Thursday, 28 August 2014
Last updated 14 hours ago
Oct 28 2013 | 12:20pm ET
Ares Capital Management co-founder Antony Ressler is preparing to join his brother-in-law in the public markets.
Ressler, whose sister is married to Apollo Global Management chief Leon Black, and who used to work at the private-equity giant himself, is planning an initial public offering for his firm. The New York Post reports that Los Angeles-based Ares has picked JPMorgan Chase to serve as underwriter, although the firm insists that it has "not hired an investment bank for a potential IPO."
Ares, which has $66 billion in assets, would seek a valuation of more than $4 billion—the valuation set by its sale of a 6.25% stake to insurer Allegheny Corp. in July. Ressler and fellow Apollo alum John Kissick founded Ares in 1997.
Proceeds from the IPO would go towards international expansion, with Western Europe a focus.
The firm is not a stranger to the world of IPOs, having earlier listed its Ares Capital Corp. subsidiary. Should the listing fail to go forward, Ares is expected to sell additional minority stakes to raise capital.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...