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Ares Management to Acquire Black Creek Group’s U.S. Business
A subsidiary of Ares Management Corporation has entered into a definitive agreement to acquire 100% of Black Creek Group’s U.S. real estate investment advisory and distribution business. Denver-based Black Creek had approximately $11.6 billion of assets under management as of March 31.
Although Black Creek operates across most of the major property types, Los Angeles-based Ares singled out the Black Creek team’s quarter-century track record in industrial. “Ares believes the approximately $2-trillion industrial real estate sector exhibits consistent fundamentals across diverse market cycles and is positioned to benefit from heightened institutional interest,” according to a release.
The acquisition will also transform Ares’ retail distribution capability and add Black Creek’s two non-traded REITs, Ares said.
Eastdil Secured acted as financial advisor to Ares and Latham & Watkins served as legal counsel. Hodes Weill & Associates acted as financial advisor to Black Creek and Simpson Thacher & Bartlett served as legal counsel.
- ◦Sale/Acquisition
