Goldman Sachs Exchanges Private credit investing with Ares Management’s Mike Arougheti
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Jul 23, 2024 Mike Arougheti, CEO of Ares Management, discusses private credit investing, leadership evolution, and Ares' growth. Highlights include career journey, importance of client relationships in private credit, economic outlook, social impact initiatives, and managing Baltimore Orioles.
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Grueling First Job
- Mike Arougheti's first job at Kidder Peabody involved 100+ hour work weeks.
- He lived across the street in a small apartment, which became a resting spot for colleagues.
Joining Ares
- Mike Arougheti joined Ares in 2004 after Bennett Rosenthal, a former Drexel colleague, called him.
- Arougheti and Rosenthal had previously interviewed each other at Indosuez Capital, and decided to move to LA.
Early Investment Strategy
- Ares Management's initial focus on versatile investment vehicles allowed them to invest in various asset classes.
- This early experience positioned them well for the evolving private credit market.