US-based alternative investment manager, Ares Management Corporation, and Fidante Partners, a part of Challenger Limited, have announced a strategic joint venture in Australia to co-ordinate the marketing and investment management of retail and institutional investor capital for Ares’ various credit, private equity and real estate strategies.
Additionally, the two companies formed Ares Australia Management (AAM)to support the joint venture which would act as the investment manager for new investment vehicles specifically structured for investors in Australia and New Zealand.
The firm said AAM would be well-positioned to benefit from long-term trends in the Australian market such as the superannuation system and under allocation to global fixed income assets by Australian investors.
It would be headed by a board of directors including representatives from Ares and Fidante and would be based in Sydney.
Ares’ managing director and relationship manager Bill Entwistle would be headquartered in Sydney, with Entwistle continuing as a senior member of the Ares and Fidante relationship management effort in Australia.
“Fidante’s joint venture with Ares will provide local investors access to additional investment expertise in credit, which will play an important role in delivering high quality diversified returns for investor portfolios,” Challenger Funds Management chief executive, Nick Hamilton, said.
“We look forward to launching a range of investment strategies in collaboration with Ares and help build Ares Australia Management into a successful specialist asset manager.”