Key Takeaways
- • Ares Management Corporation (NYSE: ARES) agreed to acquire the international business of GLP Capital Partners Limited and certain affiliates, excluding Greater China operations (GCP International), in a transaction valued at US$3.7 billion.
- • The deal includes potential additional consideration of up to US$1.5 billion, contingent on achieving certain performance metrics.
- • The acquisition nearly doubles Ares Real Estate's assets under management to approximately US$96 billion across North America, Europe, Asia, and Latin America.
- • The transaction is expected to close in the first half of 2025, subject to customary regulatory approvals and other closing conditions.
Summary
Ares Management Corporation (NYSE: ARES) has entered into a definitive agreement to acquire the international business of GLP Capital Partners Limited and certain of its affiliates, excluding operations in Greater China, along with existing capital commitments to certain managed funds. The transaction is valued at US$3.7 billion, with an additional US$1.5 billion of potential consideration payable if certain performance metrics are achieved, according to the announcement published by Latham & Watkins LLP.
Ares said the acquisition will firmly establish Ares Real Estate as one of the largest global vertically integrated real estate platforms. The deal nearly doubles the unit's assets under management to approximately US$96 billion, spanning North America, Europe, Asia, and Latin America. The transaction is expected to close in the first half of 2025, subject to customary regulatory approvals and other closing conditions.
Latham & Watkins LLP advised Ares on the transaction. The deal team was led by asset management M&A partners Alex Kelly, Owen Alexander, and Daniel Breslin, together with real estate partner Michelle Kelban. Additional firm lawyers advised on funds, real estate, tax, financial regulatory, compliance, executive compensation and labor, finance, capital markets, antitrust, data privacy and technology transactions, ESG, and insurance matters.
Ares said the acquisition will firmly establish Ares Real Estate as one of the largest global vertically integrated real estate platforms. The deal nearly doubles the unit's assets under management to approximately US$96 billion, spanning North America, Europe, Asia, and Latin America. The transaction is expected to close in the first half of 2025, subject to customary regulatory approvals and other closing conditions.
Latham & Watkins LLP advised Ares on the transaction. The deal team was led by asset management M&A partners Alex Kelly, Owen Alexander, and Daniel Breslin, together with real estate partner Michelle Kelban. Additional firm lawyers advised on funds, real estate, tax, financial regulatory, compliance, executive compensation and labor, finance, capital markets, antitrust, data privacy and technology transactions, ESG, and insurance matters.
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