Ares Management Folds $3.7B GLP Funds Business Into New Marq Brand

Ares Management on Monday announced the consolidation of its global logistics real estate platforms, including GLP’s ex-China funds business, into a newly launched brand called Marq Logistics.

Marq combines the Ares logistics real estate platform in North America and Europe, including Ares Industrial Management, with GLP Capital Partners International, which the US fund manager acquired in March for $3.7 billion.

By managing a portfolio of 2,000 properties totalling more than 600 million square feet (55.7 million square metres) across the Americas, Europe and Asia Pacific, Marq enables Ares to combine its scale, expertise and integrated logistics capabilities, the Los Angeles-based firm said in a release.

“Marq represents an exciting next chapter for the Ares Real Estate business, building on our top three global leadership position in one of our highest conviction sectors,” said Julie Solomon, co-head of Ares Real Estate. “At its core, Marq aims to deliver global scale and local operational excellence to our logistics tenants through a commitment to a simple but powerful mission — to be a strategic partner in their success.”

Platform Evolves

The acquisition of GCP International by Ares earlier this year marked the funds arm’s separation from GCP’s remaining business, which continues to operate independently under CEO Ming Z Mei with a focus on investing in Greater China.

The transaction saw Michael Steele, previously president of GCP International, become a partner in the real assets group at Ares and colleagues across GCP International’s global team join Ares Real Estate, co-led by Solomon and Bill Benjamin.

GLP established its fund management arm in 2011 and scaled the business to $125 billion in assets under management as of 2024. The GCP International business acquired by Ares encompasses $42 billion of this AUM, covering Japan, Europe, the US, Brazil and Vietnam.

At the end of September, Ares managed more than $595 billion in assets globally, including $110 billion under Ares Real Estate.

Data Centre Drive

In June, Ares announced the final closing of a Japan data centre fund with total equity commitments of $2.4 billion, including $1.3 billion contributed by the Canada Pension Plan Investment Board.

Japan DC Partners I is the US firm’s first-ever vehicle dedicated to data centre investment and development. GLP is also invested in the vehicle, while Toronto-based CPPIB is a longtime institutional partner in GLP’s Japan ventures.

JDC I will support development of three campuses in Greater Tokyo to be operated by Ada Infrastructure, a global data centre platform acquired by Ares in the GLP deal.

Ares told investors in September that it was aiming for more than $8 billion in equity fundraising to back data centres in London, Japan and Brazil, though the firm has since voiced concerns about the flood of capital pouring into AI infrastructure.