Ares Management Corporation has announced that Julie Solomon, global chief operating officer of Ares Real Estate, has been promoted to co-head of real estate alongside Bill Benjamin, current head of real estate.
Effective immediately, Solomon and Benjamin will co-lead the Ares Real Estate business globally.
Solomon, who joined Ares in 2013, has been an 'invaluable leader' on the real estate team throughout this time, according to an Ares statement.
As global chief operating officer of Ares Real Estate, she has been a part of driving the growth and integration of the team’s portfolio management function, the buildout of its data and analytics infrastructure, and fundraising efforts.
In addition to her work as a senior leader within Ares, her real estate industry roles include serving on the advisory board of Nypen Real Estate, of which she is a founding member, and as a member of the Pension Real Estate Association (PREA) and WX New York Women Executives in Real Estate.
'After almost two decades of partnership, I am thrilled to continue leading this amazing team with Julie,' said Benjamin. 'She is a talented industry veteran whose professionalism and accomplishments are highly regarded among Ares’ team members, limited partners and industry stakeholders.
'She has been a driving force behind our team’s strategic growth as well as our culture of operational and investment excellence. With her perspectives, insights, and relationships, I am confident that she is the right leader to continue partnering with me in shaping our future.'
'I am honoured and excited to join Bill in leading the global real estate team as we continue to execute our long-term strategy,' said Solomon.
'Our team has reached many significant milestones over our nearly 20 years of working together and I am so proud of all that we have achieved. We have grown tremendously over the last few years, catapulting us to a position of strength among the top real estate investment platforms globally.
'We will continue to build upon our track record of success through our disciplined investment approach, expansion of our vertically integrated capabilities and excellent client experience,' Solomon added.
The Ares Real Estate team oversees approximately $49 bn (€45 bn) of assets under management and has more than 250 investment professionals across sixteen local offices in the US and Europe.
