Ares Management entered into an agreement to acquire Asian alternative money manager SSG Capital Holdings.
The acquisition will be made with Ares Class A common shares and is expected to close in the second or third quarter, subject to closing conditions and regulatory approval, according to a news release Tuesday.
SSG Capital Holdings is based in Hong Kong and had $6.2 billion in assets under management as of Sept. 30.
Ares Management had $144 billion in assets under management as of Sept. 30.
An Ares spokesman declined comment and referred questions to the news release.