Sumitomo Mitsui Banking Acquires Stake in Ares Management

April 8, 2020

On March 30, 2020, Sumitomo Mitsui Banking Corporation announced an agreement to purchase a minority stake in Ares Management Corporation.

Pursuant to the agreement, Sumitomo Mitsui Banking Corporation, together with Sumitomo Mitsui Financial Group, Inc. (together, “SMBC”) purchased a 4.9 percent stake in Ares Management Corporation (“Ares”) for $384 million. SMBC will purchase 12.1 million common shares at $31.64 per share from Ares. Further terms of the agreement were not disclosed.

SMBC, based in Japan, is a financial institution focused on commercial banking, leasing, securities, credit cards, and consumer finance. As of December 2019, SMBC had ¥ 212.4 trillion in assets.

Ares (NYSE: ARES), based in the Los Angeles, is a global alternative investment manager focusing on credit, private equity, and real estate services. As of December 2019, Ares had $149 billion in assets under management.

To read the press release: please click here.


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Investment Manager Strategic Investments, Private Equity Strategic Investments, Transactions