NEW YORK (S&P Global Ratings) Oct. 1, 2020--S&P Global Ratings said today that the announced acquisition of F&G Reinsurance Ltd (F&G), a life and annuity reinsurer, by Aspida Holdings Ltd., an indirect subsidiary of Ares Management Corp. (BBB+/Stable/--) will likely support further Ares' growth in the insurance sector. Through this acquisition, set to close in fourth-quarter 2020, we expect Ares to add another $2 billion of assets under management (AUM) to the already $16 billion of AUM that the company managed on behalf of insurance clients as of June 30, 2020. This is also in line with the recent acquisition trend we have been seeing of alternative asset managers trying to tap into insurance related AUM. While the terms of
