Ares Commercial Real Estate Corporation Appoints Edmond N. Moriarty, III as Independent Class I Director
April 25, 2018 at 02:11 am IST
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On and effective as of April 24, 2018, the Board of Directors of Ares Commercial Real Estate Corporation increased the size of the Board from eight to nine members and appointed Edmond N. Moriarty, III as an independent Class I director to fill the vacancy created by such increase. The initial term of Mr. Moriarty, as a Class I director, will expire at the 2019 annual meeting of stockholders of the company. Mr. Moriarty has been the Chief Financial Officer and Head of Risk for Rockefeller Capital Management and a member of its Executive Committee since March 2018. From February 2010 to February 2016, Mr. Moriarty served in various senior management positions with Morgan Stanley, including as the Head of Merchant Banking & Real Estate Investing, Alternative Investment Partners (AIP), and Managed Futures at Morgan Stanley which, in aggregate managed $77 billion of assets under management across a variety of alternative strategies and products.
Ares Commercial Real Estate Corporation is a specialty finance company. The Company is primarily engaged in originating and investing in commercial real estate (CRE) loans and related investments. The Company operates through its segment, which is primarily focused on directly originating and managing a diversified portfolio of CRE debt-related investments for the Companyâs own account. The Companyâs target investments include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans and other CRE investments, including commercial mortgage-backed securities. These investments are generally held for investment and are secured, directly or indirectly, by office, multifamily, retail, industrial, lodging, self-storage, student housing, residential, and other commercial real estate properties, or by ownership interests therein. The Companyâs portfolio is externally managed by Ares Commercial Real Estate Management LLC (the Manager).