Makarora Completes $2.1 Billion Acquisition of Plymouth Industrial REIT
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 27 2026
0mins
Source: Globenewswire
- Acquisition Completed: Makarora Management LP, together with Ares Alternative Credit funds, has completed the acquisition of Plymouth Industrial REIT, Inc. for approximately $2.1 billion, marking a significant expansion in the real estate investment sector.
- Shareholder Cash Return: Under the terms of the transaction, Plymouth shareholders will receive $22.00 per share in cash, providing a substantial return that enhances investor confidence in the deal.
- Advisors Involved: KeyBanc Capital Markets and J.P. Morgan acted as financial advisors for Plymouth, while Moelis & Company served as the lead financial advisor for Makarora, ensuring a smooth transaction process.
- Market Impact: The acquisition results in Plymouth no longer being listed on any public securities exchange, reflecting Makarora's strategic decision to consolidate and optimize its investment portfolio, which is expected to enhance its competitive position in the market.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy ARES?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on ARES
Wall Street analysts forecast ARES stock price to rise
10 Analyst Rating
8 Buy
2 Hold
0 Sell
Strong Buy
Current: 132.820
Low
155.00
Averages
191.40
High
223.00
Current: 132.820
Low
155.00
Averages
191.40
High
223.00
About ARES
Ares Management Corporation is an alternative investment manager offering clients complementary primary and secondary investment solutions across various asset classes. Its segments include Credit Group, Private Equity Group, Real Assets Group, Secondaries Group, and Other. The Credit Group segment manages credit strategies across the liquid and illiquid spectrum, including liquid credit, alternative credit, direct lending and APAC credit. The Private Equity Group segment categorizes its investment strategies as corporate private equity, special opportunities and APAC private equity. The Real Assets Group segment manages comprehensive equity and debt strategies across real estate and infrastructure investments. The Secondaries Group segment invests in secondary markets across a range of alternative asset class strategies, including private equity, real estate, infrastructure and credit. It has operations across North America, South America, Europe, Asia Pacific and the Middle East.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Private Markets Face Liquidity Crunch Amid Weaker Incomes
- Liquidity Crisis: Bain & Co's report indicates that the private equity sector is facing a prolonged 'liquidity crunch', resulting in many companies being stuck in portfolios, which adversely affects fundraising and exit strategies.
- Investor Relationship Consolidation: Nicolas Brugere, a partner at Swedish buyout firm EQT, noted that limited partners want to see money returning for reinvestment, leading to industry concentration where investors prefer fewer relationships and value scale.
- Slowing Capital Inflows: Matt Theodorakis from Ares Management highlighted a slowdown in capital inflows over the past three to six months, with the trend of reduced distributions impacting various markets from buyouts to credit.
- Declining Dividend Coverage: A Reuters analysis revealed that dividend coverage among U.S.-listed private credit lenders fell to 0.99 times in Q1 2026, indicating that reported net investment income no longer fully covers regular and supplemental payouts, raising risks for investors attracted to high yields.
See More
SpaceX Set for Historic IPO Launch Today
- Historic IPO: SpaceX is set to debut on Nasdaq today with a share price of $135, raising $75 billion and achieving a valuation of $1.77 trillion, making it the seventh most valuable U.S. company and positioning Elon Musk to become the world's first trillionaire.
- Investor Gains: Early investors like Ron Baron, Cathie Wood's Ark Invest, and Fidelity Investments are expected to benefit significantly from this IPO, reflecting strong market confidence and potential returns on investment in SpaceX.
- Reduced Retail Allocation: Although SpaceX is allocating a smaller-than-expected portion to retail investors, it still ranks among the largest retail allocations for a U.S. IPO of this size, indicating strong institutional demand and fierce competition for shares.
- Positive Market Reaction: Ahead of the IPO, Wall Street stock futures are up, buoyed by President Trump's significant policy shift on Iran, which has created an optimistic market sentiment, suggesting that SpaceX's IPO could trigger a broader investment frenzy.
See More
European Central Bank Set to Hike Rates Amid Inflation Surge
- Rate Hike Anticipation: The European Central Bank is expected to raise rates by 25 basis points today, marking its first hike in nearly three years, primarily driven by rising inflation due to increased energy costs from the ongoing war in Iran.
- Inflation Metrics: Headline inflation in the eurozone rose to 3.2% in April, while core inflation increased to 2.5%, indicating that rising service costs could be early signs of second-round inflation effects.
- Middle East Tensions: Escalating tensions in the Middle East are driving oil prices higher, despite U.S. President Trump's claims of moving over 100 million barrels of oil through the Strait of Hormuz to mitigate supply issues.
- Acquisition Bid: British retail group Frasers has launched a €2 billion takeover bid for German luxury brand Hugo Boss, offering €38 per share, which represents a 4% premium over Hugo Boss's last closing price.
See More
US Inflation Hits Three-Year High Amid Geopolitical Tensions
- Rising Inflation: The US consumer price index rose to an annual rate of 4.2% in May, with Trump expressing optimism that prices will drop sharply once the conflict with Iran concludes, reflecting a potentially misleading confidence in economic stability amidst rising costs.
- Geopolitical Tensions: US airstrikes on Iran have escalated tensions in the Strait of Hormuz, driving oil prices higher, with July crude futures increasing by 2.94% to $92.68 per barrel and Brent futures rising by 2.52% to $95.45, indicating market sensitivity to energy price fluctuations.
- Market Volatility: Amid rising inflation and energy prices, Wall Street faced significant declines on Wednesday, with the Dow dropping over 900 points, highlighting investor concerns about future economic prospects, particularly as chip stocks experienced substantial sell-offs.
- Meta's Investment in India: Meta has agreed to lease an AI-enabled data center with a capacity of 168 megawatts from Reliance Industries in India, expected to be delivered within two years, which will enhance Meta's global AI infrastructure and demonstrate its long-term commitment to the Indian market.
See More
Private Credit Fuels Insurance Companies' Growth
- Insurance Demand: Ares CEO Michael Arougheti highlighted at the Morgan Stanley US Financials conference that insurance companies rely on private credit to meet policyholder return objectives, indicating a strong dependence on private capital within the industry.
- Growth in Private Credit: According to AM Best, U.S. life and annuity insurers' private credit holdings have more than doubled over the past decade, reflecting the industry's proactive approach to seeking yield sources amid a historically low interest rate environment.
- Regulatory Focus: U.S. Treasury Secretary Scott Bessent is consulting with state insurance commissioners to enhance oversight, demonstrating regulators' commitment to ensuring transparency and lending discipline as the insurance sector increasingly engages in private market investments.
- Increased Transparency: Arougheti emphasized that while regulation may pose challenges, it also fosters greater transparency in the insurance industry's private market investments, ensuring clarity in structures and performance, which ultimately boosts investor confidence.
See More
Private Credit Faces AI Challenges Amid SaaSpocalypse
- Market Dynamics Shift: Ares co-president Blair Jacobsen noted that AI's impact is causing a bifurcation among software companies, with a rebound of 21% in software stocks in May after February's tech sell-off, indicating a recovering market confidence in the software sector.
- Identifying Investment Opportunities: Ares has invested in software for over 15 years, focusing on companies providing mission-critical services, particularly in regulated industries where the cost of failure is high, thus offering a protective layer for robust software businesses despite AI disruptions.
- Changes in Credit Market: Kevin Marchetti from Man Group stated that private credit exposure in the software sector has grown to 20%-30% over the past five years, with AI's rise testing the software credit thesis, tightening credit conditions, and lowering loan-to-value ratios, creating an attractive dynamic for investors.
- Industry Outlook: HarbourVest Partners CEO John Toomey believes the software sector is in the early stages of AI adoption, where some companies face significant challenges, while others can adapt and leverage AI opportunities to enhance efficiency and productivity, leading to a K-shaped outcome.
See More
Private Markets Face Liquidity Crunch Amid Weaker Incomes
- Liquidity Crisis: Bain & Co's report indicates that the private equity sector is facing a prolonged 'liquidity crunch', resulting in many companies being stuck in portfolios, which adversely affects fundraising and exit strategies.
- Investor Relationship Consolidation: Nicolas Brugere, a partner at Swedish buyout firm EQT, noted that limited partners want to see money returning for reinvestment, leading to industry concentration where investors prefer fewer relationships and value scale.
- Slowing Capital Inflows: Matt Theodorakis from Ares Management highlighted a slowdown in capital inflows over the past three to six months, with the trend of reduced distributions impacting various markets from buyouts to credit.
- Declining Dividend Coverage: A Reuters analysis revealed that dividend coverage among U.S.-listed private credit lenders fell to 0.99 times in Q1 2026, indicating that reported net investment income no longer fully covers regular and supplemental payouts, raising risks for investors attracted to high yields.
See More
SpaceX Set for Historic IPO Launch Today
- Historic IPO: SpaceX is set to debut on Nasdaq today with a share price of $135, raising $75 billion and achieving a valuation of $1.77 trillion, making it the seventh most valuable U.S. company and positioning Elon Musk to become the world's first trillionaire.
- Investor Gains: Early investors like Ron Baron, Cathie Wood's Ark Invest, and Fidelity Investments are expected to benefit significantly from this IPO, reflecting strong market confidence and potential returns on investment in SpaceX.
- Reduced Retail Allocation: Although SpaceX is allocating a smaller-than-expected portion to retail investors, it still ranks among the largest retail allocations for a U.S. IPO of this size, indicating strong institutional demand and fierce competition for shares.
- Positive Market Reaction: Ahead of the IPO, Wall Street stock futures are up, buoyed by President Trump's significant policy shift on Iran, which has created an optimistic market sentiment, suggesting that SpaceX's IPO could trigger a broader investment frenzy.
See More
European Central Bank Set to Hike Rates Amid Inflation Surge
- Rate Hike Anticipation: The European Central Bank is expected to raise rates by 25 basis points today, marking its first hike in nearly three years, primarily driven by rising inflation due to increased energy costs from the ongoing war in Iran.
- Inflation Metrics: Headline inflation in the eurozone rose to 3.2% in April, while core inflation increased to 2.5%, indicating that rising service costs could be early signs of second-round inflation effects.
- Middle East Tensions: Escalating tensions in the Middle East are driving oil prices higher, despite U.S. President Trump's claims of moving over 100 million barrels of oil through the Strait of Hormuz to mitigate supply issues.
- Acquisition Bid: British retail group Frasers has launched a €2 billion takeover bid for German luxury brand Hugo Boss, offering €38 per share, which represents a 4% premium over Hugo Boss's last closing price.
See More
US Inflation Hits Three-Year High Amid Geopolitical Tensions
- Rising Inflation: The US consumer price index rose to an annual rate of 4.2% in May, with Trump expressing optimism that prices will drop sharply once the conflict with Iran concludes, reflecting a potentially misleading confidence in economic stability amidst rising costs.
- Geopolitical Tensions: US airstrikes on Iran have escalated tensions in the Strait of Hormuz, driving oil prices higher, with July crude futures increasing by 2.94% to $92.68 per barrel and Brent futures rising by 2.52% to $95.45, indicating market sensitivity to energy price fluctuations.
- Market Volatility: Amid rising inflation and energy prices, Wall Street faced significant declines on Wednesday, with the Dow dropping over 900 points, highlighting investor concerns about future economic prospects, particularly as chip stocks experienced substantial sell-offs.
- Meta's Investment in India: Meta has agreed to lease an AI-enabled data center with a capacity of 168 megawatts from Reliance Industries in India, expected to be delivered within two years, which will enhance Meta's global AI infrastructure and demonstrate its long-term commitment to the Indian market.
See More
Private Credit Fuels Insurance Companies' Growth
- Insurance Demand: Ares CEO Michael Arougheti highlighted at the Morgan Stanley US Financials conference that insurance companies rely on private credit to meet policyholder return objectives, indicating a strong dependence on private capital within the industry.
- Growth in Private Credit: According to AM Best, U.S. life and annuity insurers' private credit holdings have more than doubled over the past decade, reflecting the industry's proactive approach to seeking yield sources amid a historically low interest rate environment.
- Regulatory Focus: U.S. Treasury Secretary Scott Bessent is consulting with state insurance commissioners to enhance oversight, demonstrating regulators' commitment to ensuring transparency and lending discipline as the insurance sector increasingly engages in private market investments.
- Increased Transparency: Arougheti emphasized that while regulation may pose challenges, it also fosters greater transparency in the insurance industry's private market investments, ensuring clarity in structures and performance, which ultimately boosts investor confidence.
See More
Private Credit Faces AI Challenges Amid SaaSpocalypse
- Market Dynamics Shift: Ares co-president Blair Jacobsen noted that AI's impact is causing a bifurcation among software companies, with a rebound of 21% in software stocks in May after February's tech sell-off, indicating a recovering market confidence in the software sector.
- Identifying Investment Opportunities: Ares has invested in software for over 15 years, focusing on companies providing mission-critical services, particularly in regulated industries where the cost of failure is high, thus offering a protective layer for robust software businesses despite AI disruptions.
- Changes in Credit Market: Kevin Marchetti from Man Group stated that private credit exposure in the software sector has grown to 20%-30% over the past five years, with AI's rise testing the software credit thesis, tightening credit conditions, and lowering loan-to-value ratios, creating an attractive dynamic for investors.
- Industry Outlook: HarbourVest Partners CEO John Toomey believes the software sector is in the early stages of AI adoption, where some companies face significant challenges, while others can adapt and leverage AI opportunities to enhance efficiency and productivity, leading to a K-shaped outcome.
See More
