Sumitomo Mitsui buys into Ares private credit growth

Ares Management Corporation has agreed to work with Tokyo-based Sumitomo Mitsui Financial Group on future business opportunities with an equity investment of $384 million in publicly traded shares of Class A common stock.

The joint initiatives are aimed at three growth areas: strategic distribution, accretive investment opportunities and capital markets acceleration.

The plan is to enter into a strategic distribution agreement to market Ares’ investment products to Sumitomo Mitsui’s Japanese clients.

“We have enjoyed a long and mutually beneficial relationship with SMBC Group and we are excited to enhance our already . . .

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