Kayne Anderson Capital Advisors Agrees to Merge with Ares Management LP
LOS ANGELES - Paul Hastings LLP, a leading global law firm, represented Kayne Anderson Capital Advisors, L.P. in its definitive merger agreement with Ares Management, L.P. (ARES) that will upon closing create Ares Kayne Management, L.P., one of the largest and most diversified alternative asset managers with a combined $113 billion of assets under management as of March 31, 2015. Under the terms of the agreement, Ares will provide $2.55 billion in consideration, the majority of which will be in the form of Ares Operating Group Units. The transaction is expected to close on or around January 1, 2016, subject to customary regulatory approvals, Kayne Anderson investor consents and other closing conditions.
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