Blackstone's Strategic Partners sold a $1.1bn private equity portfolio to Ares Management, marking Ares' largest secondaries deal.
Blackstone's Strategic Partners unit has sold a $1.1bn portfolio of private equity fund interests to Ares Management, marking the largest private equity deal completed by Ares' secondaries group. PJT Partners advised on the transaction. The portfolio consists of older fund stakes acquired from institutional sellers by Strategic Partners, which has $69bn of assets under management.
April 19, 2024
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