Alleghany Invests $250 Mln in Ares Management for 6.25% Stake
Ares Management said Wednesday that Alleghany Corp. has invested $250 million in Ares for a 6.25% equity stake. Alleghany has also committed to invest up to $1 billion of capital in various existing and new Ares investment strategies. Ares plans to use the $250 million as sponsor capital in its investment vehicles. J.P. Morgan Securities and Bank of America Merrill Lynch provided financial advice to Ares. Morgan Stanley advised Alleghany.
31 July 2013•3 mins read
