Ares Management to acquire GLP's ops outside China for $3.5-5B, expanding its infrastructure equity business in Asia.

Ares Management Corp. plans to acquire GLP Capital Partners Ltd.'s operations outside China for approximately $3.5 billion upfront, potentially rising to $5 billion with performance incentives. This acquisition, one of the largest in alternative asset management recently, will enhance Ares' infrastructure equity business, aligning with its strategy to expand in Asia. The announcement is anticipated on Tuesday, though neither firm has commented yet.