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Laxman Pai, Opalesque Asia:

US-based Ares Management Corporation said it has agreed to acquire 100% of Singapore-based private equity firm Crescent Point Capital (CPC) with approximately $3.8bn of assets under management.

Terms of the transaction were not disclosed. The owners of Crescent Point will primarily receive shares in Ares subject to a multi-year lock-up. The move brings complementary investment capabilities to Ares Asia.

According to a media release, CPC has approximately 50 professionals and the team is headquartered in Singapore and has a presence in China, Indonesia, the Philippines, and Vietnam. CPC pursues a private equity strategy focused on investing in industry-leading consumer companies across the larger Southeast Asia markets and China.

"Supported by a loyal and growing investor base over its nearly 20-year history, CPC has established a strong reputation and delivered attractive results investing through market cycles in its target sectors and geographies," the release added.

Ares has established direct sourcing and investment capabilities in the Asia Pacific region across the credit, private equity, real estate, and infrastructure asset classes through Ares Asia, previously known as Ares SSG, said the company.

Ares Asia operates with approximately 165 professionals across a local footprint of nine offices in key Asia Pacific markets, as of March 31, 2023. According to the release, this transaction highlights a continuation of Ares' gl......................

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