Ares-EIF Acquires 50% Stake in Linden Cogen Facility

Ares Management, L.P.

announced today that funds managed by the Ares-EIF Group have closed on the acquisition of a 50% stake in Linden Cogen Holdings, LLC, the owner of a 943-MW natural gas-fired combined-cycle cogeneration project, located in Linden, New Jersey, from a subsidiary of GE Energy Financial Services. Terms of the transaction were not disclosed. In addition to being connected to the PJM power market, Linden Cogen is a critical supplier of power to New York City and is also a long-term steam and electricity supplier to New Jersey's Bayway Refinery, the largest oil refinery on the East Coast. "This acquisition marks the addition of a flagship asset to the Ares