Ares declined to comment, while GCP didn’t have an immediate comment when contacted by Bloomberg News.
Ares Management has agreed to acquire GLP Capital Partners’ operations outside of China, people familiar with the matter said, in what could rank as one of the biggest recent combinations in the alternative asset management industry.
Ares and GLP Capital Partners, also known as GCP, are set to announce a transaction as soon as Tuesday, the people said, asking not to be identified because the deliberations are private.
