ARES completed the acquisition of 49% stake of a portfolio of 10 assets from EDPR for $1.421bn.

ARES, an American publicly traded, global alternative asset manager, completed the acquisition of 49% stake of a portfolio of 10 assets from EDPR, a renewable energy company that designs, develops, manages and operates power plants, for $1.421bn. “As we continue to provide capital to support the buildout of high-quality infrastructure assets, this investment presents a compelling opportunity to further diversify Ares’ presence across key domestic power markets and growing energy subsectors,” Steve Porto, Ares Infrastructure Opportunities Partner.