Ares Completes Black Creek Group Acquisition
Ares Management Corporation (NYSE: ARES), a global alternative investment manager, has completed its acquisition of Black Creek Group’s U.S. real estate investment advisory and distribution business.
Ares Management Corporation (NYSE: ARES), a global alternative investment manager, has completed its acquisition of Black Creek Group’s U.S. real estate investment advisory and distribution business.
Black Creek has approximately 300 professionals operating across eight offices throughout the U.S. and approximately $11.6 billion of assets under management, as of March 31, 2021.
Ares said that the transaction increases its AUM to approximately $239 billion as of March 31, 2021, including the acquisition of Landmark Partners, which closed June 2, 2021, and the acquisition of Black Creek Group, which closed July 1, 2021.
Since inception 25 years ago, Black Creek’s industrial platform has bought or built more than $23.3 billion of assets across the U.S.
Ares said that the transaction is expected to broaden its existing capabilities and product offerings, “enhance” its retail distribution capacity, and increase its non-traded REIT capital by $5.1 billion with the addition of Black Creek Industrial REIT IV Inc. and Black Creek Diversified Property Fund Inc.
“The integration with Black Creek marks a pivotal expansion of our group’s capabilities and products and meaningfully broadens our footprint in the U.S.,” said Bill Benjamin, partner and head of the Ares Real Estate Group. “As a combined business with approximately $29 billion in AUM and flexible capital across a full range of investment solutions, including dedicated vehicles in the high conviction industrial sector, we will be able to provide a more comprehensive offering and the integration is expected to further drive operating, sourcing and informational benefits for our investors.”
Ares Management Corporation offers investments across the credit, private equity, real estate and infrastructure asset classes. The firm has approximately 2,000 employees operating across North America, Europe, Asia Pacific and the Middle East.
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