Kirkland Advises Ares on JV With Mubadala to Invest in Global Credit Secondaries
Kirkland & Ellis counseled Ares Management Corp. (NYSE: ARES), a leading global alternative investment manager, on the formation of a joint venture with Mubadala Investment Co., a global sovereign investor, to invest in global credit secondaries opportunities. The joint venture will initially aim to deploy approximately $1 billion as it seeks to capitalize on the anticipated growth and substantial demand from general and limited partners for customized liquidity solutions for the credit secondaries asset class. The newly established strategy is a natural extension of Ares’ leading Credit and Secondaries platforms, which respectively had approximately $214 billion and $22 billion of assets under management as of December 31, 2022.
The Kirkland team was led by investment funds partners Sean Hill, Mike Pergler, Alpa Patel and Melissa Gainor and included investment funds associates Trevor Vincent, Zach Scott Roemer, Devon Salge and Jasmina Resic; and tax partners Joel Peters-Fransen and Andrew Chan.