Ares Management Acquires Stake in Diversified U.S. Energy Portfolio from EDPR

NEW YORK--(BUSINESS WIRE)--Ares Management Corporation (NYSE: ARES) ("Ares†), a leading global alternative investment manager, announced today that a fund managed by the Ares Infrastructure Opportunities strategy (the "Ares fund†) has acquired a 49% stake in a portfolio of assets from EDP Renováveis, S.A. ("EDPR†), a leading global developer, owner and operator of renewable energy infrastructure. The total estimated enterprise value for 100% of the portfolio amounts to approximately $2.9 billio. ...