Ares Management SMBC

It also aims to accelerate the advancement of certain existing platforms across Ares with a particular focus on the private credit markets.SMBC will also purchase Finally, Ares intends to use the capital to invest in opportunities in its existing strategic growth initiatives. As part of this agreement, SMBC will make a $384 million equity investment in the publicly traded shares of Class A common stock of Ares.SMBC Group is one of the largest financial institutions headquartered in Japan. Ares Management Corporation (NYSE: ARES), Sumitomo Mitsui Financial Group, and Sumitomo Mitsui Banking Corporation (collectively SMBC Group) announced a strategic agreement to collaborate on future business opportunities. Goldman Sachs served as financial advisor and Kirkland & Ellis served as legal advisor to Ares.Ares Management is an alternative investment manager operating three integrated businesses across credit, private equity and real estate.SMBC Group is a financial institution headquartered in Japan. As a result of the COVID-19 global pandemic, investors are uncertain how their portfolios will evolve as we move further into 2020.

Through the subsidiaries and affiliates, SMBC Group offers a diverse range of financial services.

Following the investment, SMBC will own a 4.9% equity stake in Ares Management Corporation and the Co-Founders, other employees of Ares … Ares Management Corporation (Ares) (NYSE: ARES), Sumitomo Mitsui Financial Group, Inc. and Sumitomo Mitsui Banking Corporation (hereinafter referred as SMBC,

The Chimera S&P UAE Shariah ETF is a sub-fund of the Chimera Umbrella Fund, the first SCA umbrella…Amazon (NASDAQ: AMZN) announced Thursday that its Amazon Pay service had begun to offer two and four-wheeler insurance policies in India, in partnership with Acko General Insurance Ltd.© 2020 Following the investment, SMBC will own a 4.9% equity stake in Ares Management and the co-founders, other employees of Ares and entities controlled by such persons will own approximately 61%, on a fully exchanged basis.“We are pleased to enter into this strategic partnership to help accelerate the growth of our two businesses, and to enhance our clients’ global product needs in the attractively growing global alternative asset management industry,” Jun Ohta, president and group CEO of SMBC Group, and Masahiko Oshima, deputy president and executive officer of SMBC Group, said in a joint statement.Ares intends to use the proceeds from SMBC’s $384 million direct investment for strategic growth initiatives, including funding additional growth capital for its insurance initiative, Aspida Financial, rolling out the aforementioned new investment products in the Japanese market in partnership with SMBC Group and taking advantage of opportunities presented by the current market dislocation.“Beyond the growth opportunity that this partnership presents for both of our firms, the strategic investment by SMBC coupled with Ares’ existing strong balance sheet and liquidity position and our proven ability to grow through periods of extreme market dislocation provides an opportunity for our firms to jointly capitalize on compelling risk-adjusted investments in this period of market volatility,” Michael McFerran, chief operating officer and CFO of Ares, said.Citi served as financial advisor and Skadden, Arps, Slate, Meagher & Flom served as legal advisor to SMBC Group.

Meanwhile, Ares Management Corporation is a leading global alternative investment manager operating three integrated businesses across credit, private equity, and real estate. These services include commercial banking, leasing, securities, credit card, consumer finance, and other services.Meanwhile, Ares Management Corporation is a leading global alternative investment manager operating three integrated businesses across credit, private equity, and real estateUnder the terms of the agreement, SMBC Group will market Ares Management investment products to its clients in Japan.

These opportunities include additional growth capital for its insurance initiative, Aspida Financial, rolling out the aforementioned new investment products in the Japanese market in partnership with SMBC Group, and taking advantage of opportunities presented by the current market dislocation.Subscribe to our free newsletter for updates and news about alternatives investments. The startup achieved unicorn status…Abu Dhabi-based Chimera launches the UAE’s first ETF tracking a Shariah-compliant index.

Under the terms of the agreement, SMBC Group will market Ares Management investment products to its clients in Japan. “We believe this partnership will empower both of our firms to further leverage our individual franchise strengths and will enable us to accelerate the growth of many new strategic business initiatives on a global scale.”As part of this multi-faceted partnership, SMBC will purchase 12.1 million shares of Class A common stock from Ares at a price per share of $31.64 based on the volume weighted average price over the last 30 trading days prior to this announcement. SMBC to invest $384m in Ares.

Sumitomo Mitsui Banking Corporation will invest $384 million in Ares Management Corporation, an alternative investment manager.

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