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Latham & Watkins Advises Ares Management in Acquisition of US$3.5 Billion Lender Finance Portfolio From Pacific Western Bank

July 25, 2023
Cross-border, multidisciplinary team represented the global alternative investment manager in transaction.

Ares Management Corporation (NYSE: ARES) (Ares), a leading global alternative investment manager, announced that certain funds managed by its Alternative Credit strategy (Alternative Credit) have completed the acquisition of a US$3.5 billion specialty finance loan portfolio (the Portfolio) from PacWest Bancorp (Nasdaq: PACW). The Portfolio consists of high quality, senior secured, asset-backed loans with commitments of approximately US$3.5 billion.

Latham & Watkins LLP advised Ares in the transaction with a cross-border deal team led by Los Angeles finance partner Douglas Burnaford, New York finance partner Loren Finegold, London finance partners Alex Martin and Jeremiah Wagner, and Chicago M&A partner Owen Alexander, with Los Angeles counsel Christopher Michail and associates Kyle Adams, Maeve Chandler, Jana Zupikova, Martin Corrigan, Jason Wong, Aris Suarez, Miles Primason, Katherine Webb, Fizza Hasan, Sean Travers, Olga (Olivia) Horbowy, Rebecca Tan, Amishi Magdani, and Gabby Tavarez. Advice was also provided on tax matters by New York partner Elena Romanova, with associate Kathryn Harrington; on investment funds regulatory matters by Chicago partner Laura Ferrell and Boston counsel Joel Cavanaugh; on ERISA matters by Los Angeles counsel Aryeh Zuber; on bank regulatory matters by New York counsel Pia Naib; on anti-corruption matters by Washington, D.C. partner Kevin Chambers; and on sanctions matters by Washington, D.C. counsel Catherine Hein.