Ares Management takes over funds from ID’s Northstar: sources
June 23, 2025
Ares Management Corp. has taken over three funds previously managed by Northstar Group, an Indonesian private equity firm, according to sources.
This transition follows extensive discussions and due diligence by Ares, which manages US$546 billion in assets globally.
Around 20 staff members from Northstar, including investment professionals, will move to Ares. However, co-founders Patrick Walujo and Glenn Sugita will not be joining the Los Angeles-based firm.
The transfer occurs amid Northstar’s involvement in eFishery, an aquaculture startup that recently went into liquidation due to fraud allegations.