Ares Management and Fidante Partners team up for alternative investment


US-based alternative investment manager, Ares Management Corporation, and Fidante Partners, a part of Challenger Limited, have announced a strategic joint venture in Australia to co-ordinate the marketing and investment management of retail and institutional investor capital for Ares’ various credit, private equity and real estate strategies.
Additionally, the two companies formed Ares Australia Management (AAM)to support the joint venture which would act as the investment manager for new investment vehicles specifically structured for investors in Australia and New Zealand.
The firm said AAM would be well-positioned to benefit from long-term trends in the Australian market such as the superannuation system and under allocation to global fixed income assets by Australian investors.
It would be headed by a board of directors including representatives from Ares and Fidante and would be based in Sydney.
Ares’ managing director and relationship manager Bill Entwistle would be headquartered in Sydney, with Entwistle continuing as a senior member of the Ares and Fidante relationship management effort in Australia.
“Fidante’s joint venture with Ares will provide local investors access to additional investment expertise in credit, which will play an important role in delivering high quality diversified returns for investor portfolios,” Challenger Funds Management chief executive, Nick Hamilton, said.
“We look forward to launching a range of investment strategies in collaboration with Ares and help build Ares Australia Management into a successful specialist asset manager.”
Recommended for you
Lonsec and SQM Research have highlighted manager selection as a crucial risk for financial advisers when it comes to private market investments, particularly due to the clear performance dispersion.
Macquarie Asset Management has indicated its desire to commit the fast-growing wealth business in Australia by divesting part of its public investment business to Japanese investment bank Nomura.
Australia’s “sophisticated” financial services industry is a magnet for offshore fund managers, according to a global firm.
The latest Morningstar asset manager survey believes ETF providers are likely to retain the market share they have gained from active managers.