Sumit Sasidharan Joins Ares Management as Head of Real Estate Debt Capital Markets
NEW YORK—September 6, 2017 – Ares Commercial Real Estate Corporation (NYSE:ACRE) announced today that Sumit Sasidharan has been appointed as Managing Director and Head of Real Estate Debt Capital Markets at its external manager, a subsidiary of Ares Management, L.P. (NYSE:ARES). Based in New York, Mr. Sasidharan will manage and oversee liquidity and financing opportunities within Ares’ Real Estate Debt platform, including through ACRE and other managed funds. The firm’s real estate debt team directly originates and invests in a wide range of financing opportunities for middle-market owners and operators of U.S. commercial real estate and manages approximately $3.0 billion in assets as of June 30, 2017. Mr. Sasidharan will assume the responsibilities of Precilla Torres, who will remain at Ares and take on a new role managing funds that invest in a variety of real estate securities, including commercial mortgage-backed securities.
“Sumit is an industry veteran who brings more than 20 years of commercial real estate debt experience, which further enhances the capabilities of our experienced team,” said Jamie Henderson, Partner in the Ares Real Estate Group and Co-Head of Real Estate Debt as well as President and Chief Investment Officer of ACRE. “I look forward to working with Sumit to further expand our sources of efficient capital to support the growth of our platform.”
Prior to joining Ares, Mr. Sasidharan served as Managing Director of the Annaly Commercial Real Estate Group. During his six years at Annaly, he had wide ranging responsibilities covering the investment, financing and management of the firm’s real estate activities. Most recently, Mr. Sasidharan was the Head of Capital Markets and Operations, where he served on the investment credit committee, overseeing loan pricing and structuring, whole loan financing and broad capital markets initiatives covering note syndication, sales, CMBS trading and CRE CLO securitization. Previously, Mr. Sasidharan held senior positions at CWCapital Investments, where he managed leveraged debt funds and other structured CRE products. He started his real estate career at Fitch Ratings where he analyzed CMBS new issuance and contributed to the group’s policy formation on structured products. Mr. Sasidharan holds a B.A. in Public Policy from the University of Chicago.
About Ares Commercial Real Estate Corporation
Ares Commercial Real Estate Corporation is a specialty finance company primarily engaged in originating and investing in commercial real estate loans and related investments. Through its national direct origination platform, the Company provides a broad offering of flexible and reliable financing solutions for commercial real estate owners and operators. The Company originates senior mortgage loans, as well as subordinate financings, mezzanine debt and preferred equity, with an emphasis on providing value added financing on a variety of properties located in liquid markets across the United States. Ares Commercial Real Estate Corporation elected and qualified to be taxed as a real estate investment trust and is externally managed by a subsidiary of Ares Management, L.P. For more information, please visit www.arescre.com. The contents of such website are not, and should not be deemed to be, incorporated by reference herein.
About Ares Management, L.P.
Ares Management, L.P. is a publicly traded, leading global alternative asset manager with approximately $104 billion of assets under management as of June 30, 2017 and more than 15 offices in the United States, Europe, Asia and Australia. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its three distinct but complementary investment groups in Credit, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole. For more information, visit www.aresmgmt.com.
Forward Looking Statements
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in each of Ares Management’s and Ares Commercial Real Estate Corporation’s filings with the Securities and Exchange Commission. Neither Ares Management nor Ares Commercial Real Estate Corporation undertakes any duty to update any forward-looking statements made herein.
Bill Mendel, 212-397-1030
Ares Commercial Real Estate Corporation
Carl Drake, John Stilmar or Veronica Mendiola