Ares is expanding its real estate AUM by almost 50% with the takeover of Black Creek and its $11.6B in core and core-plus assets. Black Creek manages the assets thru two non-traded REITs and several institutional funds, including an open-ended vehicle focused on US industrial property.
The deal follows closely on the heels of Ares raising $1.7B for an opportunistic real estate fund as well as Ares buying Landmark Partners to capture $18.7B AUM in private equity, real estate, and infrastructure funds.
