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
Financial advisers will have access to private equity investments run by WTW for the first time as it launches a pooled fund to provide savers with access to traditionally institutional assets.
Three solutions providers – Betashares, Franklin Templeton and Russell Investments – have all launched new ETF products, including one range which uses gearing to help build wealth.
Platinum Asset Management chief executive, Jeff Peters, has shared a progress update on its newly announced turnaround strategy.
There is a role for advisers using inflation-linked bonds in portfolios, according to AXA IM, as the possibility of higher inflation necessitating another US rate hike is not out of consideration.