Ares Management to merge with Kayne Anderson

Ares Management is merging with Kayne Anderson Capital Advisors to form Ares Kayne Management, according to a statement from the firms. The combined firm will become one of the largest and most diversified asset managers with a total of $113 million of assets under management. The deal is expected to close around Jan. 1, 2016.

Mergers have been big this year with several large companies making big deals. One of the largest was The Blackstone Group and Wells Fargo & Co. acquiring the real estate assets of GE Capital.

Earlier this month, Forum Partners acquired The Dermot Co., a multifamily investment, management and development company in New York City.

Ares Management is currently a leading global alternative asset manager with $87 billion in assets under management, while