Ares Management Corporation (ARES) said Monday it completed its acquisition of GCP International, not including its operations in greater China.
The acquisition increases Ares' total managed assets to over $525 billion, including more than $115 billion in its Real Assets division as of Dec. 31, the company said.
Ares said the transaction enhances its logistics capabilities in emerging markets such as Brazil and Vietnam.
Ming Mei will continue as a partner and senior advisor, while Michael Steele has joined Ares as a partner within the Real Assets Group, the company stated.
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