Ares Management has entered into a strategic partnership with Mubadala Investment Company and the Abu Dhabi Investment Council to create a new investment vehicle focused on acquiring minority stakes in mid-size private equity firms, according to a report by Bloomberg.
Ares will look to invest in firms with up to $30bn AUM, with the option to invest in larger firms. Nate Walton, head of Ares’s private equity secondaries business, reportedly said the firm is looking to draw on more than 1,000 general partners through its established relationships.
The GP stakes team will operate within Ares’s private equity secondaries business. It has recently added Sean Gallary to the unit, who was previously head of GP capital advisory at Jefferies Financial Group Inc.
