Ares closes Convergint continuation fund

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Ares closes Convergint continuation fund

privateequitywire

3 months ago

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Ares Management Corp has closed an $850m continuation vehicle to hold portfolio company Convergint Technologies, according to a report by Bloomberg. Leonard Green & Partners acted as lead investor in the fund, with participation from the alternatives business of Goldman Sachs.
The transaction enables an asset acquired by Ares’ private equity arm in 2018 to be rolled into a new vehicle. Ares said one of its private equity funds made a substantial new investment in Convergint, a systems integr...

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