Ares Management Completes Acquisition of GCP International: A New Powerhouse in Global Real Assets

Ares Management Corporation (NYSE: ARES), a leading global alternative investment manager, has completed its acquisition of the international business of GLP Capital Partners Limited, excluding its operations in Greater China. This strategic move has solidified Ares' real estate platform as one of the largest vertically integrated platforms, nearly doubling its assets under management (AUM) to approximately $96 billion across North America, Europe, Asia, and Latin America. The acquisition adds important geographic exposure in Asia, with a significant presence in Japan through one of the largest logistics platforms in the country. It also expands Ares' local logistics platforms in emerging economies such as Brazil and Vietnam, and an expanded presence in Europe and the U.S.

GCP International, with $44 billion of AUM as of June 30, 2024, has a long history of building scaled platforms oriented to new economy sectors that benefit from attractive, long-term secular trends. The firm has differentiated itself through its vertically integrated platforms with significant local presence in major geographies, including Japan, Europe, and the U.S. It has established itself as one of the leading industrial platforms in emerging economies and is gaining a reputation as a leading player in global data center investing and operations.

The acquisition adds complementary investment, development, and operating capabilities in key new economy sectors and regions in industrial real estate and digital infrastructure. Ares now operates a digital infrastructure business with several large hyperscale projects in process across key global markets, representing over 1GW of IT capacity, and a substantial pipeline for future growth. These projects have attracted strong investor interest and, in combination with Ares' existing climate, real estate, and digital infrastructure capabilities, should enable Ares to achieve significant scale for this business.



The combined entity's expanded presence in Asia, Europe, and the U.S. influences its ability to capitalize on long-term structural trends in global real estate markets. The acquisition adds important geographic exposure in Asia, with a significant presence in Japan through one of the largest logistics platforms in the country. This expansion allows the combined entity to tap into the growing demand for logistics and industrial real estate in the region, driven by e-commerce growth and evolving supply chains. GCP International's vertically integrated platforms have significant local presence in major geographies, enabling the combined entity to better understand and capitalize on regional trends and opportunities, such as the increasing demand for data centers and self-storage facilities.

The acquisition demonstrates Ares' continued ability to thoughtfully grow its capabilities and offerings to its clients, focusing on expanding its presence in key geographies and in sectors that are well positioned to benefit from attractive long-term structural trends. GCP International adds scale and capabilities in attractive Asia markets, through one of the largest industrial platforms in Japan with nearly $20 billion of AUM, including one of the largest publicly listed Japan Real Estate Investment Trusts (JREIT) and a second scaled institutional perpetual vehicle managed by GCP International. Similarly, GCP International's industrial businesses in Europe and the U.S. have long track records of success, and the combination, once completed, is estimated to create a top three owner and operator of industrial assets globally.

In conclusion, Ares Management Corporation's acquisition of GCP International has solidified its position as a leading global real estate alternative asset manager, with approximately $96 billion in real estate assets under management. The combined entity's expanded presence in Asia, Europe, and the U.S. influences its ability to capitalize on long-term structural trends in global real estate markets, such as the growth of e-commerce, data center demand, and evolving demographic trends. The acquisition adds complementary investment, development, and operating capabilities in key new economy sectors and regions, further enhancing Ares' position as a leader in fast-growing new economy sectors.