Ares Asset Management Invests in BlueCove
On February 28, 2023, BlueCove Limited announced an agreement to form a strategic partnership with Ares Management Corporation.
Under the terms of the transaction, Ares Asset Management (“Ares”) will acquire a minority ownership stake in in BlueCove Limited (“BlueCove”), with an option to take full ownership of BlueCove over a multi-year period. Financial terms were not disclosed.
Ares (NYSE: ARES), based in Los Angeles, is a global alternative investment manager focusing on credit, private equity, and real estate services. As of December 31, 2022, Ares had $352 billion in assets under management.
BlueCove, based in London, is a fixed income asset manager focusing on data investments. As of February 28, 2023, BlueCove has $1.8 billion in assets under management.
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