Ares Management, an alternative asset manager, has agreed to acquire investment manager Indicus Advisors, which manages over $2bn of assets across various fund formats.
Indicus Advisors also provides advisory services on approximately $4bn of investments.
According to Ares Management, 17 Indicus professionals will join the Ares Capital Markets Group in its London and New York offices.
Based in London, David Reilly and Ujjaval Desai will be named co-heads of Ares Capital Markets Europe and will be responsible for all of Ares’ European syndicated debt and global structured products.
Ares Management senior partner and chairman of the executive committee Tony Ressler said this transaction will enhance their presence in European corporate credit where they will manage in excess of $5bn in long-only, long/short, structured products and private debt investment strategies.
Indicus co-founders Reilly and Desai jointly said their joint team will be much more significant in the marketplace at a time when they are seeing compelling opportunities for their investor base in existing and new mandates.
The terms of the transaction were not disclosed and it is subject to UK regulatory approval.