Ares To Buy Minority Stake In BlueCove, With Option To Get Control In Multi Years

(RTTNews) - Ares Management Corp. (ARES), an alternative investment manager, Tuesday announced its agreement to acquire a minority equity stake in BlueCove Limited, the London-based scientific fixed income manager.

Ares holds the option to acquire control of the business over a multi-year term. Terms of the transaction were not disclosed.

The transaction is expected to close in the second or third quarter of 2023, subject to customary closing conditions, including regulatory approvals. Upon closing of the deal, Boris Okuliar, Partner and Co-Head of Liquid Credit at Ares, will join as a member of BlueCove's Board of Directors.

Hugh Willis, Executive Chairman and Co-founder at BlueCove, said, "We believe that this transaction has the potential to significantly accelerate our mission of bringing scientific fixed income investing to a global client base in the years to come."