Latham & Watkins Advises Ares Management in US$2.4 Billion Take-Private Transaction with Front Yard Residential

Pretium and a group of its investors and funds managed by the Real Estate Equity and Alternative Credit strategies of Ares Management Corporation (NYSE: ARES) have announced a strategic partnership to acquire Front Yard Residential Corporation (NYSE: RESI) (Front Yard), a leading provider of high-quality and affordable single-family rental (SFR) housing, in an all-cash transaction that values Front Yard at US$2.4 billion.

Latham & Watkins LLP represents Ares Management in the transaction with a corporate deal team led by New York partner Michelle Kelban and Los Angeles partner Julian Kleindorfer, with associates Owen Alexander, Sarah Smoler, and Mark Semotiuk. Advice was also provided on investment funds matters by San Diego partner Nadia Sager, with associate Shandy Pinkowksi; on general corporate matters by San Diego partner Ann Buckingham; and on tax matters by Century City partner Pardis Zomorodi.