NEW YORK–(BUSINESS WIRE)–Volery Capital Partners (“Volery”) and Ares Management Corporation
(“Ares”, NYSE: ARES) today announced that they have reached an agreement
under which Ares will become a minority shareholder of Volery and
provide capital to support the firm’s operating and investment
activities.
Volery is a private equity firm that provides growth equity and
strategic support to leading investment managers that generate positive
environmental and social impact. The firm also selectively pursues
direct, co-investment and other opportunistic transactions alongside its
core mandate.
“We are thrilled to be in business with Ares, a market leader that
shares our strategic vision and will expand the breadth of our firm’s
capabilities,” said Emanuel Citron, a Managing Partner of Volery. “The
partnership will be instrumental in helping Volery work with
top-performing management teams to accelerate their efforts to achieve
new levels of economic performance, growth and measurable impact.”
Volery is led by Managing Partners Emanuel Citron and Daniel C. Stein,
both seasoned private equity investors with experience investing in and
growing asset managers. Mr. Citron has extensive experience with private
equity investments in asset managers. He previously held a variety of
positions at Stone Point Capital. Prior to Stone Point, he held
positions with Bain Consulting and Beacon Group. Mr. Stein is a
seasoned, growth-oriented executive with over 25 years of operating and
investment experience. Formerly, Mr. Stein served as CEO of Dimensional
Associates, Inc. and as SVP of Growth Investments at MacAndrews and
Forbes.
“Responsible or ESG investing is an increasingly important focus area
for Ares and our investors, and we are excited to support Volery’s
mission of investing in firms that positively influence our
communities,” said Michael Arougheti, Chief Executive Officer and
President of Ares. “We are confident in the Volery team, their
investment approach and the firm’s strategic value to Ares.”
Capital allocations to both sustainable and impact investments are
growing globally, and Volery and Ares believe that there is significant
opportunity to establish the leading growth equity platform supporting
impact- and sustainability-focused asset managers. Volery’s investment
strategy will create exposure to this secular growth, and demonstrate
that strong financial returns and positive impact can be mutually
reinforcing. Volery expects to add significant value to its portfolio
companies by helping them to raise capital, implement operational best
practices, and optimize their impact measurement and management.
Volery’s first portfolio company is a sustainable agriculture asset
manager with approximately $1.3 billion of assets under management.
About Volery Capital Partners
Volery Capital strategically partners with, provides growth equity
capital to, and co-invests alongside best-in-class asset managers across
asset classes to create measurable impact alongside market-rate
financial returns. Volery drives post-investment value creation through
assistance with capital formation, firm building, and impact measurement
and management. Volery invests in well-positioned sector specialists
with attractive business models while capitalizing on the secular growth
of capital allocations to impact strategies. For more information, visit www.volerycapital.com.
About Ares Management Corporation
Ares Management Corporation is a publicly traded, leading global
alternative asset manager with approximately $137 billion of assets
under management as of March 31, 2019 and 18 offices in the United
States, Europe, Asia and Australia. Since its inception in 1997, Ares
has adhered to a disciplined investment philosophy that focuses on
delivering strong risk-adjusted investment returns throughout market
cycles. Ares believes each of its three distinct but complementary
investment groups in Credit, Private Equity and Real Estate is a market
leader based on assets under management and investment performance. Ares
was built upon the fundamental principle that each group benefits from
being part of the greater whole. For more information, visit www.aresmgmt.com.
For more information, please contact Kenzie Reinoso at Volery Capital ([email protected])
or Carl Drake (800.340.6597) or Bill Mendel (212.397.1030) at Ares
Management.
Contacts
Kenzie Reinoso at Volery Capital ([email protected])
or
Carl Drake (800.340.6597)
or Bill Mendel (212.397.1030) at Ares
Management.
