Ares Management Corporation (NYSE:ARES) has reached a definitive agreement to acquire the international business of GLP Capital Partners, excluding its operations in Greater China.
The total value of the deal is approximately $3.7 billion, comprising $1.8 billion in cash and $1.9 billion in Ares Class A Common Shares.
“We have long admired the global real estate experience of GCP and its capabilities in facilitating the economy of the future, which includes investing in and managing industrial, data center, and self-storage assets,” said Michael Arougheti, Chief Executive Officer and President of Ares.
“As a combined business, we believe that Ares’ and GCP International’s experienced management teams, highly collaborative cultures, and investment track records will create a powerhouse in global real assets investing.”
The acquisition will significantly increase Ares' assets under management to approximately $96 billion, fortifying its position as a major player in real estate investment.
The transaction is expected to close in the first half of 2025.
Following the announcement, Ares Management's share price held strong at $160.56.