Ares Management Corp., represented by Latham & Watkins LLP, announced Tuesday that it has agreed to acquire GCP International, a global alternative asset management firm, in a cash and stock transaction valued at $3.7 billion. The acquisition will significantly expand Ares’ real estate platform, doubling its assets under management in the sector to $96 billion.
GCP, which has $44 billion in assets under management as of June 30, specializes in managing industrial, data center, and self-storage assets. It is the international arm of GLP Capital Partners Ltd. and its affiliates, though the deal notably excludes GCP’s China operations.
Ares to acquire GCP : Financial Structure and Strategic Goals
The transaction will involve Ares paying approximately $1.8 billion in cash and issuing $1.9 billion in Ares Class A common shares. The deal is expected to close in the first half of 2025, pending regulatory approvals and customary adjustments.
“We have long admired the global real estate experience of GCP and its capabilities in facilitating the economy of the future, which includes investing in and managing industrial, data center and self-storage assets,” said Michael Arougheti, CEO and president of Ares, in a statement. “This acquisition aligns with our strategy to create a powerhouse in global real assets investing.”
