Ares Strengthens Commitment to Plenitude Through €1 Billion Capital Contribution

Reorganization of Plenitude’s capital structure expands Ares’ economic and governance participation in the company

Ares Management Corporation (NYSE: ARES), a leading global investment manager, announced today that Ares Alternative Credit funds (“Ares”) participated in a reorganization of the shareholding and governance structure of Plenitude through which Ares and Eni S.p.A (“Eni”) upsized their capital contribution by approximately €1.5 billion, of which over €1 billion is attributable to Ares, based on a pre-money equity valuation of Plenitude of €10.75 billion. Following completion of the transaction, Ares holds 26.24% of Plenitude’s share capital, with Eni holding 65.03% and Energy Infrastructure Partners (“EIP”) as an 8.73% shareholder. Ares first invested in Plenitude in 2025, acquiring a 20% stake in the business for approximately €2 billion.

This transaction is geared towards strengthening Plenitude’s capital structure and introduces an enhanced governance framework that supports the company’s long-term growth ambitions. Ares and Eni will jointly control Plenitude, with Ares appointing three of Plenitude’s Board members – including Stefano Questa as Chairman – and Eni appointing five, including the CEO, and EIP one.

“Our continued commitment to Plenitude underscores our conviction in its long-term growth ambitions,” said Stefano Questa, Partner and Co-Head of European Alternative Credit. “We are also pleased to strengthen our collaboration with Eni and look forward to continuing to work together as we support Plenitude.”

Ares Alternative Credit focuses on asset-based finance and tactical asset investing opportunities beyond traditional markets, such as corporate debt, real estate and private equity. This strategy seeks opportunities in large, diversified portfolios, including specialty finance, lender finance, equipment leasing, structured products, net lease, cash-flow streams – such as royalties, licensing, and management fees – and other asset-focused investments. As of June 30, 2026, Ares Alternative Credit managed assets of approximately $57 billion.

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders’ long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2026, Ares Management Corporation’s global platform had over $671 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.ares.com.

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