Ares CEO Michael Arougheti Says C-Corp Switch ‘Great’ for Asset Managers
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Michael Arougheti, chief executive officer of Ares Management Corp., said his firm’s conversion to a C-corp last year from a public partnership has boosted liquidity in the stock.
Arougheti also said Blackstone Group LP’s announcement in April that it will become a C-corp will lure more investors to alternative asset managers. As a corporation, the firms can be included in indexes and their stock is available to a much wider pool of investors.