ARES - Ares Management to acquire Crescent Point Capital
2023-07-18 02:49:04 ET
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Ares Management ( NYSE: ARES ) has agreed to acquire 100% of Crescent Point Capital, a China and Southeast Asia-focused private equity firm with around $3.8 billion in assets under management, for an undisclosed sum.
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The transaction consideration will be primarily comprised of Ares Class A common shares subject to a multi-year lock-up.
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The move brings complementary investment capabilities to Ares Asia.
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The advantages of Ares' scalable global platform and network, including Ares' local market presence throughout the Asia Pacific region, are anticipated to benefit CPC as a member of Ares.
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The transaction is expected to be immediately accretive to Ares’ after-tax realized income per share of Class A and non-voting common stock.
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The deal is expected to close in the third quarter of 2023 and is subject to customary closing conditions, including regulatory approvals.
For further details see:
Ares Management to acquire Crescent Point Capital