Ares Management Corp Acquires GCP International in $3.7-billion Deal

Los Angeles-based Ares Management Corp. announced a $3.7 billion deal to acquire GCP International from GLP Capital Partners Inc. on Oct. 4. The deal value could increase to $5.2 billion based on provisions measured through the end of 2027. The transaction is expected to close during the first half of 2025. It excludes operations in Greater China through GCP International. GCP will remain independent and headquartered in Singapore with a focus on investing in Greater China.

Ares’ real estate assets will total about $96 billion following the acquisition.

The acquisition makes Ares Real Estate one of the largest global platforms with assets across North America, Europe, Asia and Latin America.

“We have long admired the global real estate experience of GCP and its capabilities in facilitating the economy of the future, which includes investing in and managing industrial, data center and self-storage assets,” said Michael Arougheti, Ares chief executive and president, in a statement.