Ares Management LP (NYSE: ARES) and Kayne Anderson Capital Advisors LP have terminated their merger agreement, saying that the companies had different views about the merger because of the state of the energy market, which has remained volatile since the deal was announced in July.

"While we continue to strongly believe in Kayne and the long-term energy investment opportunity, it became clear this was not the right time to bring together our cultures and business models into a merged public company," says Ares CEO Tony Ressler.

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