Walkers advise Ares Management on £755 million partnership with Lone Star

Walkers’ Jersey team acted as Jersey counsel to Ares Management Corporation (“Ares”) on its landmark partnership with Lone Star Funds working alongside onshore counsel Latham & Watkins LLP.  

Funds managed by Ares’s Alternative Credit strategy have led a £755 million preferred equity commitment in Quintain, the development and asset management company which owns and manages the iconic 85-acre Wembley Park estate in London. Quintain is owned by funds managed by Lone Star Funds, which will be contributing £337 million to the preferred equity instrument.  

With over £2.8 billion of investment to date, Quintain has transformed the Wembley Park estate into a premier mixed-use development, with leading retail, modern office space, acres of parks and pedestrianized public realm, and around 5,000 homes. 

Led from the Walkers’ side by partner Kevin McQuillan, senior counsel Ruth Donnellan and associate Charlotte Beal also advised on the transaction.

Kevin McQuillan commented:  “It was fantastic working with the Ares and Latham teams on this significant transaction involving a high-profile piece of London real estate.”