Angel Collective Opportunity Fund

Linking strategy and execution to accountable individuals is essential when people and culture are the primary determinants of success, says partner and co-head of Ares Private Equity Group, Matt Cwiertnia

Ares Management has agreed to acquire the parent company of National Veterinary Associates, a private owner of independent freestanding veterinary hospitals in the U.S. Ares will acquire the business from Summit Partners. NVA's senior management will retain a minority stake in the company. Terms of the deal were not disclosed. It is expected to close in the third quarter.

Ares Management's private equity group is to acquire BlackBrush from EIG Management Company and Tailwater Capital. BlackBrush has a history of acquiring and developing oil and gas assets across South Texas.

Kohlberg Kravis Roberts & Co LP said it would liquidate two funds targeting individual investors, in a blow to the private equity firm’s efforts to widen its appeal beyond institutional investors such as pension funds and insurance firms, sister news service Reuters reported.

KKR has said it would liquidate two funds targeting individual investors, in a blow to the private equity firm's efforts to widen its appeal beyond institutional investors such as pension funds and insurance firms, writes Reuters. Developing offerings for retail investors has historically been challenging for KKR and other private equity firms, such as Blackstone Group LP and Carlyle Group LP, because the average buyout fund is illiquid, with a typical life span of 10 years, writes Reuters.