Ares London - Direct Lending comp and culture

Based on the most helpful WSO content, here are some insights into Ares Direct Lending:

Compensation:

• Associate Level: Specific figures for London aren't provided, but for a similar role in the U.S., an associate at a top AUM direct lending shop like Ares could expect a salary of around $125k with a bonus of $150k. This might vary slightly in London due to regional differences.

Culture:

• General Culture: Ares shares many cultural traits with Apollo, given its origins as Apollo's debt arm. This includes a strong emphasis on process and memo creation, which can sometimes lead to "analysis paralysis."
• Closed Door Culture: There is a noted emphasis on a closed-door culture, which might affect internal communication and transparency.
• Job Security: Analysts at Ares often receive offers to become associates, providing 2-4 years of job security.

Work Hours:

• Typical Hours: Associates can expect long hours, especially when deals are active. For example, hours can extend to midnight from Monday to Tuesday, with slightly lighter hours from Wednesday to Friday, and a few hours on Sunday. During intense periods, weekly hours can reach up to 80.

Performance and Benchmarking:

• Deal Flow and Prestige: Ares is considered top-tier in direct lending, with a strong deal flow and a prestigious reputation.
• Comparison with Other Firms: Ares is often compared to other top firms like Blackstone (BX), Carlyle, Goldman Sachs Merchant Banking Division (GS MBD), Bain, and KKR. While specific performance metrics aren't provided, Ares is generally seen as competitive with these firms in terms of career advancement, compensation, and overall experience.

Additional Insights:

• Investment Committee: Ares has a historically narrow investment committee strike zone, focusing on specific business characteristics, valuation, and industry.
• Recruiting Restrictions: There are restrictions on recruiting to other established LA private equity shops due to close ties between founders, and written permission is required to work with major headhunters.

For more detailed and specific insights, you might want to explore further discussions on WSO or connect with current or former employees of Ares.

Sources: —, Ares Capital Management - Culture, Status, Word on the Street, Ares vs. Golub Direct Lending, Private Credit / Direct Lending Comp, Thoughts on Ares Alternative Credit