Omni Bridgeway and Ares Management complete landmark secondary market transaction for legal assets, valued at A$320 million
Ares Management (NYSE: ARES) and Omni Bridgeway have completed a major secondary market transaction through the establishment of Omni Bridgeway Fund 9. Ares acquired a 70% interest in the fund for A$320 million, which includes a portfolio of over 150 legal assets.
The landmark deal resulted in a day-1 cash multiple exceeding 3x for Omni Bridgeway and enabled the company to fully deleverage its balance sheet while securing significant working capital. As part of the transaction, Ares also received equity warrants in Omni Bridgeway.
This transaction represents the first continuation fund and one of the largest secondary market deals in the legal finance industry, highlighting growing institutional investor interest in legal assets due to their attractive, asymmetrical, and uncorrelated return profile. The deal involved extensive due diligence on Omni Bridgeway's asset management operations and fair value methodology.
Ares Management (NYSE: ARES) e Omni Bridgeway hanno completato una importante operazione sul mercato secondario attraverso la creazione di Omni Bridgeway Fund 9. Ares ha acquisito una partecipazione del 70% nel fondo per 320 milioni di dollari australiani, che comprende un portafoglio di oltre 150 asset legali.
L'accordo storico ha generato un multiplo di cassa al giorno 1 superiore a 3x per Omni Bridgeway e ha permesso all'azienda di eliminare completamente il debito dal proprio bilancio, garantendo al contempo un capitale operativo significativo. Nell'ambito della transazione, Ares ha inoltre ricevuto warrant azionari in Omni Bridgeway.
Questa operazione rappresenta il primo fondo di continuazione e una delle più grandi transazioni sul mercato secondario nel settore della finanza legale, evidenziando il crescente interesse degli investitori istituzionali per gli asset legali grazie al loro profilo di rendimento attraente, asimmetrico e non correlato. L'accordo ha comportato una rigorosa due diligence sulle operazioni di gestione degli asset di Omni Bridgeway e sulla metodologia di valutazione del fair value.
Ares Management (NYSE: ARES) y Omni Bridgeway han completado una importante transacción en el mercado secundario mediante la creación de Omni Bridgeway Fund 9. Ares adquirió una participación del 70% en el fondo por 320 millones de dólares australianos, que incluye una cartera de más de 150 activos legales.
El acuerdo histórico generó un múltiplo de efectivo en el día 1 superior a 3x para Omni Bridgeway y permitió a la empresa eliminar completamente su deuda, asegurando al mismo tiempo un capital de trabajo significativo. Como parte de la transacción, Ares también recibió warrants de acciones en Omni Bridgeway.
Esta operación representa el primer fondo de continuación y una de las mayores transacciones en el mercado secundario dentro de la industria de financiamiento legal, destacando el creciente interés de los inversores institucionales en activos legales debido a su perfil de retorno atractivo, asimétrico y no correlacionado. La transacción implicó una exhaustiva diligencia debida sobre las operaciones de gestión de activos de Omni Bridgeway y la metodología de valoración a valor razonable.
Ares Management(NYSE: ARES)와 Omni Bridgeway는 Omni Bridgeway Fund 9 설립을 통해 주요 2차 시장 거래를 완료했습니다. Ares는 이 펀드의 70% 지분을 3억 2천만 호주 달러에 인수했으며, 이는 150개 이상의 법률 자산 포트폴리오를 포함합니다.
이 획기적인 거래는 Omni Bridgeway에 대해 1일 차 현금 배수 3배 이상을 기록했으며, 회사가 재무제표의 부채를 완전히 해소하고 상당한 운전자본을 확보할 수 있게 했습니다. 거래의 일환으로 Ares는 Omni Bridgeway의 주식 워런트도 받았습니다.
이 거래는 최초의 연속 펀드이자 법률 금융 산업에서 가장 큰 2차 시장 거래 중 하나로, 매력적이고 비대칭적이며 상관관계가 없는 수익 프로필 덕분에 법률 자산에 대한 기관 투자자의 관심이 증가하고 있음을 보여줍니다. 거래는 Omni Bridgeway의 자산 관리 운영과 공정 가치 평가 방법론에 대한 광범위한 실사를 포함했습니다.
Ares Management (NYSE : ARES) et Omni Bridgeway ont finalisé une importante transaction sur le marché secondaire via la création d’Omni Bridgeway Fund 9. Ares a acquis une participation de 70 % dans le fonds pour 320 millions de dollars australiens, comprenant un portefeuille de plus de 150 actifs juridiques.
Cette opération majeure a généré un multiple de trésorerie supérieur à 3x dès le premier jour pour Omni Bridgeway, permettant à l’entreprise de désendetter complètement son bilan tout en sécurisant un fonds de roulement significatif. Dans le cadre de la transaction, Ares a également reçu des bons de souscription d’actions d’Omni Bridgeway.
Cette opération représente le premier fonds de continuation et l’une des plus importantes transactions sur le marché secondaire dans le secteur du financement juridique, soulignant l’intérêt croissant des investisseurs institutionnels pour les actifs juridiques grâce à leur profil de rendement attractif, asymétrique et non corrélé. L’opération a impliqué une due diligence approfondie sur les opérations de gestion d’actifs d’Omni Bridgeway et sur la méthodologie d’évaluation à la juste valeur.
Ares Management (NYSE: ARES) und Omni Bridgeway haben eine bedeutende Transaktion am Sekundärmarkt durch die Gründung des Omni Bridgeway Fund 9 abgeschlossen. Ares erwarb eine 70%ige Beteiligung an dem Fonds für 320 Millionen australische Dollar, die ein Portfolio von über 150 rechtlichen Vermögenswerten umfasst.
Der bahnbrechende Deal führte zu einem Cash-Multiple von über dem Dreifachen am Tag 1 für Omni Bridgeway und ermöglichte dem Unternehmen, seine Bilanz vollständig zu entschulden und gleichzeitig bedeutendes Betriebskapital zu sichern. Im Rahmen der Transaktion erhielt Ares außerdem Aktienwarrants an Omni Bridgeway.
Diese Transaktion stellt den ersten Fortsetzungsfonds dar und ist eine der größten Sekundärmarkt-Transaktionen in der Rechtsfinanzierungsbranche, was das wachsende Interesse institutioneller Investoren an Rechtsvermögenswerten aufgrund ihres attraktiven, asymmetrischen und unkorrelierten Renditeprofils unterstreicht. Der Deal beinhaltete eine umfangreiche Due Diligence der Asset-Management-Operationen von Omni Bridgeway sowie der Fair-Value-Methodik.
- Secured A$320 million investment from Ares Management
- Achieved 3x day-1 cash multiple on invested capital
- Complete deleveraging of balance sheet
- Gained significant working capital
- External validation of fair value framework and portfolio
- Dilution of ownership with 70% fund interest transferred to Ares
- Additional potential dilution through equity warrants issued to Ares
Insights
Ares Management's A$320 million (~US$213 million) acquisition of a 70% interest in Omni Bridgeway's legal assets portfolio represents a strategic expansion into an uncorrelated alternative asset class. This transaction demonstrates Ares' capacity to deploy capital into specialized markets that institutional investors are increasingly targeting for diversification benefits.
The structure of this deal is particularly noteworthy as it establishes what's being called the first continuation fund in the legal finance industry. By acquiring interests in over 150 legal assets originated and managed by Omni Bridgeway, Ares gains exposure to a portfolio with potential for asymmetrical returns that operate independently from traditional market cycles.
Ares has also secured warrants for equity in Omni Bridgeway, providing additional upside potential beyond the direct investment returns. This multi-layered approach exemplifies Ares' sophisticated capital deployment strategy and ability to structure complex transactions that create multiple potential value streams.
While the investment represents less than 1% of Ares'
Ares has acquired a
Proceeds from the transaction have been used to fully deleverage Omni Bridgeway's balance sheet while delivering significant added working capital. In addition to the investment in Omni Bridgeway Fund 9, Ares has taken an equity interest through warrants in Omni Bridgeway as an ASX listed global fund manager for legal assets.
In the current volatile capital markets environment, the transaction highlights the increasing interest of institutional investors in legal assets given their attractive, asymmetrical and uncorrelated return profile.
The selection by Ares of Omni Bridgeway in this transaction, reflects the global scale, diversification, and long-term track record of Omni Bridgeway's portfolio and fund management platform for this specialized asset class. The transaction involved extensive due diligence by Ares and its legal and financial advisors on Omni Bridgeway's asset management operations, fair value methodology, and the resulting fair value for a significant part of the legal assets in its portfolio. The external market validation of its fair value framework and portfolio for legal assets was a core strategic objective for Omni Bridgeway.
"We are pleased to support Omni Bridgeway with this substantial transaction which underscores Ares' ability to deliver bespoke capital solutions at scale," said Jan-Paul Kobarg, Partner at Ares Management. "We look forward to working with Raymond and the Omni Bridgeway team as they build on their leadership in an asset class which we believe will be increasingly targeted by institutional investors due to its attractive, uncorrelated returns."
"We are proud to lead the field again with this innovative transaction, and we welcome Ares to our portfolio of blue-chip fund capital providers," said Raymond van Hulst, Chief Executive Officer of Omni Bridgeway. "It is the first continuation fund for legal assets and is highly significant in its scope and size as a secondary market transaction. It also showcases the value of Omni Bridgeway's institutional-grade asset management platform. It demonstrates that deep pools of institutional secondary capital are available to increase liquidity and mitigate duration risk for good quality and well managed portfolios of legal assets. Our fund investors and shareholders will benefit from the increased liquidity, allowing us to reinvest in new investment-stage funds series that further diversify and grow our portfolio."
Additional details on the structure and terms of the transaction can be found here.
ABOUT OMNI BRIDGEWAY
Omni Bridgeway is a global alternative asset manager specializing in legal assets, with approximately
ABOUT ARES
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity 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 December 31, 2024, including the acquisition of GCP International which closed on March 1, 2025, Ares Management Corporation's global platform had over
CONTACT
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SOURCE Omni Bridgeway
FAQ
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