Ares Management Corp. Acquires 20% Stake in Eni’s Plenitude for €2 Billion
In a significant move within the energy transition sector, Ares Management Corporation, a leading global alternative investment manager, has announced the acquisition of a 20% stake in Plenitude, a company at the forefront of energy transition and controlled by Eni. This transaction, valued at approximately €2 billion, underscores Ares Management’s strategic expansion into renewable energy markets.
Strategic Expansion into Renewable Energy
Ares Management, listed on the New York Stock Exchange with a market capitalization of $35.97 billion, is renowned for its expertise in tradable credit, direct lending, private equity, and real estate markets. The acquisition of a minority stake in Plenitude aligns with Ares Management’s broader strategy to diversify its investment portfolio and capitalize on the growing demand for sustainable energy solutions.
Plenitude, an established leader in energy transition, operates in over 15 countries and integrates renewable energy generation, retail services for households and businesses, and electric vehicle charging infrastructure. This acquisition not only enhances Ares Management’s footprint in the renewable energy sector but also complements its existing investment strategies by tapping into the burgeoning market for sustainable energy solutions.
Financial Implications and Market Reaction
The transaction implies an enterprise value for Plenitude of over €12 billion, reflecting the company’s robust market position and growth potential. Ares Management’s investment is part of Eni’s long-term strategy to partner with other entities to jointly develop its businesses, following a previous sale of a 10% stake in Plenitude to Swiss investment fund Energy Infrastructure Partners.
Ares Management’s stock, which closed at $165.76 on June 19, 2025, has experienced fluctuations over the past year, with a 52-week high of $200.485 and a low of $110.63. The company’s price-to-earnings ratio stands at 214.978, indicating investor expectations of future growth.
Regulatory Approvals and Future Prospects
The completion of the transaction is subject to customary regulatory approvals. Once finalized, this partnership is expected to bolster Plenitude’s strategic initiatives and further solidify its leadership in the energy transition space. Stefano Goberti, CEO of Plenitude, expressed confidence in the deal, stating that it affirms the strength of their strategic approach and commitment to sustainable energy.
Ares Management’s acquisition of a stake in Plenitude marks a pivotal moment in the company’s journey towards integrating more sustainable and renewable energy investments into its portfolio. This move not only reflects the shifting dynamics in the global energy market but also highlights Ares Management’s proactive approach to embracing opportunities in the green economy.