Ares Management, LP, an alternative asset management firm with $74 billion in AUM, filed on Monday with the SEC to raise up to $100 million in an initial public offering, although the deal size is likely just a placeholder. We estimate the company could raise approximately $400 million. The Los Angeles, CA-based company, which was founded in 1997 and booked $479 million in total revenue for the year ended December 31, 2013, plans to list on the NYSE under the symbol ARES. Ares Management initially filed confidentially on January 10, 2014. J.P. Morgan, BofA Merrill Lynch, Goldman Sachs, Morgan Stanley, Wells Fargo Securities, Barclays, Citi, Credit Suisse, Deutsche Bank, RBC Capital Markets and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
