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NEW YORK, March 31, 2025--(BUSINESS WIRE)--Ares Management Corporation (NYSE:ARES) ("Ares") announced today that Joel Holsinger, Partner and Co-Head of Ares’ Alternative Credit strategy, was appointed to the Board of Directors of the Ares Charitable Foundation (the "Ares Foundation") to serve as Co-Chair alongside current Chair, Michael Arougheti, Chief Executive Officer of Ares.
Since its launch in 2021, the Ares Foundation has committed more than $66 million to a global portfolio of nonprofit organizations to help people access the knowledge, resources and opportunities needed to chart pathways to self-sufficiency and drive strong local economies. To do so, the Ares Foundation awards grants and funds initiatives that strive to help individuals train and reskill for quality jobs, launch and scale businesses, and build personal financial knowledge so that they achieve economic mobility.
The Ares Foundation’s funding approach was initially inspired by Ares Alternative Credit’s Pathfinder family of funds, for which Ares and the funds’ portfolio managers have pledged to donate at least 5 to 10% of the performance fees earned to support global health and education charities. Today, 24 Ares funds have committed up to 5% of their annualized, realized net performance income to enable the Ares Foundation’s work.
"I am pleased to welcome Joel as Co-Chair of the Ares Foundation, adding his deep passion for charitable giving and his exceptional investing acumen to our efforts," said Mr. Arougheti. "Given his role in spearheading the Alternative Credit team's charitable tie-in initiative and his extensive experience working first-hand with non-profit organizations to help improve people’s lives, we are confident that his leadership will help accelerate our long-term objectives."
"I joined Ares with a personal commitment – and the unwavering support of Ares’ leadership – to align our investing activity with a greater purpose," said Mr. Holsinger. "Since then, the Ares Foundation has enabled us to expand the Firm’s charitable giving and inspire more of our team members in their work and personal lives. I am deeply humbled to join the Ares Foundation Board as we continue to deliver on our objective to create more access and opportunity for people around the world."
"Joel has championed and staunchly supported our mission since the Ares Foundation launched four years ago," said Michelle Armstrong, President of the Ares Foundation. "He had foresight to encourage a charitable tie-in with the Firm’s investment activities, and that model has helped provide durable funding for the Ares Foundation’s efforts to address some of society’s most pressing challenges. His personal philanthropic ethos coupled with his respected leadership will no doubt help advance our strategic grantmaking and initiatives, and we look forward to partnering with him to increase our global reach and impact."