Parties
Company
Ares Management Corporation
Company
GLP Capital Partners Limited
On October 8, 2024, Ares Management Corporation agreed to acquire GLP Capital Partners' international business, GCP International, for approximately $3.7 billion USD (around $4.995 billion CAD). This strategic acquisition, expected to close in the first half of 2025, aimed to strengthen Ares' portfolio in industrial, digital infrastructure, and self-storage assets across North America, Europe, Asia, and Latin America, excluding Greater China. The deal aligned with Ares' growth in real assets, including properties supporting the new economy, such as data centers.
Ares has a presence in Canada, actively collaborating with Canadian institutions. Through its partnership with CIBC Asset Management, Ares provides private credit and investment management services to Canadian clients, including high-net-worth and institutional investors. This partnership allows access to Ares-managed funds in private credit and direct lending markets.
The transaction followed a strategic separation of GCP International from GLP Capital Partners' remaining operations, which will focus on Greater China. Financing for the transaction was secured via bridge commitments from Morgan Stanley Senior Funding, Inc., and Citigroup Global Markets Inc.
Ares was advised by Latham & Watkins as legal counsel, with Eastdil Secured, Barclays, Goldman Sachs, and Wells Fargo as financial advisors. On the sell side, GCP International received advice from Citigroup, Morgan Stanley, Greenhill, UOB Group, and Deutsche Bank, with Kirkland & Ellis as legal counsel.
Deal Type
Merger & AcquisitionIndustry
InfrastructureTransaction
$ 4,995,000,000Deal Status
ActiveClosing Date