Ares Management To Buy GCP International For $3.7 Bln

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(RTTNews) - Ares Management Corporation (ARES), an alternative investment manager, Tuesday said it has agreed to acquire the international business of GLP Capital Partners Limited, excluding its operations in Greater China, (GCP International) in a cash and stock transaction valued at $3.7 billion.

The consideration includes about $1.8 billion in cash and nearly $1.9 billion in Ares Class A common Shares.

The company said that the acquisition of GCP International, which has an assets under management of $44 billion as of June 30, 2024, will double Ares' AUM to about $96 billion across North America, Europe, Asia and Latin America.

The transaction is expected to add modestly to Ares' profit in the first full calendar year following the acquisition, with higher earnings expected in future years.

"We have strong conviction that combining GCP International's and Ares' investment and operating capabilities, expansive networks and collaborative cultures will create one of the world's leading real assets investment management businesses," said Ming Mei, Co-Founder and CEO of GCP and GLP.

The transaction is expected to close in the first half of 2025.