Ares Management acquired Wrightwood Capital, a real estate debt investment firm, Bruce Cohen, a senior partner at Ares and former Wrightwood CEO, stated in an e-mail.
Terms were not disclosed.
Wrightwood's $1.2 billion in assets under management will be managed by Ares Commercial Real Estate, which is part of Ares' private debt group. Ares will also obtain Wrightwood's designation by Standard & Poor's as a general and special servicer.
Mr. Cohen is now a senior partner in Ares' private debt group.
About 40 of Wrightwood's staff have joined Ares to focus on commercial real estate middle-market lending, Mr. Cohen said.