Ares SSG, the alternative investment unit of US-based Ares Management Corporation, plans to invest as much as 15 billion baht (US$347.55 million) in Thailand over the next five years, according to a report in local English language daily Bangkok Post.
The company has already invested over 11 billion baht in credit and private equity in Thailand since 2016, when it acquired Bangkok-based asset Alpha Capital Asset Management, the July 23 report says, quoting Andreas Vourloumis, co-founder of Ares SSG.
He describes the planned 15 billion baht investment as “ambitious”, and a “testament of our confidence in the long-term prospects for Thailand”.
He says the company is eyeing opportunities in a “wide range of industries”, including real estate, hospitality, financial, retail, and industrial.
Ares SSG, which is headquartered in Hong Kong, had $6.1 billion of assets under management as of end-March, and its parent Ares Management Corporation had $149 billion of assets.