Ares Management to acquire Crescent Point Capital, terms not disclosed

Ares Management announced that it has entered into a definitive agreement to acquire 100% of Crescent Point Capital, an Asia-focused private equity firm with approximately $3.8B of assets under management, as of March 31. The transaction is expected to be immediately accretive to Ares‘ after-tax realized income per share of Class A and non-voting common stock. The transaction consideration will be primarily comprised of Ares Class A common shares subject to a multi-year lock-up. The transaction is expected to close in the third quarter of 2023 and is subject to customary closing conditions, including regulatory approvals.