BUZZ-Ares Capital falls after CEO deVeer to step down

Reuters

2025/02/05

** 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

(Reporting by Pritam Biswas in Bengaluru)

((Pritam.Biswas@thomsonreuters.com))

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