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
Blackwattle Investment Partners has hired a management trio from First Sentier Investors – who departed amid the closure of four investment teams last year – to run its first equity income offering.
After passing $300 billion in funds under management, Betashares is forecasting the Australian ETF industry could reach $500 billion by the end of 2028.
Ausbil is to expand its active ETF range with two ASX-listed launches, one focusing on global small caps and one on listed infrastructure.
Up to 20 per cent of wealth and asset managers globally are set to be acquired in the next five years, according to Morgan Stanley, with focus expected to move to ‘inter-sector’ deals between industries.
