Ares Management Corporation (NYSE:ARES) is looking for strategic acquisitions. Ares Management has reported the pricing of its previously reported underwritten public offering (the Offering) of 27,000,000 shares of Series B Mandatory Convertible Preferred Stock, par value $0.01 per share (Mandatory Convertible Preferred Stock), of the Company at a public offering price of $50.00 per share of Mandatory Convertible Preferred Stock. Ares noted it intends to use the net proceeds from the Offering for (i) the payment of a portion of the cash consideration due in respect of the Company's previously reported acquisition of the international business of GLP Capital Partners Limited and certain of its affiliates, excluding its operations in Greater China (GCP International), and existing capital commitments to certain managed funds (the GCP Acquisition) and related fees, costs and expenses and/or (ii) general corporate purposes, including repayment of debt, other strategic acquisitions and growth initiatives.

Pending such use, Ares may invest the net proceeds in short-term investments and/or repay borrowings under its subsidiaries' revolving credit facility.