Funds managed by Ares Management Corp.’s Alternative Credit strategy have led a £755 million ($970 million) preferred equity commitment in Quintain, a development and asset management company which owns and manages the 85-acre Wembley Park estate in London.
Quintain is owned by funds managed by Lone Star Funds, which will be contributing £337 million ($433 million) to the preferred equity instrument.
With more than £2.8 billion ($3.6 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.
“Lone Star
