Alternative investments manager Ares Management Corporation’s (Ares) subsidiary, Ares Holdings, is to acquire AMP’s PrivateMarketsCo Infrastructure Debt platform (Infrastructure Debt), one of the largest infrastructure debt investment platforms globally with approximately USD8 billion in assets under management, as of 30 September, 2021.
The transaction consideration is AUD428 million (USD308 million) and will be funded using cash on hand and Ares’ USD1.1 billion revolving credit facility.
The Infrastructure Debt team is led by its Global Head, Patrick Trears, and has 17 dedicated investment professionals located across London, Sydney, Singapore and New York. Upon closing of the transaction, Infrastructure Debt will be led by Trears and will be reported as part of a new segment for Ares called the Ares Real Assets Group. This segment will also include Real Estate led by Bill Benjamin and Infrastructure Equity led by Keith Derman and Andrew Pike. The Ares Real Assets Group would represent approximately USD48 billion of assets under management as-adjusted for the transaction, as of 30 September, 2021.
