Ares CEO Says Firm Open to Buying Major Private Equity Group: FT

Ares Management is open to buying a private equity group to bolster its leveraged buyout business to compete with larger rivals, chief executive Michael Arougheti told the Financial Times in an interview.

• Ares could weigh the plans as US retirement plans begin exploring how to add private assets to their portfolios, Arougheti said
• Ares may consider expanding the private equity franchise “either by getting larger, geographically diversifying, looking at sector-specific capabilities that would be additive to other parts of the franchise,” the report quoted him as saying
  • Added that no deal was imminent
• Arougheti said Ares had cash returning from ...