Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors. The fund will also consider investments in industries such as restaurants, retail, oil and gas, and technology sectors. It focuses on investments in Northeast, Mid-Atlantic, Southeast and Southwest regions from its New York office, the Midwest region, from the Chicago office, and the Western region from the Los Angeles office. The fund typically invests between $20 million and $200 million and a maximum of $400 million in companies with an EBITDA between $10 million and $250 million. It makes debt investments between $10 million and $100 million The fund invests through revolvers, first lien loans, warrants, unitranche structures, second lien loans, mezzanine debt, private high yield, junior capital, subordinated debt, and non-control preferred and common equity. The fund also selectively considers third-party-led senior and subordinated debt financings and opportunistically considers the purchase of stressed and discounted debt positions. The fund prefers to be an agent and/or lead the transactions in which it invests. The fund also seeks board representation in its portfolio companies.
Company profile
Ticker
ARCC
Exchange
Website
CEO
Mr. Bennett Rosenthal
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
AC CORPORATE HOLDINGS, INC. • ARCC API CORP. • ASCLEPIUS HOLDINGS LLC • GEDC EQUITY, LLC • SVP HOLDINGS GP LLC • ACAS CRE CDO 2007-1, LLC • ACAS, LLC • ALLIED CRESCENT EQUITY, LLC • ARCC APEX SPV, LLC • ARCC BEACON LLC ...
IRS number
331089684
ARCC stock data
Latest filings (excl ownership)
8-K
Entry into a Material Definitive Agreement
11 Oct 24
8-K
Submission of Matters to a Vote of Security Holders
9 Aug 24
8-K
Entry into a Material Definitive Agreement
30 Jul 24
424B2
Prospectus for primary offering
30 Jul 24
10-Q
2024 Q2
Quarterly report
29 Jul 24
8-K
And Declares Third Quarter 2024 Dividend of $0.48 Per Share
29 Jul 24
DEFA14A
Additional proxy soliciting materials
19 Jul 24
8-K
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
11 Jun 24
8-K
Entry into a Material Definitive Agreement
31 May 24
8-K
Regulation FD Disclosure
20 May 24
Transcripts
ARCC
Earnings call transcript
2024 Q2
30 Jul 24
ARCC
Earnings call transcript
2024 Q1
1 May 24
ARCC
Earnings call transcript
2023 Q4
7 Feb 24
ARCC
Earnings call transcript
2023 Q3
24 Oct 23
ARCC
Earnings call transcript
2023 Q2
25 Jul 23
ARCC
Earnings call transcript
2023 Q2
25 Jul 23
ARCC
Earnings call transcript
2023 Q1
25 Apr 23
ARCC
Earnings call transcript
2022 Q4
7 Feb 23
ARCC
Earnings call transcript
2022 Q3
25 Oct 22
ARCC
Earnings call transcript
2022 Q2
26 Jul 22
Latest ownership filings
4
OUTFRONT Media Inc.
27 Sep 24
3
OUTFRONT Media Inc.
28 Mar 24
3
Paul Won Jae Cho
15 Feb 24
5
Bennett Rosenthal
14 Feb 24
4
MICHAEL KORT SCHNABEL
4 May 23
4
PENELOPE F ROLL
17 Mar 23
3
JANA MARKOWICZ
23 Jan 23
3
MICHAEL KORT SCHNABEL
28 Oct 22
4
PENELOPE F ROLL
16 Sep 22
4
MARY BETH HENSON
2 Sep 22
Financial summary
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Diluted EPS |
Annual (USD) | Dec 23 | Dec 22 | Dec 21 | Dec 20 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 681.00 mm | 681.00 mm | 681.00 mm | 681.00 mm | 681.00 mm | 681.00 mm |
Cash burn (monthly) | (no burn) | (no burn) | (no burn) | (no burn) | 439.33 mm | 137.67 mm |
Cash used (since last report) | n/a | n/a | n/a | n/a | 1.65 bn | 516.95 mm |
Cash remaining | n/a | n/a | n/a | n/a | -968.72 mm | 164.05 mm |
Runway (months of cash) | n/a | n/a | n/a | n/a | -2.2 | 1.2 |
Institutional ownership, Q2 2024
28.5% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 715 |
Opened positions | 79 |
Closed positions | 63 |
Increased positions | 300 |
Reduced positions | 193 |
13F shares | Current |
---|---|
Total value | 3.17 tn |
Total shares | 179.70 mm |
Total puts | 4.17 mm |
Total calls | 2.91 mm |
Total put/call ratio | 1.4 |
Largest owners | Shares | Value |
---|---|---|
MS Morgan Stanley | 16.01 mm | $333.66 bn |
Van Eck Associates | 11.68 mm | $243.43 mm |
BAC Bank of America | 6.65 mm | $138.68 bn |
RY Royal Bank of Canada | 5.56 mm | $115.91 bn |
LGEN Legal & General | 5.34 mm | $111.31 bn |
FMR | 5.30 mm | $110.39 bn |
AMP Ameriprise Financial | 4.11 mm | $85.76 bn |
Confluence Investment Management | 3.77 mm | $78.62 bn |
LPL Financial | 3.49 mm | $72.78 bn |
WFC Wells Fargo & Company | 3.31 mm | $69.02 bn |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
25 Sep 24 | Ares Management | Series A Preferred Stock Common Stock | Sell | Dispose S | Yes | No | 1076.4 | 125,000 | 134.55 mm | 0 |
2 May 23 | Michael Kort Schnabel | Common Stock | Buy | Acquire P | No | No | 17.84 | 15,000 | 267.60 k | 15,000 |
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