Ares ups ante on AMP Capital private markets bid
Ares Capital Management has upped the ante in its negotiations with AMP Limited signalling its interest in acquiring 100% of the AMP Capital private markets business.
AMP Limited has announced that while the exclusivity period around its negotiations with Ares Capital Management over the AMP Capital private markets business has concluded, work is continuing between the two companies.
In an announcement to the Australian Securities Exchange (ASX), it said the 30-day exclusivity period in its Heads of Agreement with Ares had concluded.
“AMP and Ares continue to work towards a potential transaction and Ares has expressed interest in acquiring 100% of the private markets businesses,” it said.
“There is no certainty that a transaction will proceed, or the terms, size or structure on which it would proceed. Any transaction would remain subject to approval of AMP shareholders."
Recommended for you
Australian and New Zealand sustainable funds saw outflows of more than $1.2 billion in the second quarter of 2024, according to Morningstar, with active strategies accounting for the majority.
Maple-Brown Abbott has finalised an agreement to be acquired by a rival fund manager to create a firm with $18.6 billion in assets under management, just two months after its former CEO exited to lead Magellan.
Following a strategic review, Platinum has announced it will merge its two listed investment companies with two of its quoted managed hedge funds.
With potential US interest rate cuts on the horizon, Income Asset Management believes now is an ideal time to be investing into the corporate bond market.
