Ares Management said the board appointed R. Kipp deVeer and Blair Jacobson as Co-Presidents effective February 5, 2025. Michael J Arougheti stepped down as President, but he remains Chief Executive Officer and a member of the board as a Co-Founder.

1. 01

   Ares Management said the board appointed R. Kipp deVeer and Blair Jacobson as Co-Presidents effective February 5, 2025. Michael J Arougheti stepped down as President, but he remains Chief Executive Officer and a member of the board as a Co-Founder.

2. 02

   The company said deVeer and Jacobson are moving away from day-to-day management in the Credit Group to support Arougheti on firm-wide strategic and operational initiatives and investor and counterparty relationships. The two positions are newly created, and both will report to Arougheti.

3. 03

   The company said Mitchell Goldstein and Michael Smith, who have co-led the Credit Group since 2017, will continue as Co-Heads. Ares Capital Corporation announced that it has appointed Kort Schnabel as Chief Executive Officer effective April 30, 2025.

4. 04

   Ares Management disclosed that deVeer joined the company in 2004 and Jacobson joined in 2012. It said there are no arrangements or understandings between either of them and any other person relating to their appointments, and that it has entered into a customary indemnification agreement with Jacobson.

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