Mr. Yao is a Principal in Ares Asia, where he focuses on Asia portfolio management. Prior to joining Ares in 2022, Mr. Yao was a Vice President in the Investment Bank - Global Credit Trading at Deutsche Bank, where he focused on structured financing and non-performing loan investments in China. Previously, Mr. Yao was an Associate Director at PricewaterhouseCoopers, where he focused on China special situations investments advisory. In addition, Mr. Yao was a Vice President at DAC Management, where he focused on special situations investments in Asia. Mr. Yao holds a B.Com., cum laude, from DePaul University in Finance and Marketing.