ARCC - Ares Capital Corporation (ARCC) Raymond James 45th Annual Institutional Investors Conference (Transcript)
2024-03-05 11:44:04 ET
Ares Capital Corporation (ARCC)
Raymond James 45th Annual Institutional Investors Conference
March 05, 2024 08:05 AM ET
Company Participants
Kort Schnabel - Co-President
Scott Lem - CFO
Conference Call Participants
Robert Dodd - Raymond James & Associates, Inc.
Presentation
Robert Dodd
Next up we have Ares Capital, Kort Schnabel, and Scott Lem. So, guys, if you want to walk us through the story.
Kort Schnabel
Good morning, everybody. I'm Kort Schnabel, co-President of Ares Capital Corporation. I've been with Ares about 23 years, dating back to the founding, actually before the founding of our direct lending business at Ares, based out in Los Angeles, and thrilled to be here today to talk to you a little bit about Ares Capital Corporation.
I'm going to start off just very simply and explain what we do for a living every day at Ares Capital Corporation. We go out and we find what we believe are the best middle-market companies in the United States. We make loans to these companies. We collect interest on the loans, and we pass that interest on to our shareholders in the form of a very stable and recurring dividend. We source most of these loans from the private equity channel, so about 85%, 90% of our loans are sourced from private equity and the businesses that they own. ...
Ares Capital Corporation (ARCC) Raymond James 45th Annual Institutional Investors Conference (Transcript)