Ares Management
ARES
Financials
2
exclusion reasons
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Ares Management acquired Neiman Marcus in 2013 for $6 billion, loading $4.9 billion in funded debt. In 2017-2018, Ares and CPPIB allegedly orchestrated a fraudulent transfer — removing MyTheresa (valued at ~$1 billion) from creditor restrictions and distributing it to the parent company for no consideration. Neiman Marcus filed Chapter 11 bankruptcy in May 2020. Separately, Ares/Pretium's HavenBrook Homes filed 500+ evictions during the CDC pandemic moratorium, with a 4x higher eviction rate in majority-Black counties (DeKalb/Clayton GA ~20%) vs majority-white counties (Polk FL ~5%). Senate Banking Chair Sherrod Brown raised concerns. Minnesota AG Keith Ellison sued HavenBrook for uninhabitable housing — properties lacking heat, backed-up sewers, mold, lead paint risks to children, and moratorium violations. Settled for $4.2M. The Minnesota State Board of Investment pulled a $100M commitment to an Ares subsidiary.
Ares/Pretium's HavenBrook Homes filed 500+ evictions in the first 10 weeks of 2021, with a documented 4x racial disparity: ~20% of tenants in majority-Black DeKalb and Clayton Counties (GA) were served eviction filings vs ~5% in majority-white Polk County (FL). Evictions proceeded during the CDC pandemic moratorium. Named tenant Katrina Chism, a single mother who lost her job during COVID, filed a CDC hardship declaration and was still evicted. Ares stated it "does not collect racial composition data."
Research Sources
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