LONDON & MILAN – Global alternative investment giant Ares Management Corporation (NYSE: ARES) is making a significant bet on the future of energy transition in Europe. The firm announced today that its Alternative Credit funds have inked a deal to acquire a 20% stake in Plenitude, a leader in energy transition controlled by Eni, for roughly €2 billion. The transaction values Plenitude at an impressive €12 billion, signaling strong confidence in the company’s growth trajectory. The deal awaits customary regulatory approvals.
Plenitude, operating across 15 countries, has built a compelling business model. The company currently boasts over 4 GW of renewable energy production capacity alongside retail and energy solutions arms. Serving over 10 million customers, Plenitude’s network includes 21,500 electric vehicle charging points, positioning it firmly in the burgeoning EV market.
“This investment highlights the strength of the Ares platform,” noted Joel Holsinger, Partner and Co-Head of Alternative Credit at Ares. “Our expertise across diverse business lines, including asset-based finance and renewables infrastructure, enables us to deploy capital flexibly and at scale. We are excited to support Plenitude as it executes its growth strategy, which focuses on long-term profitability and positive community impact.”
Stefano Questa, Partner and Co-Head of European Alternative Credit, echoed this sentiment, stating, “Plenitude is a well-established leader in the energy transition, with a distinct business model and a solid track record. We are thrilled to be a part of its next chapter of expansion.”
Stefano Goberti, CEO of Plenitude, welcomed Ares as a new shareholder, saying, “I am pleased to welcome Ares, one of the world’s leading investment funds, as a new shareholder in Plenitude. The deal is a further endorsement of the quality of our strategic approach, which combines economic and environmental sustainability in an integrated business model projected on the future of the energy sector. Ares, with its entry into the company, highlights the progression of Plenitude’s value and becomes part of our growth journey, which we pursue with determination and conviction day after day.”
The Ares Alternative Credit strategy is a major player in asset-based finance, with approximately $42.9 billion in assets under management as of March 31, 2025. The group seeks opportunities across diverse sectors, from specialty finance to structured products, providing financing solutions throughout the capital structure. Demonstrating a commitment to social responsibility, Ares and its Alternative Credit portfolio managers are donating a portion of performance fees from the Pathfinder funds to support global health and education charities.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager providing a broad range of investment solutions across credit, real estate, private equity, and infrastructure. Ares aims to fuel business growth and generate value both for its stakeholders and the communities in which it operates. As of March 31, 2025, Ares Management Corporation’s global platform had approximately $546 billion of assets under management, with operations spanning North America, South America, Europe, Asia Pacific and the Middle East. For more information, visit www.aresmgmt.com.
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Source: Ares Management Corporation
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