Seller Details:
The Riverside Company is a global investment firm focused on being one of the leading private equity and flexible capital options for business owners and portfolio company employees at the smaller end of the middle market by seeking to fuel transformative growth and create lasting value. Since its founding in 1988, Riverside has made more than 1,000 investments. The firm’s international private equity and flexible capital portfolios include more than 140 companies. Riverside Credit Solutions (“RCS”), a subsidiary of The Riverside Company founded in 2016, is a private credit focused investment management firm that provides senior secured loans to mainly sponsor-backed companies in the lower middle market.
Buyer Details:
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. As of June 30, 2024, Ares Management Corporation’s global platform had approximately $447 billion of assets under management, with approximately 2,950 employees operating across North America, Europe, Asia Pacific and the Middle East.
Transaction Summary:
Ares’ acquisition of The Riverside Company’s Credit Solutions business will add a tenured team with deep experience and a strong relationship network across the lower-middle market sponsor and non-sponsor lending universe. This acquisition is a natural enhancement to Ares’ global direct lending platform, which had more than $214 billion of assets under management, as of June 30, 2024.