Ares Capital Corp at Bank of America US Financials Conference Transcript

Feb 06, 2024

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Feb 15, 2023 / 08:20PM GMT
Derek Russell Hewett - BofA Securities, Research Division - VP

Good afternoon, everyone. I'm Derek Hewett from Bank of America. I cover the specialty finance sector here at BofA, including business development companies. With us today is Kipp deVeer, CEO of Ares Capital Corporation. So Kipp, thank you for joining us.

Robert Kipp DeVeer - Ares Capital Corporation - CEO & Director

Thanks for having me.

Questions and Answers:

Derek Russell Hewett - BofA Securities, Research Division - VP

So Kipp, could you start off by providing a brief history of Ares Capital, plus discuss maybe the investment strategy and competitive advantages of being a part of the Ares platform.

Robert Kipp DeVeer - Ares Capital Corporation - CEO & Director

I can do that. So our BDC, where I'm still the CEO here, I guess, 10 years later, we started back in '04. We're now about $22 billion of assets under management. The business has evolved a lot as it's grown. It started years ago focusing

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