Ares Management buys London homebuilder

• Founded in 2010 amid the U.K. housing slump, London residential developer and homebuilder London Square is majority-owned by Graphite Capital. Ares Management (NYSE:ARES) has agreed to buy Graphite's stake for £110M, and plans to invest additional capital alongside London Square management with the goal of building 1K homes per year.
• Source: Press Release