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Alternative Market Briefing

Global alternative asset manager Ares Management takes controlling stake Asian alts manager SSG Capital

Wednesday, January 22, 2020

Laxman Pai, Opalesque Asia:

Global alternative asset manager Ares Management has agreed to acquire a controlling stake in Asian alternative money manager SSG Capital Holdings for an undisclosed amount.

Headquartered in Hong Kong with offices across Asia, SSG manages private credit and special situations funds totaling approximately $6.2 billion in assets under management, as of September 30, 2019.

In a statement, Ares Management said the acquisition will allow it to bring its alternative strategies, including credit, private equity, and real estate activities into Asia.

Ares Management had $144 billion in assets under management as of Sept. 30.

The acquisition will be made with Ares Class A common shares and is expected to close in the second or third quarter, subject to closing conditions and regulatory approval, according to a news release.

"We believe SSG is the ideal partner for Ares to further expand into the strategically important Asian region," said Michael Arougheti, CEO and President of Ares.

"SSG is an experienced alternative investment manager with a long-tenured team with deep investment experience, a well-established track record, comprehensive regional sourcing networks, and global institutional investor relationships. We look forward to having Edwin Wong, Shyam Maheshwari, Andreas Vourloumis, Peter Cairns and their colleagues join our firm and we envision significant benefits for our respective investors and employees following th......................

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