Ares Management LLC Acquires Wrightwood Capital
- Aug 18, 2011
Los Angeles—Ares Management LLC has acquired the investment platform of Wrightwood capital, a provider of debt capital to the U.S. commercial real estate sector. Terms of the transaction were not disclosed.
As a result of this transaction, more than 40 Wrightwood professionals have joined the Ares Private Debt Group to focus on middle-market lending in the commercial real estate sector. They will be a part of the Ares Commercial Real Estate, or ACRE, investment team, which will be headquartered in Chicago with other offices in Dallas, Los Angeles, New York, Newport Beach and Washington, D.C.
ACRE will be led by John Bartling, a senior partner of ACRE and the global head of real estate at Ares Management, and by former Wrightwood CEO Bruce Cohen, who has been appointed as a senior partner of ACRE.
All of Wrightwood’s commercial real estate assets and sponsored funds will be managed by the ACRE team, and benefit from the significant resources and investment expertise of Ares Management. In addition, Ares Management retained Wrightwood’s designation as a general and special servicer by Standard & Poor’s.