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Ares Management expands into commercial finance

Jun. 05, 2014 8:20 AM ETAres Management Corporation (ARES) StockBy: Stephen Alpher, SA News Editor
  • Ares Management (NYSE:ARES) puts its IPO money to work, buying Keltic Financial Services, a commercial finance company providing asset-based loans to small and middle-market companies.
  • As part of the deal, Ares gets Keltic's existing loan portfolio, including $155M of commitments, and forms Ares Commercial Finance to be housed within Ares Direct Lending Group.
  • Source: Press Release

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