Ares Management said Friday that Charles Steel has joined the Ares Private Equity Group as a Managing Director and will be based in London. Steel previously worked at The Carlyle Group from 2001 to 2010 in European leveraged buyouts.
LOS ANGELES & LONDON–(BUSINESS WIRE)–Ares Management LLC announced today that Charles Steel has joined the Ares Private Equity Group as a Managing Director, based in London.
“We are pleased to welcome Charles to Ares Management,” said David Kaplan and Bennett Rosenthal, Senior Partners of Ares and co-Heads of the firm’s global Private Equity activities. “Charles’ extensive experience investing across a range of transaction types in Europe will be of great value as we invest a portion of our latest $4.7 billion corporate opportunities fund outside of the United States.”
“I am excited to be joining Ares Management at this time,” said Mr. Steel. “The firm has established significant resources across its five European offices and has demonstrated a multi-year track record in this region’s corporate credit marketplace. I look forward to working with my new colleagues to source and structure compelling private equity investments.”
Charles Steel previously worked at The Carlyle Group from 2001 to 2010 in European leveraged buyouts, and played a leading role in a number of significant investments for the firm. Prior to that, Mr. Steel was a member of the Investment Banking Division of Goldman Sachs since 1998. Most recently, he served as an adviser to Tony Blair on Finance & Business Development at the Office of the Quartet Representative in Jerusalem. He holds a B.A. in History with Honors from Cambridge University.
About Ares Management LLC
Ares Management LLC is a global alternative asset manager and SEC registered investment adviser, which had approximately $59 billion of committed capital under management and approximately 560 employees as of March 31, 2013. Ares is headquartered in Los Angeles with professionals located across the United States, Europe and Asia and invests across the capital structure – from senior debt to common equity. Ares’ investment activities are managed by dedicated teams in its Capital Markets, Private Debt, Private Equity and Real Estate investment platforms. Ares Management was built upon the fundamental principle that each platform benefits from being part of the greater whole. This multi-asset class synergy provides its professionals with insights into industry trends, access to significant deal flow and the ability to assess relative value.
For additional information, visit www.aresmgmt.com.
About Ares Private Equity
The Ares Private Equity Group manages approximately $9 billion of committed capital as of March 31, 2013 through five private equity funds: Ares Corporate Opportunities Fund, L.P. (2003), Ares Corporate Opportunities Fund II, L.P. (2006), Ares Corporate Opportunities Fund III, L.P. (2008), Ares Corporate Opportunities Fund IV, L.P. (2012) and Ares Corporate Opportunities Fund Asia, L.P. (2011). Unlike many traditional private equity funds that are principally focused on control buyouts and may be restricted by charter or a lack of experience, the Ares Private Equity Group pursues a range of creative transaction structures in an effort to maximize the risk/reward profile of our capital. The combination of our flexible capital approach with the broad resources of Ares Management widens our universe of potential investment opportunities and allows us not only to remain active, but highly selective in making investments in all market environments.