AMP Limited and Ares Management entered into a non-binding heads of agreement to pursue a joint venture for AMP Capital’s private markets businesses of infrastructure equity and infrastructure debt, real estate and other minority investments.
Funds managed by Ares Management’s credit group closed approximately $7.3 billion in commitments across 68 transactions during Q4/20 and approximately $13.7 billion in commitments across 163 transactions for all of 2020.
Guitar Center, a global musical instrument retailer, entered into a restructuring support agreement with its equity sponsor, funds managed by the private equity group of Ares Management, Brigade Capital Management and The Carlyle Group.
Ares Commercial Finance provided a $100 million senior secured revolving line of credit to Pace Industries, an entity owned by funds and accounts managed by TCW Asset Management Company and by affiliated funds and accounts of Cerberus Capital Management.
Ares provided details on new financing commitments. Funds managed by the company’s credit group closed approximately $2 billion in commitments across 31 transactions during the third quarter, totaling $6.4 billion in commitments across 95 transactions year to date.
Raj Krishnan joined Ares Management as partner and chief investment officer of Ares Insurance Solutions. Krishnan most recently served as executive vice president and chief information officer at F&G Annuities & Life.
Centric Brands emerged from voluntary Chapter 11 proceedings. Sound Point Capital Management provided exit financing to the company, while Ropes & Gray, PJT Partners and Alvarez & Marsal served as legal, financial and restructuring advisors, respectively.
Ares Management appointed John Knox Australia and New Zealand chairman of Ares SSG, furthering focus on Asia Pacific business expansion. Knox is the former CEO of Credit Suisse Australia.
RENEW Energy Partners, with private investment funds managed by Ares Infrastructure and Power, will acquire a portfolio of contracted energy efficiency and distributed power generation infrastructure projects serving the commercial, industrial and institutional end markets.