Alternative asset manager Ares Management sets terms for $400 million IPO

By
A A A

Ares Management, LP, an alternative asset management firm with $74 billion in AUM, announced terms for its IPO on Tuesday. The Los Angeles, CA-based company plans to raise $400 million by offering 18.2 million units (38% insider) at a price range of $21 to $23. At the midpoint of the proposed range, Ares would command a fully diluted market value of $5.25 billion.

Ares Management, which was founded in 1997 and booked $479 million in total revenue for the fiscal year ended December 31, 2013, plans to list on the NYSE under the symbol ARES. It initially filed confidentially on January 10, 2014. J.P. Morgan, BofA Merrill Lynch, Goldman Sachs, Morgan Stanley, Wells Fargo Securities, Barclays, Citi, Credit Suisse, Deutsche Bank, RBC Capital and UBS Investment Bank are the joint bookrunners on the deal.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.




This article appears in: News Headlines , IPOs

Referenced Stocks:

Renaissance Capital

Renaissance Capital

More from Renaissance Capital:

Related Videos

What to Wear to a Wedding
What to Wear to a Wedding           
4th of July Outfits
4th of July Outfits                 

Stocks

Referenced

Most Active by Volume

62,287,287
  • $17.03 ▼ 1.10%
26,194,993
  • $30.555 ▲ 1.24%
26,150,957
  • $126.44 ▼ 0.13%
25,197,634
  • $40.59 ▼ 6.26%
25,192,083
  • $19.07 ▲ 1.54%
24,563,617
  • $26.78 ▲ 0.45%
24,474,256
  • $5.85 ▲ 1.56%
24,111,132
  • $8.83 ▲ 2.08%
As of 7/2/2015, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com