Signed an offer with Ares in PE/CREDIT/IR/RE/INFRA for the summer 2024, was wondering if anyone had ideas on what return offer rates across all groups look like. Would also love to know how sponsorship for internationals works at Ares if anyone has insight
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Gotta be a bit more precise than that but generally Ares US has very good return rates
Could being international impact return offer chances or do they not take that into account
AFAIK, they don’t. Have several international friends that secured returns there for US
Speaking for PE: they have historically hired plenty of international students (mostly from Canada though where the TN visa provides a bit more of a buffer vs. short fuse on standard / STEM OPT). There has been a lot of voluntary churn on the PE side which I heard the leadership is welcoming because funds keep getting smaller and they can't make the economics work for a huge team... not sure whether any of this will affect return offer rates but I would say it's pretty hard not to get a return offer if you work hard, show initiative, avoid social blunders / act normal, and show some progression throughout your internship. I don't think the idea here has ever been to overhire interns with the expectations that only the top x make it so the return offer is yours to lose if you will.
Heard this year was pretty low due to market conditions, but in normal years most interns get returns, if the job market normalizes by next summer you should be fine.
This is so broad, you woudl have to cut it down to like RE vs PE to get an accurate answer. I talked to a guy on the RE equity team there and he said both summer analysts this past summer did not get offers, at least in LA. Tough market.
I work on Ares RE team. We hired over half of our interns this years (I think like 5/8 or 6/9) and historically we’ve hired over 75% of our interns.
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Is first year associate hiring dry right now for RE? Interested in Ares RE debt platform
No. Return offers for the real estate equity side were 4ish/8. DL return offers in LA were 3ish/8 (not sure but around there). Many people got clipped. Do well and try your best but remember no firm gives a fuck about you.
Have heard ACOF return rates were ~50%
Historically the idea was never to overhire interns and pick the best to stay on longer-term. The intern pool was always very high quality and as long as you applied yourself, showed good progression throughout the summer, and were "normal" / avoided social blunders you were good to go. Maybe this has changed somewhat as the team is shrinking overall but that should also be reflected in the initial intern intake.
This thread is referring to internship return offer rates. Not fund returns.
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