Ares Management Acquires Interest in Diversified Portfolio of Private Equity Stakes
Apr 19, 2024 3:55 PM
Represents Ares’ Largest Ever Private Equity Secondary Transaction
NEW YORK – April 19, 2024 – Ares Management Corporation (“Ares”) (NYSE: ARES) announced today that Ares Management funds (“Ares”) have acquired an interest in a portfolio of Limited Partner stakes (the “Portfolio”) from a leading institutional investor. The Portfolio comprises investments that are diversified across geographies and sectors and managed by market-leading General Partners. Ares’ acquired interest in the Portfolio has a Net Asset Value (“NAV”) of approximately $1.1 billion, representing the largest private equity secondary transaction in the more than 30-year history of the Ares Secondaries Group.
“This significant milestone for the Ares Secondaries Group underscores our ability to execute private equity secondaries transactions at scale,” said Nate Walton, Partner and Head of Ares’ Private Equity Secondaries strategy. “Given the ongoing challenges in today’s M&A market, Ares is focused on leveraging the strength of our platform to provide bespoke liquidity solutions for both General Partners and Limited Partners that support their strategic objectives.”
“The transaction represents an exciting opportunity to partner with a leading institutional investor and gain exposure to a diversified portfolio of investments at attractive pricing,” said Barry Miller, Partner in the Ares Secondaries Group and CEO of Ares Private Markets Fund. “Together with adjacent strategies within Ares, we continue to demonstrate the strength of our differentiated capabilities and established relationships as we seek to deliver compelling risk-adjusted returns to our investors.”
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2023, Ares Management Corporation's global platform had approximately $419 billion of assets under management with approximately 2,850 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
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