Ares Management completed the acquisition of 33.96% stake in Atlético for $222m.

Ares Management, a global alternative asset manager, completed the acquisition of 33.96% stake in Atlético, an operator of a soccer club, for $222m. Miguel Ángel Gil will continue to be the majority shareholder. Mark Affolter, Partner and Co-Head of US Direct Lending of Ares Management Corporation will join Atlético HoldCo's Board of Directors. “Ares is pleased to make this strategic investment in Atlético de Madrid given its international brand equity, loyal fan base and resilience through the COVID-19 pandemic. As the world begins to reopen and with the support of Ares’ flexible capital, we believe Atlético de Madrid is well-positioned to capitalize on growth in content demand and opportunities for expansion," Mark Affolter and Jim Miller, Ares Management Partners.