Ares Management Corporation (NYSE:ARES) Q3 2020 Earnings Conference Call - Final Transcript
Oct 28, 2020 • 12:00 pm ET
Welcome to Ares Management Corporation's Third Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded on today, Wednesday, October 28, 2020.
I will now turn the call over to Carl Drake, Head of Public Company Investor Relations for Ares Management.
Thank you. Let me start with some important reminders. Comments made during the course of this conference call and webcast as well as accompanying documents contain forward-looking statements and are subject to risks and uncertainties, including the impact of COVID-19 related changes in base rates and significant market volatility on our business and our portfolio companies.
Many of these forward-looking statements can be identified by the use of words such as anticipates, believes, expects, intends, will, should, may and similar such expressions. The Company's actual results could differ materially from those expressed in such forward-looking statements for any reason, including those listed in its SEC filings. Ares Capital Corporation --
Welcome to Ares Management Corporation's Third Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded on Wednesday, October 28, 2020.
I will now turn the call over to Carl Drake, Head of Public Company Investor Relations for Ares Management. Please go ahead.
Good afternoon and thank you for joining us today for our third quarter 2020 conference call. I'm joined today by Michael Arougheti, our Chief Executive Officer and Michael McFerran, our Chief Operating Officer and Chief Financial Officer. In addition, we have a number of executives available for the question-and-answer session today, including Bennett Rosenthal, Co-Chairman of our Private Equity Group; Kipp deVeer, Head of our Credit Group; Bill Benjamin, Head of our Real Estate Group and Matt Cwiertnia, Co-Head of our Private Equity Group.
Before we begin, I want to remind you that comments made during this call contain forward-looking statements and are subject to risks and uncertainties, including those identified in our risk factors within our SEC filings. Our actual results could differ materially and we undertake no obligation to update any such forward-looking statements. Please note that past performance is not a guarantee of future results.
During this call, we will refer to certain non-GAAP financial measures, which should not be considered in isolation from or as a substitute for measures prepared in accordance with Generally Accepted Accounting Principles. In addition, note that our management fees include ARCC Part I fees. Please refer to our third quarter earnings presentation available on the Investor Resources section of our website for reconciliations of the measures to the most directly comparable GAAP measures. Nothing on this call constitutes an offer to sell or a solicitation of an offer to purchase an interest in any Ares Fund.
This morning we announced that we declared our fourth quarter common dividend of $0.40 per share, representing an increase of 25% of our dividend for the same quarter last year. The dividend will be paid on December 31, 2020 to holders of record on December 17, 2020.
We also declared