Ares Management Finalizes Investment in Plenitude

11/05/2025 – 05:32 AM

LONDON & MILAN– Ares Management Corporation (NYSE: ARES), a prominent player in the global alternative investment arena, announced today the completion of a significant strategic move. Ares Alternative Credit funds, along with other affiliated Ares funds, have acquired a 20% stake in Plenitude, Eni’s energy transition arm, for €2 billion. This investment values Plenitude at an enterprise value exceeding €12 billion, signaling a strong validation of Plenitude’s business model and growth trajectory.

This transaction underscores the growing investor appetite for companies positioned at the forefront of the energy transition. Plenitude, with its integrated business model spanning renewable energy generation, energy sales, and EV charging infrastructure, presents a compelling case for investment. The significant enterprise value attached to the deal further highlights the perceived potential of Plenitude in the evolving energy landscape.

“This closing underscores the Ares platform’s ability to deliver flexible capital at scale to high-quality, asset-focused businesses. We are excited to support Eni and Plenitude in their next phase of growth,” said Joel Holsinger, Partner and Co-Head of Alternative Credit at Ares. This highlights Ares’ perceived expertise in identifying and investing in companies with strong asset bases and high-growth potential, further validating Plenitude’s position in the market.

Stefano Goberti, CEO of Plenitude, framed the investment as evidence of Plenitude’s strong performance and business model: “Today, Ares officially joins Plenitude’s shareholder base, alongside Eni and Energy Infrastructure Partners. The arrival of a new investor further confirms the appeal of our distinctive business model and highlights the value we have built over time. We are confident that, together, we will continue to pursue our shared growth path with determination.”

Plenitude’s operations extend across 15 countries, where it integrates electricity generation (currently 4.8 GW from renewable sources) with energy sales and related solutions throughout Europe. Serving 10 million customers and operating a network exceeding 22,000 public EV charging points, Plenitude is strategically positioned to capitalize on the burgeoning demand for clean energy solutions. The company aims to scale its renewable capacity to 10 GW globally by 2028, a target that will potentially require significant capital investment and strategic partnerships.

Ares’ investment aligns with its broader strategy of deploying capital in sectors driven by long-term secular trends. The energy transition, fueled by both regulatory pressures and consumer demand, represents a significant global investment opportunity. Ares’ deployment of over €4 billion in Italian businesses and assets over the past two decades, which it plans to accelerate following the opening of its Milan office, shows its ongoing european expansion.

The Ares Alternative Credit strategy manages approximately $46.7 billion in assets (as of September 30, 2025), investing across the capital structure in diverse portfolios. Furthermore, by committing a portion of the performance fees from the Pathfinder family of funds to global health and education charities, Ares appears to be linking its financial activities with wider social impact objectives, a tactic increasingly utilized by large investment firms to attract capital and align with investor values.

Ares Management Corporation (NYSE: ARES) manages over $596 billion of assets (as of September 30, 2025), with operations across North America, South America, Europe, Asia Pacific and the Middle East. The investment in Plenitude exemplifies Ares’ approach to deploying capital in strategic sectors and partnering with established players to capitalize on growth opportunities.