Michael Arougheti was named president of alternative investment firm Ares Management.
It is a new position, according people familiar with the firm.
Mr. Arougheti will also retain his positions as CEO of Ares Capital, a business development company, and chairman of the board of the firm's real estate investment trust, Ares Commercial Real Estate.
Mr. Arougheti, a senior partner and co-head of the firm's private debt group, will continue to perform these duties. He leads the group with Kipp deVeer, a senior partner in Ares private debt group.
Firm executives declined to comment, said Bill Mendel, Ares spokesman.
