Ares Management and Savion completed the formation of a joint venture Tango Holdings.

Ares Management, an alternative investment manager, and Savion, a utility-scale solar and energy storage developer, completed the formation of a joint venture Tango Holdings, a solar energy development and management company. Financial terms were not disclosed. “We look forward to partnering with Savion on this exciting initiative that allows us to draw on our combined capabilities in power generation to support these important assets. As a leading investor in critical private infrastructure projects, we believe Ares’ scale and experience across the asset life cycle alongside Savion’s operational prowess will help bolster the supply of electricity in key U.S. markets as we seek to deliver attractive returns for our investors,” Steve Porto, Ares Infrastructure Opportunities strategy Partner.