PE HUB Wire Highlights, 11.26.18

Ares completes C-corp conversion; Wind Point to buy Kleinfelder Group; How lack of integration causes mergers to fail

Welcome back, Hubsters. How was your long weekend? I spent my Thanksgiving having turkey et al in a heat-filled tent on a friend’s deck. It was 20 degrees, filled with sparkly lights and some good people. It was awesome.

Some interesting news this morning. Ares Management in February said it would convert its structure from a publicly listed partnership to a corporation. The firm, this morning, said the switch to a corporation is now complete. It has also changed its name to Ares Management Corp from Ares Management LP. Ares may be the first but it’s not the last to make the move to C-corp. KKRalso said in May it would ditch its partnership structure in favor of a corporation.

The move is expected to help expand the shareholder base of the firms, press reports said. Institutional investors typically don’t invest in publicly traded partnerships, the Wall Street Journal reported.

Hubsters, PE firms typically don’t trade well on the public markets. Do you think moving to a C-corp will help attract investors? Why or why not? Email me your thoughts at

Nursing homes: The Washington Post has a terrifying account about the lack of care provided by HCR ManorcareRead it here.

Waypoint Leasing Holdings Ltd, the helicopter leasing company backed by billionaires George Soros and Michael Dell, has filed for bankruptcy. See our brief here.

Funds: DH Private Equity Partners is winding down after abandoning plans to raise a new fund, according to the Wall Street JournalSee our brief here.

Lovell Minnick Partners is officially out fundraising for its latest flagship.Check out my story here.


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