In early 2024, Michael Arougheti bought a stake in the Baltimore Orioles with colleagues, marking their entry into professional sports ownership. The purchase requires significant lifestyle changes, including leaving behind personal fan identities. The group joins high-profile figures, amplifying Ares Management’s prominence in the alternative asset sector. Ares excels in private credit, positioning itself to offer capital solutions globally. The firm, founded by Arougheti, Goldstein, and Smith, operates globally with its headquarters in Manhattan, emphasizing its rapid growth and competitive positioning in the investment landscape.
Michael Arougheti, alongside colleagues Mitchell Goldstein and Michael Smith, acquired a stake in the MLB’s Baltimore Orioles, entering the elite league of sports owners.
The purchase of the Orioles by Ares Management signifies the firm's rise in the alternative asset sector, showcasing its strength in private credit and investment.
Ares, headquartered in Manhattan, aims to position itself as a global capital solution provider for companies in need of funding, as stated by Goldstein.
Celebrities like David Rubenstein and Cal Ripken Jr. joined Ares in the Orioles ownership group, marking their foray into professional sports ownership.
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