Latham & Watkins Advises Ares Management Corporation in US$3.7 Billion Acquisition of GCP International
Ares Management Corporation (NYSE: ARES) (Ares) announced that it has entered into a definitive agreement to acquire the international business of GLP Capital Partners Limited and certain of its affiliates, excluding its operations in Greater China (GCP International), and existing capital commitments to certain managed funds, in a transaction valued at US$3.7 billion, with the potential for an additional US$1.5 billion of consideration to be paid subject to the achievement of certain performance metrics. The acquisition will firmly establish Ares Real Estate as one of the largest global vertically integrated platforms and nearly doubles its assets under management (AUM) to approximately US$96 billion across North America, Europe, Asia, and Latin America. The transaction is expected to close in the first half of 2025 subject to customary regulatory approvals and other closing conditions.
Latham & Watkins LLP represents Ares in the transaction with a deal team led by asset management M&A partners Alex Kelly, Owen Alexander, and Daniel Breslin and real estate partner Michelle Kelban, with funds partner James McCrory, M&A partners Julian Kleindorfer, Beatrice Lo, and Hiroaki Takagi, M&A counsel Ben Kaplan, Julian Azran, and Michael Rackham, and associates Mack Weber, Michael Houlder, Michael Magstadt, Noah Lipshut, Manu Vadlamudi, Mary Ann Gallucci, James Crawford Richards, Jacopo Zonouzi, Juliette Gilioli, and Elizabeth Duncan.
Advice was also provided on funds matters by partner Erin Bergey and counsel Elyn Xing, with associates Alistair Renton, Mengfei Sun, Dan Bogdan, Amelia Mason, Nicole Courtney, Daniel Sung, and Prasanth Ramaswamy; on real estate matters by partners Dara Denberg and Quentin Gwyer and counsel Lisa Brabant, Michael Beanland, and Sven Nickel, with associates Calvin Ng, Costa Thrasyvoulou, Natalia Ortiz, and Kwabena Boateng; on tax matters by partners Pardis Zomorodi and Sean Finn, with associates Christine Mainguy and Dylan White; on financial regulatory matters by partners Jamie Lynn Walter, Farhana Sharmeen, and Nicola Higgs, with associates Sean Wells, Jaime Martin, Gen Huong Tan, and Haley Hohensee; on compliance matters by partners Matthew Salerno, Clare Nida, Christopher Frey, and Hui Xu and counsel Ruchi Gill, with associates Jonathan Ritson-Candler, Christopher Rydberg, Annie Birch, Eric Green, Agnès de Fortanier, Eliane Bejjani, Yan Bao, Monica Calce, and Anna Diab; on executive compensation and labor matters by partners Josh Friedman, Sarah Gadd, Nineveh Alkhas, Tobias Leder, and Naiara Rodriguez-Escudero, with associates Charlie Bowden, Anna Cloke, and Rebecca Fishbein; on finance matters by partner Stephanie Teicher, with associates Jake Sikora, Chris Devine, Felix Buddee, and Nicholas Alston; on capital markets matters by partner Andrew Baker, with associates Alex Gulino, Adrian Hei-Yin Fong, and Sarah Soh; on antitrust matters by partner Adrien Giraud and counsels Britton Davis, Jason Daniels, and Philipp Studt, with associates Romain Perrois, Carla Palma, Alice Noguier, Louis-Victor Sachs, Nootan Vegad, Molly Claire Sprick, and Agnès de Fortanier; on data privacy and technology transactions matters by partners Morgan Brubaker and Fiona Maclean, with associates, Debora Hinck, Alex Theuer, Bianca Lee, Zoe Wang, Tyra Richmond, and Benjamin Han; on ESG matters by partners Betty Huber and Paul Davies, with associate Joelle Hageboutros; and on insurance matters by partner Harrison White.