Global alternative investment manager Ares Management Corporation is to acquire 100% of Crescent Point Capital, an Asia-focused private equity firm with approximately $3.8 billion of assets under management, as of 31 March 2023.
Global alternative investment manager Ares Management Corporation is to acquire 100% of Crescent Point Capital (CPC), an Asia-focused private equity firm with approximately $3.8bn of assets under management, as of 31 March 2023.
Founded in 2003, CPC, which employs approximately 50 professionals, is headquartered in Singapore and has a presence in China, Indonesia, the Philippines and Vietnam. The firm pursues a private equity strategy focused on investing in consumer companies across the larger Southeast Asia markets and China.
As part of Ares, CPC is expected to benefit from the advantages of Ares’ scaled global platform and network, including its local market presence across the Asia Pacific region through Ares Asia, previously known as Ares SSG, which
operates with approximately 165 professionals across a local footprint of nine offices in key Asia Pacific markets.
The transaction is expected to be immediately accretive to Ares’ after-tax realised income per share of Class A and non-voting common stock. The transaction consideration will be primarily comprised of Ares Class A common shares subject to a multi-year lock-up. The transaction is expected to close in the third quarter of 2023 and is subject to customary closing conditions, including regulatory approvals.
Latham & Watkins served as legal counsel to Ares and Kirkland & Ellis and Milbank LLP acted as legal counsel to CPC.