Lokesh Choudhary · · 1 min readUS investor Ares to acquire SG-based private equity firm Crescent Point
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Ares Management Corporation has agreed to acquire 100% of private equity firm Crescent Point Capita (CPC) for an undisclosed amount. The transaction is expected to be completed in the third quarter of 2023.
Headquartered in Singapore, CPC focuses on investing in Chinese and Southeast Asian consumer businesses.
The company has around US$3.8 billion in assets under management (AUM) as of March this year. Some of its notable past investments include AirAsia, Baozun, and Nghee Ann City.
“We believe that CPC is an excellent platform that will further enhance our footprint and capabilities in the region,” Michael Arougheti, CEO and president of Ares, said in a statement.
Established in 1997, Ares is a global alternative investment manager in the credit, private equity, and real estate markets. It has offices spanning North America, Europe, and Asia.
See also: VC funds tracker: Vertex bags $900m in first close of new fund
Editing by Miguel Cordon and Thu Huong Le
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