Latest news with #AresManagementCorp.
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Business Standard
14-05-2025
- Business
- Business Standard
Shapoorji Pallonji Group nears record $3.4 billion private credit deal
Privately-held Indian conglomerate Shapoorji Pallonji Group is aiming to sign a $3.4 billion debt deal as early as Wednesday evening, in what would be the country's biggest ever private credit deal, according to people familiar with the matter. About a dozen large investors, including Ares Management Corp., Cerberus Capital Management LP, Davidson Kempner Capital Management, and Farallon Capital Management participated in the deal, the people said, who asked not to be identified discussing private matters. Deutsche Bank is also investing, and will act as the sole arranger and the trustee, they added. The deal is a landmark in India's growing private credit industry, which is getting a boost as Prime Minister Narendra Modi's infrastructure push increases funding demands for everything from solar power to roads. Talks are for the three year, zero coupon rupee bond to carry an annual yield of 19.75 per cent, and the loan to value ratio is 16 per cent, the people said. Funds will be disbursed a few days after the deal is signed, they added, and the timing of the signing could change.
Bloomberg
05-03-2025
- Business
- Bloomberg
Ares, Indonesia Wealth Fund Partner for Investment Opportunities
Ares Management Corp. has teamed up with an Indonesian sovereign wealth fund to explore investment opportunities in the country, according to a joint statement. The Indonesia Investment Authority and a subsidiary of Ares have entered into an agreement to invest in Indonesia via hybrid capital and securitization, the statement showed. Ares Asia Credit funds have set aside as much as $500 million per year for such opportunities.
Bloomberg
10-02-2025
- Business
- Bloomberg
Ex-AIG Chief Secures $700 Million for Mereo Reinsurance Startup
Mereo Advisors, a Bermuda-based firm chaired by former American International Group Inc. Chief Executive Officer Brian Duperreault, has secured more than $700 million to fund its new reinsurance operations. The company received commitments from investors that include alternative asset manager Ares Management Corp., quantitative trading firm Susquehanna International Group and mutual insurance firm Andover Cos, according to a statement. Mereo is accepting further equity commitments until the end of March, said Duperreault, the company's chairman.
Yahoo
07-02-2025
- Business
- Yahoo
Ares' War Chest Swells to Record $133 Billion on Fundraising
(Bloomberg) -- Demand for credit investments drove Ares Management Corp.'s fundraising to a record in 2024, boosting the firm's war chest to $133 billion — its biggest ever. State Farm Seeks Emergency California Rate Hike After Fires Transportation Memos Favor Places With Higher Birth and Marriage Rates NYC's Newest Transit Leader Builds a Worker-Driven Strategy New York's First 'Passive House' School Is a Model of Downtown Density San Francisco Wants Wealthy Donors to Help Fix Fentanyl Crisis Ares raised $92.7 billion in new capital last year, a 25% increase from the prior year, according to a statement announcing quarterly and full-year earnings on Wednesday. Managed assets jumped 16%, with commitments to direct lending and opportunistic credit funds charging the growth. With the record fundraise, the Los Angeles-based firm is sitting on $133 billion of dry powder, positioning managers to invest opportunistically across different assets, Chief Financial Officer Jarrod Phillips said in the statement. Ares raked in about $1.3 billion in total revenue in the fourth quarter, a jump of more than 19% from a year prior. Its fee-related earnings jumped 7% to $396.2 million. Credit-dedicated fundraising is also already showing momentum this year. Last month, Ares collected €30 billion ($31.1 billion) for its latest European direct lending fund, the largest of its kind ever in the region. The company hauled in $69.1 billion across its credit group last year. Ares' Asia-Pacific credit strategy returned 27.2% in 2024, marking the firm's highest result, with all credit strategies returning double-digits. Its corporate private equity segment returned 2.4%. 'As we head into 2025, we are optimistic that we are entering into a more active transaction environment which should create more investment opportunities for our platform,' Chief Executive Officer Michael Arougheti said in the statement. --With assistance from Jack Sidders. (Updates with credit fundraising in fifth paragraph. An earlier version of this story corrected the firm's total dry powder) Amazon and SpaceX Want In on India's Satellite Internet Market Inside Elon Musk's Attack on the US Government Elon Musk Inside the Treasury Department Payment System Believing in Aliens Derailed This Internet Pioneer's Career. Now He's Facing Prison The NFL's Flawed DEI Program Still Beats What Most Companies Are Doing ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
27-01-2025
- Business
- Bloomberg
Ares to Boost Private Credit Presence in Record India Market
Ares Management Corp. is looking to grow its business in India and sees opportunities in sectors like acquisition financing and real estate loans, where local players face tighter regulation. The alternative asset manager has deployed $4.5 billion to Indian companies as of the end of September, roughly half the firm's investment in Asia over the past five years, according to Manish Jain, head of India at Ares Management Asia. Overall, the firm has about $464 billion of assets under management.
