10%

• 30%

What is expected to pick up in 2025 according to Aries Management?

• Fundraising

• Interest rates

• Deployment

• Tariffs

What is the main concern for the M&A market in 2025?

• High tariffs

• Increased competition

• Low interest rates

• Rate stability

How does the HPS and BlackRock deal affect the competitive landscape?

• It reduces competition

• It has no impact

• It significantly changes the landscape

• It validates the advantages of scale

What is Aries Management's strategy for growth in the private credit market?

• Focusing solely on the US market

• Expanding into new markets and globalizing

• Reducing investments in real estate

• Avoiding mergers and acquisitions

What is a key factor driving value in the real estate market?

• Interest rates

• Office space demand

• Retail expansion

• AI technology

Which sectors have been Aries Management's largest exposures in real estate?

• Self storage and retail

• Data centers and student housing

• Multifamily and industrial

• Office and retail