Benzinga | Dec 23, 2021 05:06PM EST

Ares Management To Acquire AMP's PrivateMarketsCo Infrastructure Debt Platform For $308M

Ares Management Corporation ("Ares") (NYSE:ARES), a leading global alternative investment manager, announced today that its subsidiary, Ares Holdings L.P., has entered into a definitive agreement to acquire AMP's PrivateMarketsCo Infrastructure Debt platform ("Infrastructure Debt"), one of the largest infrastructure debt investment platforms globally with approximately US$8 billion in assets under management, as of September 30, 2021. The transaction consideration is A$428 million (US$308 million) and will be funded using cash on hand and Ares' US$1.1 billion revolving credit facility.