ARES MANAGEMENT, L.P. (NASDAQ:ARES) Files An 8-K Other Events
Item 8.01 Other Events.
In connection with the closing on January3, 2017 of the
acquisition by Ares Capital Corporation (NASDAQ:ARCC) (ARCC) of
American Capital,Ltd. (American Capital), the Registrant, through
its subsidiary Ares Capital Management LLC (ACM LLC), has
provided previously announced financial support to ARCC.
As disclosed in the Registrants Current Report on Form8-K filed
on May23, 2016,ACM LLC, which serves as investment adviser to
ARCC, agreed to (i)provide approximately $275 million of cash to
American Capital stockholders at closing to support ACM LLCs
acquisition of American Capital and (ii)waive up to $100 million
in ARCC PartI Fees for ten calendar quarters, beginning in the
second quarter of 2017, in amounts of up to $10 million of ARCC
PartI Fees to the extent earned and payable by ACM LLC in each
such quarter. ARCC PartI Fees are quarterly performance fees paid
to ACM LLC based on ACM LLCs net investment income.
On January3, 2017, the Registrant issued a press release with
respect to the foregoing. The text of the press release is
included as Exhibit99.1 to this Form8-K.
Item 9.01 Financial Statements and
Exhibits.
(d) Exhibits:
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ExhibitNumber |
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Description |
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99.1 |
Press Release of Ares Management, L.P., dated January3, |