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Ares invests in Softbank's U.S. renewables unit SB Energy

SB Energy Global LLC, the U.S. renewables platform for SoftBank Group, said Monday that Ares Management Corp. ARES, -3.56% is leading an equity investment in the business of up to $600 million. The investment will include commitments from co-investors. Ares Management said it will tap capital from its Infrastructure and Power strategy. SoftBank Group International CEO Michel Combes is leading the deal, along with SB Energy co-CEO Rich Hossfeld, Andrew Pike, partner and co-head of Ares Infrastructure and Power and Mike Roth, partner in Ares Infrastructure and Power. SB Energy launched in the U.S. market in 2019. It plans to have 10 gigawatts of renewable energy and storage in operation or under construction by the end of 2025. Shares of Ares Management are down 8.1% so far in 2022, compared to a dip of 9.2% by the S&P 500.


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