Ares Capital Corporation Announces Management Promotions

  Ares Capital Corporation Announces Management Promotions

   Michael J. Arougheti Promoted to CEO and R. Kipp deVeer III Promoted to
                                  President;

 Also Messrs. Beckman, Goldstein and Smith Named as Executive Vice Presidents

Business Wire

NEW YORK -- May 06, 2013

Ares Capital Corporation (Nasdaq: ARCC) announced today that its Board of
Directors has promoted its President, Michael J. Arougheti, to Chief Executive
Officer, and four longstanding executives of its investment adviser, Ares
Capital Management LLC, to officer roles within Ares Capital Corporation.

Michael J. Arougheti has been promoted to Chief Executive Officer. Mr.
Arougheti served as the President of Ares Capital Corporation since its IPO in
2004 until his promotion to Chief Executive Officer and has served as a
director since 2009. Mr. Arougheti will also continue to serve as a Senior
Partner in the Private Debt Group of Ares Management LLC, a global alternative
asset manager and an SEC-registered investment adviser, a member of Ares
Management’s Executive Committee and a member of Ares Capital Management’s
Investment Committee.

R. Kipp deVeer III has been promoted to President. Mr. deVeer will also
continue to serve as a Senior Partner in the Private Debt Group of Ares
Management and as a member of Ares Capital Management’s Investment Committee.
Mr. deVeer has been with Ares Management since 2004.

Eric B. Beckman has been promoted to Executive Vice President. Mr. Beckman
will also continue to serve as a Senior Partner in the Private Debt Group of
Ares Management and as a member of Ares Capital Management’s Investment
Committee. Mr. Beckman has been with Ares Management since 1998.

Mitchell S. Goldstein has been promoted to Executive Vice President. Mr.
Goldstein will also continue to serve as a Senior Partner in the Private Debt
Group of Ares Management and as a member of Ares Capital Management’s
Investment Committee. Mr. Goldstein has been with Ares Management since 2005.

Michael L. Smith has been promoted to Executive Vice President. Mr. Smith will
also continue to serve as a Senior Partner in the Private Debt Group of Ares
Management and as a member of Ares Capital Management’s Investment Committee.
Mr. Smith has been with Ares Management since 2004.

“These promotions recognize the leadership that these individuals have
demonstrated since ARCC’s formation and solidify their roles in leading the
company going forward,” said Bennett Rosenthal, Chairman of Ares Capital
Corporation. “On behalf of the Board, we congratulate Mike, Kipp, Eric, Mitch
and Mike on their accomplishments in growing our company and look forward to
their continued contributions in the future.”

“I am honored by the Board’s continued support and confidence in the
management team,” said Michael Arougheti, Chief Executive Officer. “I also
want to congratulate Kipp, Eric, Mitch and Mike on their accomplishments and
look forward to continuing our working relationship.”

ABOUT ARES CAPITAL CORPORATION

Ares Capital is a leading specialty finance company that provides one-stop
financing solutions to U.S. middle market companies and private equity
sponsors. Ares Capital originates and invests in senior secured loans,
mezzanine debt and, to a lesser extent, equity investments through its
national direct origination platform. Ares Capital’s investment objective is
to generate both current income and capital appreciation through debt and
equity investments primarily in private companies. Ares Capital has elected to
be regulated as a business development company and is externally managed by a
wholly owned subsidiary of Ares Management LLC. Ares Management is a global
alternative asset manager and an SEC-registered investment adviser with
approximately $59 billion of committed capital under management as of March
31, 2013.

FORWARD-LOOKING STATEMENTS

Statements included herein may constitute “forward-looking statements,” which
relate to future events or our 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 and
conditions 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 Ares Capital’s filings with the U.S. Securities and Exchange
Commission. Ares Capital undertakes no duty to update any forward-looking
statements made herein.

Contact:

Ares Capital Corporation
Carl G. Drake, 888-818-5298
 
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