CAL Automotive, Ares Management Enter Joint Venture To Purchase And Invest Up To $1.5B In Prime New Vehicle Leases
Portfolio Pulse from Benzinga Newsdesk
CAL Automotive and Ares Management have formed a joint venture to invest up to $1.5 billion in prime new vehicle leases. This partnership aims to leverage CAL Automotive's experience as an independent consumer auto lessor and complement its existing bank partnerships.
October 22, 2024 | 10:32 am
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Ares Management has entered a joint venture with CAL Automotive to invest up to $1.5 billion in prime new vehicle leases. This move could enhance Ares' investment portfolio and provide growth opportunities in the auto leasing sector.
The joint venture with CAL Automotive represents a significant investment opportunity for Ares Management, potentially enhancing its portfolio and providing growth in the auto leasing market. This strategic move aligns with Ares' investment goals, likely leading to positive short-term impacts on its stock.
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