Omni Bridgeway and Ares Management complete landmark secondary market transaction for legal assets, valued at A$320 million
SYDNEY, Apr. 15, 2025 /PRNewswire/ -- Omni Bridgeway (ASX: OBL) and funds managed by Ares Management Corporation (NYSE: ARES) have completed a strategic transaction establishing a continuation fund (Omni Bridgeway Fund 9). Omni Bridgeway Fund 9 purchased Omni Bridgeway’s co-investment interest across a diversified global portfolio of more than 150 legal assets, originated and managed by Omni Bridgeway.
Ares has acquired a 70% interest in Omni Bridgeway Fund 9 for a total cash investment of approximately A$320m, resulting in a day-1 cash multiple on invested capital exceeding 3x for Omni Bridgeway. This is the first continuation fund and one of the largest secondary markets transactions in both scope and size in the legal finance industry.
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 A$3.5b in cumulative capital raised across 11 funds. Listed on the ASX since 2001, and with a unique track record of 35+ years, Omni Bridgeway has pioneered the industry and consistently delivered uncorrelated returns across multiple economic cycles. With a team of 175 professionals, operating from over 20 locations in 15 countries, Omni Bridgeway is the largest and most diversified fund platform for originating and managing legal assets across all relevant jurisdictions and areas of law. www.omnibridgeway.com
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 $525 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.