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FUNDRAISING NEWS | February 05, 2025
Tags: Private Credit
Ares Management has announced the appointment of co-presidents within its executive team, while also naming a new CEO for its BDC subsidiary Ares Capital.
Kipp deVeer and Blair Jacobson will take on the shared leadership position, operating from New York and London, respectively. DeVeer previously served as head of the credit group from 2004, while Jacobson served as co-head of the European credit counterpart for 12 years. The duo will report to Michael Arougheti, who will continue serving as CEO of Ares Management. The firm said Mitchell Goldstein and Michael Smith will continue co-heading its credit group, while Michael Dennis and Matt Theodorakis will maintain joint leadership in the European direct lending strategy.
Following the appointments, Ares also announced that Kort Schnabel will take over the CEO role of Ares Capital from DeVeer. Jim Miller, who serves as co-president with Schnabel, will remain as sole president of the subsidiary. Schnabel’s appointment will be effective on April 30, with DeVeer maintaining his position as board director.
Written By: Dakota
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