Ares (ACOF)

Based on the most helpful WSO content, here are some insights on Ares Management and its various teams:

Strategy

• Ares Capital Markets: Similar to Farallon’s credit/distressed business.
• Ares Private Debt: Known for a large number of people involved.
• Ares Alternative Credit: Broad mandate across the capital structure, including contractual/asset-based financing, specialty finance, lender finance, and leasing.

Culture

• General Culture: The people are described as extremely bright, nice, and respectful. There has been a push to retain junior talent.
• Historical Culture: Previously, the culture was considered quite toxic.
• Work Environment: Banking-type hours with dinner often eaten in the office and always being on call.

Hours

• General Hours: Similar to banking hours, indicating long workdays and high demands.

Deal Team Structure

• Investment Committees: Certain senior partners sit on the investment committees for each of the three groups (Capital Markets, Private Debt, and Private Equity).

Returns

• Co-Investment Opportunities: Ares is very active in LP co-investment opportunities, which is a differentiator for their platform.

Comparisons

• Oaktree: Oaktree’s corporate debt business aligns with Ares Capital Markets, while their distressed business is a hybrid between Ares Capital Markets and Ares Private Equity with significantly more capital to deploy towards distressed opportunities.

These insights should give you a comprehensive view of the Ares Corporate Opportunities Fund team and related aspects.

Sources: Ares Capital Management - Culture, Status, Word on the Street, —, Ares Management Pay, Exit, Culture?, Thoughts on Ares Alternative Credit, What’s the mega fund cutoff?