Ares Management Corp. has hired four executives, all in new positions, including two new partners for its alternative investment secondary market business and a managing director for its credit business, a firm spokesman said in an email.
Sebastien Burdel and Luca Salvato are joining as partners and Clement Beaudin as a principal on Ares Management Corp.'s alternative investment secondary market team. Messrs. Burdel and Salvato were founding partners of secondary market manager Spring Bridge Partners, which they formed in 2017. They bring about $150 million in assets under management to Ares, according to a news release. Mr. Beaudin had been a principal at Spring Bridge Partners. Prior to Spring Bridge, all three had worked for secondary market manager Coller Capital. They report to Francisco Borges and Timothy Haviland, who are both partners and co-heads of Ares' secondaries business.
Additionally, Jeffrey Hughes has joined Ares as a managing director on the firm's credit team. He is focusing on investment-grade private placement credit investments, and he reports to Kipp deVeer, director and partner of Ares Management Corp. and head of the Ares Credit Group.
Previously, Mr. Hughes was a senior director at Nuveen where he managed a private placements portfolio. For now, Mr. Hughes’ responsibilities have been assumed by the team, a Nuveen spokeswoman said in an email. However, there are plans in place to recruit an investment professional for Nuveen’s private placements team in the first quarter.
Ares has $282 billion in assets under management.
