New York asset manager Ares Management LP (NYSE: ARES) has purchased Energy Investors Funds for an undisclosed amount.

Energy Investors, headquartered in Boston, is an asset manager for the energy infrastructure industry. The group has about $4 billion in assets under management across four comingled funds and related co-investment vehicles.

“The energy sector is an area of increasing importance across our business given the large, growing and contractual nature of the asset class and the differentiated risk-adjusted returns,” says Michael Arougheti, president of Ares Management.

Proskauer Rose LLP was Ares' legal counsel, and Latham & Watkins LLP acted as regulatory adviser. Morgan Lewis & Bockius LLP advised Energy Investors on the deal.

Ares has made several acquisitions since going public in May. In June, the group bought Keltic Financial Services LLC, a provider of asset-based loans. In July, funds managed by Ares picked up a majority stake in real estate developer London Square for about $189 million. Also in July, funds managed by the firm bought a Brussels-based business park for $113 million. 

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