A subsidiary of Ares Management Corporation (Ares) has entered into a definitive agreement with a subsidiary of BrightSphere Investment Group Inc and Landmark Investment Holdings LP to acquire 100 per cent of Landmark Partners, LLC (collectively with its subsidiaries, Landmark), one of the largest and most experienced investors in acquiring secondary private fund ownership stakes in the alternative asset management industry.

The transaction is valued at USD1.08 billion, including approximately USD787 million in cash and approximately USD293 million in Ares Operating Group Units, in each case subject to certain adjustments.

With 150 employees across six global offices, Landmark manages private equity, real estate and infrastructure secondaries funds totalling USD18.7 billion in assets under management as of 31 December 31 2020. Supported by a global, institutional investor base of more than 600 fund investors, Landmark is viewed as a trusted and innovative counterparty in developing flexible transaction solutions to an extensive roster of financial sponsors and institutional investors.

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Source: Privaty Equity Wire