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Banks contact Ares Management about potential IPO

18 Dec 2013

stock brokerage market share listedPrivate equity firm Ares Management has reportedly been contacted by banks about a potential IPO.

Major Wall Street banks have been calling on the firm to discuss an IPO following the successful flotation of Carlyle last year and the recent rally in stock markets, said Reuters, citing sources familiar with the firm. These banks include JPMorgan Chase, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley.

Ares thinks that long-term trends are favourable and it is well positioned for an IPO, but it does not see the need for an IPO in the near future, said the people.

However, that view could change if it foresaw a big acquisition opportunity and wanted to create a publicly traded stock to use as currency for the deal, but no such deal is currently on the cards, said the report.

In October Ares raised $130m for its new credit fund via an IPO on the New York Stock Exchange.

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