On April 1, 2014, Bloomberg reported that Ares Management intends to raise $100 million in an initial public offering, according to filings made with the SEC. The total amount is a placeholder, but if raised, would make this the largest IPO of a private equity firm in the past two years.
On April 1, 2014, Bloomberg reported that Ares Management had filed to raise $100 million in an initial public offering. Ares will apply to list its shares on the New York Stock Exchange under symbol “ARES”. Ares has approximately $74 billion in credit and private equity assets under management. The proceeds from the IPO will be used to pay off company debt. Following the offering, Ares will be considered a partnership, and will limit common stockholder’s voting rights and ability to elect and remove directors.
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