Ares Management prices offering of common shares.
M2 EQUITYBITES-March 13, 2018-Ares Management prices offering of common shares
(C)2018 M2 COMMUNICATIONS http://www.m2.com
Ares Management, L.P. (NYSE:ARES) has announced the pricing of its previously announced public offering of its common shares, the company said.
Ares is offering for sale 5,000,000 common shares and a strategic investor of Ares is offering for sale 10,000,000 common shares at a price to the public of USD 22.00 per common share.
In connection with the offering, Ares and its directors and executive officers (including its co-founders) and the Selling Shareholder have each agreed to enter into a customary lock-up agreement with the underwriters for the offering.
Wells Fargo Securities, Morgan Stanley and Credit Suisse are acting as joint book-running managers for the offering and representatives of the underwriters. Additionally, BofA Merrill Lynch, UBS Investment Bank and RBC Capital Markets are acting as joint book-running managers for the offering. Barclays is acting as senior co-manager for the offering. Keefe, Bruyette & Woods, A Stifel company and MUFG are acting as co-managers for the offering.
Ares Management, L.P. is a publicly traded, global alternative asset manager with approximately USD 106.4 billion of assets under management as of December 31, 2017 and 18 offices in the United States, Europe, Asia and Australia. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its three distinct but complementary investment groups in Credit, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole.
((Comments on this story may be sent to email@example.com))
|Printer friendly Cite/link Email Feedback|
|Publication:||M2 EquityBites (EQB)|
|Date:||Mar 13, 2018|
|Previous Article:||OneMain Holdings propose senior notes offering.|
|Next Article:||Ellington Financial reports estimated book value per share.|