Ares to Buy BlueCove In Systematic Credit Investing Push

Ares Management Corp. said it agreed to acquire fixed-income manager BlueCove Ltd. to expand in the fast-growing business of systematic credit investing.

Ares said in a statement seen by Bloomberg News that the acquisition of the London-based firm, which manages about $5.5 billion of assets, will be the start of a new division, called Ares Systematic Credit.

The unit will be led by Alex Khein, who along with Hugh Willis founded BlueCove in 2018. Financial terms were not disclosed.

Systematic credit investors use data-driven models to build portfolios as opposed to traditional discretionary investing which relies more on portfolio ...