Ares Management, L.P. (NYSE:ARES) announced today the pricing of Ares
XXXI CLO Ltd., a $1.26 billion Collateralized Loan Obligation (“CLO”)
and the largest in the firm’s history. Ares XXXI was sponsored by Ares’
Tradable Credit Group and is one of the largest CLOs raised in the
market since 2007. It is primarily comprised of broadly syndicated First
Lien Senior Secured U.S. Bank Loans. The closing of Ares XXXI is
expected by the end of the third quarter and is subject to customary
closing conditions.
Ares Management is a leading global alternative asset manager and among
the largest CLO managers with more than $12 billion in CLOs managed in
the U.S. and Europe as of March 31, 2014. Ares sponsors and manages both
corporate and real estate CLOs.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any of the securities described herein,
nor shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
state or jurisdiction. The securities to be offered have not been
registered under the Securities Act of 1933 (the “Securities Act”) or
any state securities laws and may not be offered or sold in the United
States absent registration or an applicable exemption from registration
requirements of the Securities Act and applicable state securities laws.
The securities will be offered inside the United States only to
qualified institutional buyers in reliance on Rule 144A under the
Securities Act and to persons outside the United States in reliance on
Regulation S under the Securities Act.
About Ares Management, L.P.
Ares is a leading global alternative asset manager with approximately
$77 billion of assets under management and approximately 700 employees
in more than 15 offices in the United States, Europe and Asia as of
March 31, 2014. Since its inception in 1997, Ares has adhered to a
disciplined investment philosophy that focuses on delivering strong
risk-adjusted investment returns throughout market cycles. Ares believes
each of its four distinct but complementary investment groups in
Tradable Credit, Direct Lending, Private Equity and Real Estate is a
market leader based on assets under management and investment
performance. Ares was built upon the fundamental principle that each
group benefits from being part of the greater whole.
Forward Looking Statement:
Statements included herein may constitute “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of
1995, which relate to future events or future performance or financial
condition. These statements are not guarantees of future performance,
condition or results and involve a number of risks and uncertainties.
Actual results may differ materially from those in the forward-looking
statements as a result of a number of factors, including those described
from time to time in Ares’ filings with the Securities and Exchange
Commission. Ares’ undertakes no duty to update any forward-looking
statements made herein.
Copyright Business Wire 2014