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
Flows into cash and fixed income ETFs soared in May, rising from $366 million in April to more than $1.3 billion, data from Betashares shows.
Quinbrook Infrastructure Partners has promoted its Australian head to the role of chief executive of the global investment manager.
UK-based fund manager Royal London Asset Management has appointed a Sydney-based head of regional sales as it embarks on a multiyear plan to expand its presence internationally.
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
