– Ares Management Corporation to acquire the international business of GLP Capital Partners and affiliates, excluding Greater China operations.
– Transaction valued at $3.7 billion, including $1.8 billion in cash and $1.9 billion in Ares Class A Common Shares.
– Michael Arougheti (CEO of Ares): “We believe Ares’ and GCP International’s experienced management teams…will create a powerhouse in global real assets investing.”
– Bill Benjamin ares and Julie Solomon (Co-Heads of Ares Real Estate): “Combining our platforms will enhance our strong position…and bolster Ares as a global market leader in real estate.”
– Ming Mei (Co-Founder and CEO of GCP/GLP): “We have strong conviction that…this will create one of the world’s leading real assets investment management businesses.”
– Michael Steele (President of GCP International): “In Ares, we have found a partner that shares our philosophy and entrepreneurial culture.”
– Acquisition will nearly double Ares Real Estate’s assets under management (AUM) to $96 billion globally.
– GCP International has $44 billion AUM (as of June 30, 2024), specializing in sectors like industrial, digital infrastructure, and self-storage.
– GCP International operates in key geographies, including Japan, Europe, the U.S., Brazil, and Vietnam.
– GCP International is a leader in data center investments with over 1GW of IT capacity in major cities and a strong growth pipeline.
– Ares and GCP International believe the $2 trillion industrial real estate sector will continue benefiting from demand growth, such as e-commerce and AI.
– GCP International manages 23 funds and 320 million square feet of industrial properties.
– The deal will strengthen Ares’ presence in Asia and make it a top three global industrial asset owner.
– Transaction expected to close in the first half of 2025, subject to regulatory approvals.
– Ares secured bridge financing from Morgan Stanley and Citigroup for the deal.
– Advisors include Eastdil Secured, Barclays, Goldman Sachs, Wells Fargo, Citigroup, Morgan Stanley, Greenhill, UOB Group, and Deutsche Bank.
