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AMP and Ares Management Corporation Announce Intention to Pursue Joint Venture Partnership for AMP Capital’s Private Markets Businesses
on February 26 2021 8:05 AM
SYDNEY & NEW YORK (BUSINESS WIRE) AMP Limited (“AMP”) and Ares Management Corporation (NYSE: ARES) (“Ares”) today announced that they have entered into a non-binding Heads of Agreement to pursue the formation of a joint venture for AMP Capital’s private markets businesses of infrastructure equity and infrastructure debt, real estate and other minority investments (“Private Markets”).
Under the proposed transaction, Ares would acquire 60 per cent of Private Markets and assume management control, with AMP retaining 40 per cent. AMP and Ares will enter into a 30-day period of exclusivity, to work towards a binding transaction. ....

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