Ares Management, L.P. (NYSE:ARES) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
Underwriting Agreement
On March2, 2017, Ares Management, L.P. (the Partnership), Ares
Management GP LLC, the general partner of the partnership (the
General Partner), Ares Holdings L.P., Ares Offshore Holdings
L.P., Ares Investments L.P., Ares Holdco LLC, AOF Holdco LLC, AI
Holdco LLC and AREC Holdings Ltd. (the Selling Unitholder)
entered into an underwriting agreement (the Underwriting
Agreement) with Wells Fargo Securities, LLC and Merrill Lynch,
Pierce, Fenner Smith Incorporated, as representatives of the
underwriters (collectively, the Underwriters) for the Selling
Unitholder to sell (the Offering) 7,500,000 of the Partnerships
Common Units (the Common Units), and, at the option of the
Underwriters, up to an additional 1,125,000 Common Units. The
Offering is expected to close on March7, 2017. The Underwriting
Agreement contains certain customary representations, warranties
and agreements by the Partnership, conditions to closing,
indemnification rights and obligations of the parties and
termination provisions.
The Offering is being made to a shelf registration statement on
FormS-3 filed with the Securities and Exchange Commission on
February27, 2017 (Registration No.333-216251), a base prospectus,
dated February27, 2017, included as part of the registration
statement and a prospectus supplement, dated March2, 2017 and
filed with the Securities and Exchange Commission on March2,
2017. The Underwriting Agreement is attached hereto as Exhibit1.1
and is incorporated herein by reference. The foregoing
description of the terms of the Underwriting Agreement is
qualified in its entirety by reference to such exhibit.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
The following document is attached as an exhibit to this Current
Report on Form8-K:
|
Exhibit Number |
|
Description |
|
1.1 |
Underwriting Agreement, dated as of March2, 2017, among |
|
|
99.1 |
Information Related to Item 14 of the Registration |
About Ares Management, L.P. (NYSE:ARES)
Ares Management, L.P. is an alternative asset manager. The Company operates through four segments: Tradable Credit Group, Direct Lending Group, Private Equity Group and Real Estate Group. Its Tradable Credit Group is a participant in the tradable, non-investment grade corporate credit markets and manages various types of investment funds, ranging from commingled and separately managed accounts for institutional investors to publicly traded vehicles and sub-advised funds for retail investors. Its Direct Lending Group is a self-originating direct lender to the United States and European markets. Its Private Equity Group manages approximately five corporate private equity commingled funds focused on North America and Europe, a China growth fund, over five commingled funds and approximately six related co-investment vehicles focused on the United States power and energy assets. Its Real Estate Group manages public and private equity and debt strategies. Ares Management, L.P. (NYSE:ARES) Recent Trading Information
Ares Management, L.P. (NYSE:ARES) closed its last trading session down -0.20 at 19.50 with 945,591 shares trading hands.