Ares Management Corporation announced that its subsidiary, Ares Holdings L.P., has entered into a definitive agreement to acquire a controlling interest in SSG Capital Holdings Limited and its operating subsidiaries, a leading Asian alternative asset management firm.
Headquartered in Hong Kong with offices across Asia, SSG manages private credit and special situations funds totaling approximately $6.2 billion in assets under management, as of September 30, 2019. SSG is led by a highly experienced management team that has delivered investment performance across various market cycles, transaction types and Asian countries, including India, Indonesia, China and Thailand.
“We believe SSG is the ideal partner for Ares to further expand into the strategically important Asian region,” said Michael Arougheti, Chief Executive Officer and President of Ares.
“We are excited to partner with Ares and to capitalize on the significant investment opportunities we collectively see for the Asian region in the years to come,” said Edwin Wong, Chief Executive Officer of SSG Capital.
“This transaction significantly builds upon our established Asian presence and will serve as a foundation for our future expansion,” said Eric Vimont, Partner of Ares.
Ares may acquire full ownership of SSG pursuant to a contractual arrangement that may be initiated by Ares or the equity holders of SSG. The transaction is expected to close in the second or third quarter of 2020 and is subject to customary closing conditions, including regulatory approvals.
SSG was set up in 2009 by former Lehman Brothers executives Shyam Maheshwari, Edwin Wong and Andreas Vourloumis. It specialises in distressed and special situation investments and has been investing in India since 2014.
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