Ranger Direct selects Ares Management as preferred new investment manager

Writer, Stock Market Wire
Tuesday, May 1, 2018 - 13:47

Ranger Director Lending Fund said it had selected Ares Management to be its new investment manager.

Ares was chosen from 20 firms, which were whittled down to a shortlist of six, the fund said.

The change in management arrangement would be subject to a shareholder vote, indicating that Ranger Direct had bowed to pressure from investor Oaktree Capital for a vote to be held.

'As soon as possible hereafter a circular will be despatched to shareholders setting out the details of the proposed management arrangements and investment policy and calling a general meeting of RDL to vote on these matters,' the company said.

'The vote can be passed on a simple majority of shares voted.'

At 1:47pm: (LON:RDL) Ranger Direct Lending Fund Plc share price was -9p at 792p

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