LOS ANGELES--(BUSINESS WIRE)--Ares Management Corporation (“Ares”) (NYSE: ARES) announced today that funds managed by its Credit Group have closed on a $150 million preferred equity investment in Inter Miami CF. The transaction is in connection with Inter Miami’s announcement that Jorge and Jose Mas and David Beckham have finalized the buyout of Marcelo Claure and Masayoshi Son.
Founded in 2018 and based in South Florida, Inter Miami launched its inaugural season in March 2020, becoming Major League Soccer’s (“MLS”) 25th professional sports club during the 25-year-anniversary of the North American League. Inter Miami became only the seventh club in league history to reach the MLS playoffs during its expansion season, accomplishing this during a challenging time given the pandemic. It has since continued growing and attracting top talent on and off the field.
“We are excited to support the future growth of this franchise and look forward to a long-term relationship with both Inter Miami and MLS,” said Jim Miller, Partner and Co-Head of U.S. Direct Lending at Ares. “We also look forward to continuing to provide creative capital solutions to clubs and leagues in the sports franchise sector.”
“We believe that this investment is another example of how our significant scale and flexible capital enables us to provide compelling capital solutions to major sports league owners,” said Mark Affolter, Partner and Co-Head of U.S. Direct Lending at Ares. “We remain encouraged by the attractive industry tailwinds that are driving great demand for innovative investors, like Ares, in this sector.”
“We are incredibly proud of the premier club that we are building with our fans,” said Jorge Mas, Managing Owner of Inter Miami CF. “We are also very pleased to have a strategic relationship with Ares to support our Club at this important stage of our growth.”
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2021, including the acquisition of Black Creek Group which closed July 1, 2021, Ares Management Corporation's global platform had approximately $262 billion of assets under management, with approximately 2,000 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com. Follow Ares on Twitter @Ares_Management.
About Inter Miami CF
Club Internacional de Fútbol Miami, known as Inter Miami CF, is an American professional sports team in Major League Soccer. The team made its debut in March 2020 and became only the seventh expansion team in MLS history to reach the MLS Cup Playoffs. Inter Miami plays and trains at its 34-acre centralized facility, which is inclusive of the 19,000-capacity DRV PNK Stadium, a 50,000-square-foot training center and seven fútbol fields in Fort Lauderdale, Florida. In addition to the MLS team, the Club fields the USL League One team Fort Lauderdale CF and a youth Academy for ages U-12 to U-19. Visit www.intermiamicf.com for more information.