Jamie Henderson Joins Ares Management, L.P. as Partner in the Ares Real Estate Group and Co-Head of Ares Real Estate Debt and is

  Jamie Henderson Joins Ares Management, L.P. as Partner in the Ares Real
  Estate Group and Co-Head of Ares Real Estate Debt and is Appointed as
  President and Chief Investment Officer of Ares Commercial Real Estate
  Corporation

Business Wire

LOS ANGELES -- April 27, 2017

Ares Management, L.P. (NYSE:ARES) and Ares Commercial Real Estate Corporation
(NYSE:ACRE) announced today that Jamie Henderson will join Ares as a Partner
in the Ares Real Estate Group, and will join John Jardine as Co-Head of Real
Estate Debt, where they will both oversee originations, underwriting,
portfolio management, and business development.

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In addition, the Board of Directors of ACRE, the mortgage real estate
investment trust (REIT) managed by a subsidiary of Ares, appointed Mr.
Henderson as President and Chief Investment Officer of ACRE. Mr. Jardine will
remain as Co-Chief Executive Officer and Robert L. Rosen will remain as
Interim Co-Chief Executive Officer of ACRE.

Mr. Henderson brings more than 15 years in commercial and residential real
estate with an extensive background across originations, portfolio management
and capital raising. Prior to joining Ares, he held a variety of leadership
roles at Barings Real Estate Advisors, a global advisory firm, and its
predecessor companies Cornerstone Real Estate Advisors and Babson Capital
Management. Most recently, he was Head of Structured Real Estate Investments
at Barings, where he oversaw a leading high yield real estate debt investment
platform with teams in the U.S. and Europe. Mr. Henderson also led the
development, launch and/or investment of various high yield debt investment
vehicles. Mr. Henderson was Chairman of Barings’ Structured Real Estate
Investment Committees in the U.S. and Europe, a member of Barings’ Direct
Equity and Real Estate Securities Investment Committees, had a leading role in
Barings’ real estate private equity activities, and had direct oversight of a
100-person specialty finance company focused on multifamily lending. Prior to
joining Barings and its affiliates Cornerstone and Babson Capital in 2005, he
was a partner at a private equity real estate firm that owned and operated
over 25,000 apartments, which was focused on the acquisition and repositioning
of distressed multifamily assets. Prior to that, he served as Vice President
of Development at Oldcastle/CRH, where he focused on the acquisition,
repositioning and operation of mid-market operating companies. He served for
six years as an officer in the United States Navy after graduating from the
United States Naval Academy. He also holds an MBA from Duke University’s Fuqua
School of Business.

“Jamie has been well known to us in the value-added real estate lending market
for many years, and we are excited to be adding such a high-caliber and
successful business leader to our team,” said Bill Benjamin, Partner and Head
of the Ares Real Estate Group. “He will be instrumental in the continued
expansion of our real estate debt team, where we will look to his experience
and expertise in further building out our platform. Jamie will be a valuable
partner to Rob Rosen and John Jardine for ACRE as well as the rest of the Ares
Real Estate Group as we continue to build scale and seek to increase our share
in a market with enormous opportunity for Ares and its investors.”

“Jamie brings significant business-building and management experience across
all important aspects of commercial real estate investing, and we look forward
to his many contributions,” said Messrs. Rosen and Jardine, Co-CEOs of ACRE.
“He has experience in building a successful alternatives business and proven
abilities in attracting significant assets under management. Jamie has a deep
knowledge base of our lending markets and a successful investment track
record, which make him well suited to enhance ACRE’s future growth potential.”

“Joining ACRE and the Ares Real Estate Group in these important leadership
roles was attractive to me because of the strength of Ares Management, and the
significant growth opportunities I envision for both ACRE and the Ares real
estate debt platform,” said Mr. Henderson. “I’m looking forward to working in
partnership with John to further develop the Ares Real Estate Debt business
and with Rob and John and the rest of the ACRE team as we seek to prudently
expand shareholder value.”

About Ares Management, L.P.

Ares Management, L.P. is a publicly traded, leading global alternative asset
manager with approximately $99 billion of assets under management as of
December 31, 2016, including approximately $3.6 billion of AUM pro forma for
Ares Capital Corporation’s acquisition of American Capital, Ltd., which closed
on January 3, 2017, and more than 15 offices in the United States, Europe and
Asia. 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.

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.

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.

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Contact:

Media:
Mendel Communications
Bill Mendel, 212-397-1030
bill@mendelcommunications.com
or
Investors:
Ares Management, L.P.
Carl Drake, 800-340-6497
cdrake@aresmgmt.com
or
Ares Commercial Real Estate Corporation
Carl Drake or John Stilmar
888-818-5298
iracre@aresmgmt.com
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