Kirkland advised Ares Management Corporation (NYSE: ARES), a leading global alternative investment manager, on its agreement with a subsidiary of BrightSphere Investment Group Inc. (NYSE: BSIG) and Landmark Investment Holdings LP to acquire 100% of Landmark Partners, LLC, one of the largest and most experienced investors in acquiring secondary private fund ownership stakes in the alternative asset management industry. The transaction is valued at $1.08 billion. The business combination is expected to drive meaningful investing advantages across Ares’ platform, which will expand to include five distinct but complementary investment verticals in Credit, Private Equity, Real Estate, Strategic Initiatives and, now, Secondaries. The transaction is expected to close in the second quarter of 2021 and is subject to customary closing conditions.
The Kirkland team was led by corporate partner Jonathan Benloulou and associates Van Whiting and Aparna Bhattacharya, investment funds partner Sean Hill and associate Dan Neer, tax partners Anne Kim and Devin Heckman, and executive compensation partner Jack Stratton.