New York, N.Y. (June 30, 2021) – Proskauer, a leading international law firm, today announced that it advised funds managed by the Credit Group of Ares Management Corporation in connection with their acquisition of a 33.96% interest in Atlético HoldCo, S.L., which owns a 65.98% stake in Club Atlético de Madrid. Atlético Madrid is the current champion of the Primera División of La Liga, having won its eleventh league title in May 2021.

Mark Affolter, partner and co-head of U.S. Direct Lending at Ares, will join Atlético HoldCo's board of directors.

Ares Management Corporation is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. 

“Ares is pleased to make this strategic investment in Atlético de Madrid given its international brand equity, loyal fan base and resilience through the COVID-19 pandemic,” Affolter and Ares partner Jim Miller said in a statement. “As the world begins to reopen and with the support of Ares’ flexible capital, we believe Atlético de Madrid is well-positioned to capitalize on growth in content demand and opportunities for expansion.”

The Proskauer team advising Ares was led by Justin Breen, partner and head of Proskauer’s Leveraged Finance Group, and Sports Law partner Jon Oram, and included partner Rob Day (Mergers & Acquisitions), partner Martin Hamilton and associate Yomarie (Jo) Habenicht (Tax), partner Peter Sherwin (Litigation) and associate Al Lucia (Private Credit).

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