Ares Management acquired an interest in a portfolio of limited partner stakes from an institutional investor. The portfolio comprises investments that are diversified across geographies and sectors and managed by general partners. Ares’ acquired interest in the portfolio has a net asset value of approximately $1.1 billion, representing the largest private equity secondary transaction in the more than 30-year history of the Ares Secondaries Group.
“This significant milestone for the Ares Secondaries Group underscores our ability to execute private equity secondaries transactions at scale,” Nate Walton, partner and head of Ares’ private equity secondaries strategy, said. “Given the ongoing challenges in today’s M&A market, Ares is focused on leveraging the strength of our platform to provide bespoke liquidity solutions for both general partners and limited partners that support their strategic objectives.”
“The transaction represents an exciting opportunity to partner with a leading institutional investor and gain exposure to a diversified portfolio of investments at attractive pricing,” Barry Miller, partner in the Ares Secondaries Group and CEO of Ares Private Markets Fund, said. “Together with adjacent strategies within Ares, we continue to demonstrate the strength of our differentiated capabilities and established relationships as we seek to deliver compelling risk-adjusted returns to our investors.”
