Deals
Ares, Kayne Anderson to Create $113 Billion Mega Manager
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Ares Management LP and Kayne Anderson Capital Advisors LP are merging to create Ares Kayne Management LP, an alternative investment group whose $113 billion in assets will rank it among the biggest private equity firms.
Ares will pay $2.55 billion to Kayne Anderson’s owners, consisting of $500 million to $750 million in cash and 94.7 million to 107.9 million partnership stock units, according to a regulatory filing Friday. Employees of Ares will own about half of the new company and Kayne Anderson employees approximately 30 percent, Tony Ressler, Ares’s chief executive officer, said on a conference call Friday.