Deals
Ares to Buy GCP’s Ex-China Assets for Up to $5.2 Billion
- Ares to pay $1.8 billion cash, $1.9 billion in shares upfront
- Acquisition boosts Ares Real Estate’s assets under management
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Ares Management Corp. agreed to acquire GLP Capital Partners Ltd.’s operations outside of China for up to $5.2 billion, in one of the biggest recent combinations in the alternative asset management industry.
Ares will initially pay about $3.7 billion for GCP’s fund management business in Japan, the US, Europe, Brazil and Vietnam, according to a statement from GLP on Tuesday, which confirmed an earlier Bloomberg News report. Of that amount, Ares will pay about $1.8 billion in cash and about $1.9 billion in Class A common shares, the US-based firm said in a separate statement.