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EQUITY
12 Months Ended
Dec. 31, 2016
Stockholders' Equity Note [Abstract]  
EQUITY
EQUITY
Ares Management, L.P.

Common Units:
Common units represent limited partnership interests in the Company.  The holders of common units are entitled to participate pro rata in distributions from the Company and to exercise the rights or privileges that are available to common unitholders under the Company’s partnership agreement. The common unitholders have limited voting rights and have no right to remove the Company’s general partner, Ares Management GP LLC, or, except in limited circumstances, to elect the directors of the general partner.
At December 31, 2016, Ares Management, L.P. owns a 38.26% direct interest, or 80,814,732 AOG Units, in each of the Ares Operating Group entities; Ares Owners Holding L.P. owns a 55.82% direct interest, or 117,928,313 AOG Units, in each of the Ares Operating Group entities; and an affiliate of Alleghany owns a 5.92% direct interest, or 12,500,000 AOG units, in each of the Ares Operating Group entities. For the year ended December 31, 2016, the daily average ownership of AOG Units in each of the Ares Operating Group entities by Ares Owners Holding L.P., Alleghany and Ares Management, L.P. was 56.07%, 5.89% and 38.04%, respectively.
At December 31, 2015, Ares Management, L.P. owned a 37.86% direct interest, or 80,679,600 AOG Units, in each of the Ares Operating Group entities; Ares Owners Holding L.P. owned a 56.27% direct interest, or 119,905,131  AOG Units, in each of the Ares Operating Group entities; and an affiliate of Alleghany owned a 5.87% direct interest, or 12,500,000 AOG units, in each of the Ares Operating Group entities. For the year ended December 31, 2015, the daily average ownership of AOG Units in each of the Ares Operating Group entities by Ares Owners Holding L.P., Alleghany and Ares Management, L.P. was 56.27%, 5.87% and 37.86%, respectively. 
The Company’s ownership percentage of the AOG Units will continue to change upon: (i) the vesting of restricted units and exercise of options that were granted under the Equity Incentive Plan; (ii) the exchange of AOG Units for common units; (iii) the cancellation of AOG Units in connection with certain individuals’ forfeiture of AOG Units upon termination of employment and (iv) the issuance of new AOG Units, including in connection with acquisitions. Holders of the AOG Units, subject to any applicable transfer restrictions, may up to four times each year (subject to the terms of the exchange agreement) exchange their AOG Units for common units on a one-for-one basis. Equity is reallocated among partners upon a change in ownership to ensure each partners’ capital account properly reflects their respective claim on the residual value of the Company. This change is reflected as either a reallocation of interest or as dilution in the Consolidated Statements of Changes in Equity.
Preferred Equity
In June 2016, the Company issued preferred equity consisting of 12,400,000 units designated as Series A Preferred Equity (the “Preferred Equity”), for a total offering price of $310.0 million. When, as and if declared by the Company’s board of directors, distributions on the Preferred Equity are payable quarterly at a rate per annum equal to 7.00%. The Preferred Equity may be redeemed at the Company’s option, in whole or in part, at any time on or after June 30, 2021, at a price of $25.00 per unit.