• Establishes a continuation fund (Fund 9) to acquire OBL's co-investment in 150+ investments
• Ares acquires 70% of Fund 9 for c.A$310m, delivering a c.3.2x day-1 cash MOIC for OBL
• Transaction validates OBL's fair value framework and reduces debt to zero

Omni Bridgeway Limited (OBL) has announced a secondary market transaction with Ares Management Corporation (Ares) to establish a continuation fund (Fund 9) that will acquire OBL's co-investment in 150+ investments across Funds 2/3, Funds 4/5 Series I, and one remaining balance sheet investment. Ares will acquire a 70% interest in Fund 9 for an upfront cash consideration of c.A$310m, representing a c.80% fair value conversion rate. OBL will retain a 30% interest in Fund 9. The upfront proceeds received by OBL represent a multiple on invested capital (MOIC) of c.3.2x on the aggregated OBL-only deployments to-date on the Fund 9 Assets. Ares will receive a preferred return on its 70% interest in Fund 9, while OBL will retain further profit rights on the whole portfolio through its 30% interest. OBL will continue to be the adviser to Fund 9 and manage the Fund 9 Assets. The transaction delivers on OBL's strategic objectives by validating the fair value of its book, improving cost coverage, reducing debt to zero, and affirming its position as the leading institutional-grade funds management platform for legal assets.