Ares CEO says scaling up in private equity could "make a lot of sense" if price is right
ARES•Ares CEO discusses possible private equity expansion
NEW YORK, July 31 (Reuters) - Ares ARES.N Chief Executive Michael Arougheti said on Friday it could make sense for the private credit leader to scale up its private equity business, after a report that it had held talks to buy a smaller firm.
Arougheti said any deal would need to be a cultural and strategic fit and bring new capabilities and potential revenue.
There would be "a lot of boxes to check," and "the price has to be right", Arougheti told analysts on a conference call. "But I think the industrial logic would make a lot of sense for the right... situation."
