Ares Management LP (NYSE: ARES) is buying a majority stake in real estate developer London Square for about £110 million (U.S. $188.7 million).

London Square is a London-based residential real estate developer and home builder. The group's projects include luxury townhouses in Fulham and a development in Wimbledon. The company is being sold by U.K. private equity firm Graphite Capital, which invested about $85 million.

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