Ares Management related stories
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Florida pledges $700m to private equityThe $122.5bn pension system has committed to Ares Management, Warburg Pincus, RCP Advisors, AXA PE and Crescent Capital as it works to deploy $6bn over the next three years.
- GMT naval deal heralds fundraising launch
GMT Communications Partners’ third fund is 75% invested after its recent maritime training deal, with a new €350m fund set to be launched in the next few months.
- More credit funds emerge as senior debt remains scarce
As banks take a step back from providing debt in the market, opportunities are rife for private equity firms to set up special credit funds.
- JW Childs in 5x exit to Ares and Leonard Green
The Boston-based mid-market investor will sell healthcare staffing firm CHG Healthcare Services in its only full exit of 2012.
- Golub hires MD for mid-market lending
The firm has added former Fifth Third Bancorp executive Brian Crabb, bolstering its Chicago-based mid-market lending team during a particularly active period for both Golub and the private equity debt market.
- Apollo agrees $975m grocery exit to Ares
Ares Management reportedly beat rival Centerbridge Partners to acquire food retailer Smart & Final, which Apollo purchased in 2007.
- Ares launches fourth opportunities fund
The firm has already picked up a $75m commitment from New Mexico’s State Investment Council, whose staff cited strong returns from Funds II and III.
- CVC-backed Samsonite files $1.5bn IPO
Samsonite, purchased for $1.7bn at the height of the credit bubble in June 2008, will list on the Hong Kong Stock Exchange.
- New Jersey negotiates fee cuts
The $71bn pension system says cuts in fees it pays to investment managers will save it at least $40m over the next five years.
- Surprise at the finish
The race for ING REIM nears a conclusion with TPG, CBRE, Jones Lang LaSalle and Ares Capital Management all submitting final bids. Some of the finalists, though, have come as a surprise to the industry.