Ares wraps up deal for Hong Kong’s SSG

In a move that was flagged in January this year, the Los Angeles-based alternative assets manager will add $6bn of assets under management in pan-Asian investment strategies.

Los Angeles-based Ares Management, currently the world’s largest fundraiser in private debt according to the PDI 50, has ramped up its presence in Asia by completing the purchase of a majority stake in SSG Capital, the Hong Kong-headquartered alternative assets firm.

The deal, which was announced subject to completion in January this year, was reported by us here, with subsequent analysis here.

With more than 70 investment professionals and more than $6 billion in assets under management, SSG sources deals across India, China, Indonesia, Thailand and other countries in the region from its Hong Kong base. The firm will operate under the “Ares SSG” brand going forward.

It was also announced today that four members of the SSG team – Edwin Wong, Shyam Maheshwari, Andreas Vourloumis and Peter Cairns – will join the Ares management committee.

“The integration and launch of Ares SSG expands our global leadership position in private credit and enhances our ability to provide investment capabilities to investors across a strategic and high-growth region,” said Michael Arougheti, chief executive officer and president of Ares.

Ares has had a busy summer so far, completing one of the world’s largest unitranche deals, closing a $3.5 billion special opportunities fund and receiving a $1 million fine from the SEC for compliance failures.