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Ares Management Corporation Announces Agreement to Acquire Landmark Partners Mar 31 , 2021 6:00 AM A Market - Leading Secondaries Platform that has been Delivering Attractive Investment Performance for Over 30 Years Business Combination Expected to Enhance Investing Advantages and Unlock Growth in the Attractive , Rapidly Expanding Secondaries Markets Ares to Host Conference Call Today at 8:00 a.m. Eastern Time LOS ANGELES -- ( BUSINESS WIRE ) -- Ares Management Corporation ( “ Ares ” ) ( NYSE : ARES ) announced today that a subsidiary of Ares has entered into a definitive agreement with a subsidiary of BrightSphere Investment Group Inc. ( NYSE : BSIG ) and Landmark Investment Holdings LP to acquire 100 % of Landmark Partners , LLC ( collectively with its subsidiaries , “ Landmark ” ) , one of the largest and most experienced investors in acquiring secondary private fund ownership stakes in the alternative asset management industry . The transaction is valued at $ 1.08 billion , including approximately $ 787 million in cash and approximately $ 293 million in Ares Operating Group Units , in each case subject to certain adjustments . This press release features multimedia . View the full release here : https://www.businesswire.com/ news / home / 20210331005456 / en / With 150 employees across six global offices , Landmark manages private equity , real estate and infrastructure secondaries funds totaling $ 18.7 billion in assets under management as of December 31 , 2020. Supported by a global , institutional investor base of more than 600 fund investors , Landmark is viewed as a trusted and innovative counterparty in developing flexible transaction solutions to an extensive roster of financial sponsors and institutional investors . Landmark was founded in 1989 and is led by its highly experienced management team who have capitalized on the increasing investor appetite for private market secondaries with a compound annual growth rate of 17 % in its assets under management over the past four years . " We are incredibly proud to announce this transaction with Landmark , a pioneer in developing the asset class of private market secondaries , ” said Michael Arougheti , Chief Executive Officer and President of Ares . “ We believe secondary investments are only increasing in their appeal to a growing group of investors and we are excited to include these strategies in our comprehensive alternatives offering . We have known Landmark's leadership team for many years and hold them in high regard for their approach to partnership and demonstrated ability to develop creative , win - win solutions . We look forward to welcoming Frank Borges , Tim Haviland and their colleagues and we expect significant benefits for our investors , employees and other stakeholders from this combination . " " We are excited to join forces with Ares as we enter this new chapter in Landmark's history , " said Francisco Borges , Chairman and Managing Partner of Landmark Partners . “ Ares ' global platform and significant resources will enhance our combined investment capabilities and my partners and I look forward to driving continued strong performance , transaction structuring innovation and