Ares Management Announces Details of IPO

April 24, 2014

On April 22, 2014, Bloomberg reported that Ares Management is seeking to raise as much as $418.4 million in its initial public offering.  Ares is offering 18.2 million shares for a price estimated in the range of $21-$23 per share.

On April 22, 2014, Bloomberg reported that Ares Management LP plans to raise as much as $418.4 million in its initial public offering of 18.2 million shares.  The estimated share price is in the range of $21-$23 per share.  Abu Dhabi Investment Authority will also sell a portion of its stake in Ares as part of the IPO, declining from over 17% to 12.9%.  Ares will use a portion of the IPO proceeds to repay debt.  Following the IPO, Ares will be considered a partnership, limiting common stockholders’ voting rights and their ability to elect and remove directors of the general partnership.

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Investment Manager Financings, Private Equity Financings, Transactions