Latest news with #Ares
Yahoo
2 days ago
- Business
- Yahoo
Meet the ‘masters of the universe' heading up the private credit explosion
Venture capitalists love the spotlight. They're on X, they're in the White House, and they're constantly chasing press coverage of Series A deals into B2B SaaS companies that might become the next Salesforce, but could just as likely fold in a few years. Today's VCs hold an inordinate amount of cultural capital, and for good reason: They fund many of the companies that undergird not only our economy, but our social fabric, and they are often instrumental in shaping tomorrow's trends. But still, they represent a small fraction of the broader investment landscape, which is why I'm always astounded by the sheer scale of the private equity industry. I spent the past few months reporting on Ares Management, an alternative asset manager that spun out of Apollo in the late 1990s. Originally, I was interested in the firm because of its role in the booming field of private credit, which has become such a buzzword that it seems like high finance's equivalent of AI (and they're related, with much of new private credit capital going to fund data centers). Ares' bread and butter business is lending to other alternative assets firms like KKR and Apollo, raising money to help fund their buyouts of middle market companies that most venture firms would never be interested in (though that's changing), and occasionally taking small equity stakes themselves. The strategy has paid off, especially with the rise of private equity more broadly after the 2008 financial crisis, with Ares now aiming to grow its assets under management to $750 billion by 2028. Compare that to Insight Partners, one of the larger venture players dabbling in private equity, which has $90 billion. As with tokenization, private credit is taking on an increasingly greater role in our economy as companies take longer to go public or decide never to go public at all. Rather than turning to public markets for funding, they must look to other means, with firms like Ares waiting in the wings. For everyday investors, that limits the type of companies where they can put their money—though some firms like Apollo are starting to offer vehicles like ETFs, as well as tokenized funds, that provide access to private companies. Critics argue that the lack of transparency, however, creates a whole host of potential problems. A firm like Ares may have less name recognition than a Sequoia or Andreessen Horowitz, though it has arguably a greater role in shaping how money moves in our economy (and they're taking on a higher profile through sports, with three Ares executives among the new Baltimore Orioles leadership group). These are the 'masters of the universe' that Tom Wolfe famously wrote about in his 1987 Wall Street classic The Bonfire of the Vanities, but they're often more hidden from view. You can read my feature on Ares' rise, including its unique structure of a CEO and two co-presidents leading its next era of growth. Leo SchwartzX: @leomschwartzEmail: Submit a deal for the Term Sheet newsletter here. Joey Abrams curated the deals section of today's newsletter. Subscribe here. This story was originally featured on
Business Wire
3 days ago
- Business
- Business Wire
Ares Management Establishes Joint Venture With Savion to Invest in U.S. Solar Power Generation
NEW YORK--(BUSINESS WIRE)--Ares Management Corporation (NYSE: ARES) ('Ares'), a leading global alternative investment manager, announced today that a fund managed by the Ares Infrastructure Opportunities strategy (the 'Ares fund') and Savion Equity, LLC ('Savion'), a subsidiary of Shell plc, have established Tango Holdings, LLC ('Tango'), a joint venture that will support solar energy development and management in the United States. Founded in 2019, Savion develops large-scale solar and energy storage projects across 28 states. Tango will manage 496 megawatts of Savion-developed solar projects in Ohio, Kentucky, Oklahoma and Indiana. Tango is jointly owned by the Ares fund (80%) and Savion (20%) and will hold equity interests in Martin County Solar Project, Kiowa County Solar Project and in three additional solar projects currently under construction. 'We look forward to partnering with Savion on this exciting initiative that allows us to draw on our combined capabilities in power generation to support these important assets,' said Steve Porto, Partner in the Ares Infrastructure Opportunities strategy. 'As a leading investor in critical private infrastructure projects, we believe Ares' scale and experience across the asset life cycle alongside Savion's operational prowess will help bolster the supply of electricity in key U.S. markets as we seek to deliver attractive returns for our investors.' This joint venture builds on Ares' track record in sourcing and executing investment opportunities in key sectors of private infrastructure through the Ares Infrastructure Opportunities strategy. With approximately 30 tenured investment professionals, the team targets assets with stable cash flow profiles that are positioned to benefit from secular tailwinds. In the past 12 months, the Ares fund has acquired an interest in power generation assets totaling over 4.0 gigawatts across nine states and four power markets. Savion will serve as the managing member of Tango with Shell Renewable Asset Management International overseeing asset management of its projects. This deal is structured to simultaneously sign and close, with an immediate effective date. Additional terms of the transaction were not disclosed. About Ares Management Corporation Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2025, Ares Management Corporation's global platform had approximately $546 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit
Perth Now
6 days ago
- Entertainment
- Perth Now
Jeff Bridges 'didn't want to offend' method actor Jared Leto
Jeff Bridges 'didn't want to offend' method actor Jared Leto on the set of Tron: Ares. The 75-year-old actor explained how his co-star wanted to be called by his character's name Ares while they were on set but he struggled to do so as he wanted to build a relationship with Jared, 53. According to The Hollywood Reporter, Jeff said at San Diego Comic-Con: 'He's one of those guys. Everyone has different methods and modes man. 'I didn't want to offend him as a thespo. But I thought, 'I wanted to have a certain intimacy with you. I know your name is Ares. Can I just call you Air?' He said, 'Yeah man! You can call me whatever you want!' We had a great time.' And, Jared shared how excited he was to work with Jeff, even calling cut in the middle of a scene because he could not stop smiling. He said: 'I just blurted out, 'cut!' Everyone was surprised, because I don't often do that. The first AD comes over and said, 'Is everything OK? What's wrong?' And I said, 'You know, I just can't stop smiling, because I'm working with my guy.'' The film - which follows on from the events of 2010's 'Tron: Legacy' - follows the computer software Ares (Leto) which is sent from the digital world into the real world to introduce artificial intelligence to humans. Bridges reprises his role as video game designer Kevin Flynn who was first introduced in the 1982 original movie. Writer/ director Steven Lisberger said: 'My feeling about Tron is the most important thing is we kick this technology around artistically before it kicks us around.'
USA Today
6 days ago
- Entertainment
- USA Today
'Tron: Ares': Jared Leto enters the Grid in new sci-fi adventure
'Tron: Ares': Jared Leto enters the Grid in new sci-fi adventure Jared Leto plays the computer program Ares as elements of the Grid begin to enter the real world in sci-fi action movie "Tron: Ares."
USA Today
6 days ago
- Entertainment
- USA Today
Greta Lee rides a lightcycle in new 'Tron: Ares' footage at Comic-Con
SAN DIEGO – No one's giddier than Greta Lee about being in a 'Tron' movie. Directed by Joachim Rønning, 'Tron: Ares' (in theaters Oct. 10) brings the computer programs from the digital Grid into the real world for the first time, all set to a cool Nine Inch Nails soundtrack. A Comic-Con panel for the sci-fi action film on Friday, July 25, debuted new footage, including a moment where digital warriors Ares (Jared Leto) and Athena (Jodie Turner-Smith) are sent to reality to take an important piece of code from programmer Eve Kim (Lee). A high-speed chase ensues, and Eve winds up stealing one of her pursuers' lightcycles. Join our Watch Party! Sign up to receive USA TODAY's movie and TV recommendations right in your inbox And it kind of made her life. 'I told my agents to find me something where I can ride a lightcycle. I actually got to ride one. It was insane,' said Lee ('Past Lives'). 'I never could have imagined it could be that fun.' Her character is also seen in the Grid riding a nifty speeder vehicle alongside Ares, with Athena's drones in hot pursuit. (She makes a deal with Ares that he'll return her to the real world in exchange for the code he needs.) One person almost as excited as Lee is the OG 'Tron' star himself, Jeff Bridges. 'It's so cool, man!' said the actor, who reprises his role as Kevin Flynn from the 1982 first film and 2010's 'Tron: Legacy.' 'Artificial intelligence, that's on everybody's hearts and minds these days, and I'm glad to be part of this story.' Bridges was joined on the panel by original 'Tron' writer/director Steven Lisberger, who said Bridges has 'been a gift to 'Tron' since day one' and over the years has seen 'Tron' become real life. 'That's more far out than 'Tron,' ' he said. 'We kind of created our own genre with virtual adventure and it's not going away,' the filmmaker added. 'It's not that Tron was ahead of its time. It's that everyone else was late.' Leto admitted that he's an 'official 'Tron' superfan,' and the actor spearheaded the making of the third movie. Back in 1982, 'video games were exploding, and films were a huge part of my life. ('Tron') just grabbed a hold of me. It took me to a place I'd never been before and rattled my imagination.' During his first day on the set, Bridges heard that Leto only wanted to be called by his character name, Ares. 'I could understand that,' Bridges said. 'It's a tough part, man, to play a program. I figured I'm playing Flynn, I'm the guy who created this thing, but I didn't wanted to offend him as a thespo. I said, 'Can I call you Air?' He said, 'You can call me whatever you want.' ' Leto got such a kick out of being around Bridges that he actually yelled 'cut' early during one take: 'I couldn't stop smiling because I was working with this guy.' There is connective tissue between 'Ares' and the original 'Tron,' from props to characters: For example, Evan Peters plays Julian Dillinger, a descendant of 'Tron' baddie Edward Dillinger (David Warner). Lee said 'Ares' is 'absolutely for superfans and die-hards, but we have this exciting opportunity to usher in a whole new audience for 'Tron.' I think we'll be able to connect a lot of different people with this movie.' Leto also shouted out 'Tron' music over the years. He called the Daft Punk soundtrack 'incredible' and was downright giddy himself about Nine Inch Nails' contributions to 'Ares.' A new music video for the single 'As Alive As You Need Me to Be' premiered at Comic-Con. 'Very few people could fill those shoes,' said Leto, and Nine Inch Nails "made music that will last a lifetime.'
