Australia's AMP says Ares keen to buy 100% of unit's private markets biz

Australia's AMP says Ares keen to buy 100% of unit's private markets biz

Sydney Opera House, Sydney, Australia. Photo by Frans on Unsplash

Wealth manager AMP Ltd said on Monday that U.S.-based Ares Management Corp was interested in buying a 100% stake in its asset management arm’s private markets business, at the end of a 30-day exclusivity period between the two parties.