BUZZ-Ares Capital falls after CEO deVeer to step down
ReutersFeb 5, 2025 11:25 AM
Shares of specialty finance firm Ares Capital ARCC.O fall 3.2% to $23.05 in premarket trade
ARCC names co-president Kort Schnabel as chief executive, effective April 30
CEO Kipp deVeer will step down from his position but will remain a member of the board of directors
Schnabel joined Ares Management ARES.N in 2001 and was a founding member of its U.S. direct lending strategy in 2004
ARCC shares gained a little over 9% in 2024
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