Ares Management turns private credit into Wall Street’s sexiest business 


Megadeals and private equity titans may dominate the headlines. Still, Los Angeles’ Ares Management has quietly amassed US$352 billion in assets by offering steady returns regardless of what happens in the stock market.

As an enterprising 13-year-old New York Yankees fan in 1986, Michael Arougheti ran a baseball card trading business, setting up tables at collectibles shows on weekends in suburban New York City.

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