Key Takeaways
- • Ares Management Corporation has entered into a definitive agreement to acquire 100% of Crescent Point Capital, a Singapore-based private equity firm managing US$3.8 billion in assets under management.
- • Crescent Point specializes in consumer-focused private equity investments across Southeast Asia and China, providing Ares with direct sourcing capabilities and established relationships in high-growth Asia Pacific markets.
- • The acquisition represents Ares's continued expansion of its Asia Pacific footprint across multiple alternative asset classes, including credit, private equity, real estate, and infrastructure.
- • Los Angeles-based Ares Management, which reported approximately $360 billion in assets under management as of March 2023, announced the deal on July 18, 2023, with completion expected in Q3 2023 subject to regulatory approval.
- • The transaction price was not disclosed, though the deal was structured as a full acquisition with legal counsel from Latham Watkins advising Ares.
Summary
Ares Management Corporation, one of the United States' largest alternative investment managers, has agreed to acquire Singapore-headquartered Crescent Point Capital in a strategic move to expand its Asia Pacific private equity capabilities. The acquisition targets a firm with $3.8 billion in assets under management and a demonstrated track record investing in consumer companies across Southeast Asia and China.
The deal, announced on July 18, 2023, represents Ares's ongoing effort to build dedicated Asia Pacific private equity strategies. Edwin Wong, head of Ares Asia, emphasized that Crescent Point's "highly collaborative culture" and "deep private equity experience, relationships and demonstrated track record of investing in markets" will complement Ares's regional expansion efforts. The transaction is structured as a 100% acquisition, with Latham Watkins providing legal counsel to Ares.
Ares Management, with approximately $360 billion in assets under management as of March 2023, has established itself across multiple alternative asset classes in Asia Pacific, including credit, private equity, real estate, and infrastructure. The Crescent Point acquisition enhances this positioning by adding a specialized private equity platform with established consumer sector expertise and regional networks. The company expects to complete the transaction in the third quarter of 2023, subject to customary regulatory approvals. The acquisition price was not disclosed.
The deal, announced on July 18, 2023, represents Ares's ongoing effort to build dedicated Asia Pacific private equity strategies. Edwin Wong, head of Ares Asia, emphasized that Crescent Point's "highly collaborative culture" and "deep private equity experience, relationships and demonstrated track record of investing in markets" will complement Ares's regional expansion efforts. The transaction is structured as a 100% acquisition, with Latham Watkins providing legal counsel to Ares.
Ares Management, with approximately $360 billion in assets under management as of March 2023, has established itself across multiple alternative asset classes in Asia Pacific, including credit, private equity, real estate, and infrastructure. The Crescent Point acquisition enhances this positioning by adding a specialized private equity platform with established consumer sector expertise and regional networks. The company expects to complete the transaction in the third quarter of 2023, subject to customary regulatory approvals. The acquisition price was not disclosed.
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