Key Takeaways
- • Ares Management Corporation (NYSE: ARES) hired Jeffrey Hughes as Managing Director to lead a newly created effort sourcing and managing privately placed investment grade credit investments, according to a Business Wire release dated January 11, 2022.
- • Hughes reports to Kipp deVeer, Head of the Ares Credit Group, and will work within Ares' direct lending and alternative credit teams.
- • Hughes brings more than 25 years of experience, most recently as Senior Director at Nuveen LLC, where he managed a private placement portfolio for TIAA and third-party clients.
- • The new effort is intended to service Aspida, Ares' insurance platform with more than $3 billion in assets under management as of September 30, 2021, and other institutional clients.
Summary
Ares Management Corporation announced that Jeffrey Hughes has joined the Ares Credit Group as a Managing Director to lead the firm's new effort in sourcing and managing privately placed investment grade credit investments, according to a Business Wire release. The role is newly created and reports to Kipp deVeer, Head of the Ares Credit Group. Hughes will work closely with Ares' direct lending and alternative credit teams to draw on the firm's industry and corporate credit expertise.
The mandate targets investment-grade private placement credit across industries including real estate, asset management, insurance, financial services, infrastructure, industrials, and sports, media and entertainment. The effort is positioned as a way to build broader investment portfolios for Aspida and Ares Insurance Solutions' insurance clients, according to comments from Raj Krishnan, Partner and Chief Investment Officer of Ares Insurance Solutions, and Kipp deVeer.
Hughes has more than 25 years of experience. He joined Ares from Nuveen LLC, where he was a Senior Director responsible for sourcing, underwriting and managing a portfolio of private placements for TIAA and several third-party clients. Earlier, he was a Vice President at AllianceBernstein, where he originated, underwriting and managed a portfolio primarily of investment grade private placements and high-yield bank loans.
Joel Holsinger, Partner and Co-Head of Alternative Credit, said the effort will further expand Ares' investment grade securities business and allow the firm to offer a wider range of products to existing borrowers. Ares reported approximately $282 billion in assets under management as of September 30, 2021.
The mandate targets investment-grade private placement credit across industries including real estate, asset management, insurance, financial services, infrastructure, industrials, and sports, media and entertainment. The effort is positioned as a way to build broader investment portfolios for Aspida and Ares Insurance Solutions' insurance clients, according to comments from Raj Krishnan, Partner and Chief Investment Officer of Ares Insurance Solutions, and Kipp deVeer.
Hughes has more than 25 years of experience. He joined Ares from Nuveen LLC, where he was a Senior Director responsible for sourcing, underwriting and managing a portfolio of private placements for TIAA and several third-party clients. Earlier, he was a Vice President at AllianceBernstein, where he originated, underwriting and managed a portfolio primarily of investment grade private placements and high-yield bank loans.
Joel Holsinger, Partner and Co-Head of Alternative Credit, said the effort will further expand Ares' investment grade securities business and allow the firm to offer a wider range of products to existing borrowers. Ares reported approximately $282 billion in assets under management as of September 30, 2021.
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