Ares Management Corp. executives are ramping up stock sales as the private credit giant’s shares boom amid rising interest rates and a pullback by traditional lenders.
Co-founders Tony Ressler, Bennett Rosenthal, David Kaplan and Michael Arougheti are among those who have sold about 2.7 million shares of Ares worth almost $250 million this year, according to data compiled by Bloomberg from regulatory filings. That’s roughly the same total number of shares the firm’s executives offloaded in all of 2022.
Arougheti, 50, who’s also chief executive officer, made up almost half of the open market sales this year, with the group’s most recent transactions filed last month, the filings show.
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