- BlueCove managed $1.8 billion of assets as of February-end
- Boris Okuliar will join as a member of BlueCove’s board of directors post the completion of the deal
- Ares Management is a Los Angeles-based global alternative investment manager
Ares Management Corporation will acquire a minority equity stake in BlueCove with the option to take control of the business over a multi-year term. No financial details of the transaction were disclosed.
BlueCove is a London-based institutional scientific fixed income manager. The firm managed $1.8 billion of assets as of 28 February.
BlueCove plays a role in the development of scientific fixed income asset management as a mainstream investment style.
The transaction is expected to be competed in the second or third quarter of 2023, subject to relevant regulatory approvals.
“BlueCove immediately stood out as an ideal partner in this sector given its specialised team across investment, research, and engineering capabilities and institutional infrastructure,” said Boris Okuliar, partner, and co-head of liquid credit at Ares. “We look forward to working closely with the team and anticipate that there will be future opportunities to leverage their knowledge and experience employing advanced technology-driven data and analytics.”
Post the completion of the transaction, Okuliar will join as a member of BlueCove’s board of directors.
Los Angeles, California-based Ares Management is a global alternative investment manager offering clients investment services across the credit, private equity, real estate, and infrastructure asset classes. The firm had around $352 billion of assets under management as of 31 December 2022.