Ares Management (NYSE: ARES) has launched a GP Stakes investment strategy, targeting minority equity stakes in alternative asset managers. According to sources, this is part of a broader GP solutions offering within Ares’ Secondaries business. Ares declined to comment on the matter.
GP Stakes News expects Sean Gallary to be involved with the newly established GP Stakes team. Gallary recently headed Jefferies’ GP Capital Advisory group and has joined Ares as a Partner. Prior to Jefferies, he co-founded GP Stakes firm Stonyrock Partners and led GP Stakes businesses at Carlyle and Credit Suisse. Gallary began his career in investment banking, focusing on financial institutions M&A.
With this launch, Ares becomes the fourth publicly traded firm to offer a GP Stakes strategy, joining Blue Owl’s GP Strategic Capital, Blackstone’s GP Stakes (BXGP), and Goldman Sachs’ Petershill Partners.
It is not yet clear which asset classes Ares’ GP Stakes strategy will focus on, though its broader Secondaries platform spans private equity, real estate, infrastructure, and credit—suggesting the GP Stakes effort may target similar areas. Likewise, the size of managers Ares will pursue remains unknown. By comparison, other publicly traded GP Stakes investors have historically acquired stakes in upper-middle-market and large-cap managers, though it remains to be seen whether Ares will compete in this range or pursue mid-market GP Stakes opportunities.
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