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    William (Bill) katz

    Senior Equity Analyst at TD Cowen

    William (Bill) Katz is a Senior Equity Analyst at TD Cowen, specializing in financial services and asset management companies. He covers firms such as BlackRock, Ares Management, Federated Investors, and Virtu Financial, maintaining a notable track record with a success rate ranging from 65.61% to 76.47% and delivering average returns between 12.47% and 13.86%, including a most profitable call of +167.3% on SCU. Katz began his analyst career prior to joining TD Cowen, gaining sector expertise with over 839 documented price targets on 27 stocks, and has earned recognition as a highly rated analyst with a 4.57 to 4.88-star ranking on industry platforms. He holds professional credentials relevant to equity research and is registered on major financial regulatory databases, reflecting his established reputation and depth of market knowledge.

    William (Bill) katz's questions to Ares Management (ARES) leadership

    William (Bill) katz's questions to Ares Management (ARES) leadership • Q2 2025

    Question

    William Katz asked for an update on the potential inclusion of alternative investments in 401(k) plans, inquiring about Ares's conversations with potential partners and the perceived opportunity set.

    Answer

    Michael Arougheti, Co-Founder, CEO & Director, affirmed that Ares is a strong proponent of democratizing alternatives and feels closer than ever to 401(k) inclusion. However, he cautioned that the process will likely be gradual, pending regulatory rulemaking and adoption by plan sponsors. Arougheti confirmed that Ares has a product ready and is actively engaging with retirement services partners, while emphasizing a continued focus on quality deployment over simple AUM growth.

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