Former Black Creek Exec Resigns From Ares Management Less Than 2 Years After Acquisition

One Ares Management Corp. executive — formerly of real estate investment management firm Black Creek Group, who moved over to Ares following its purchase of Black Creek — has resigned.

Evan Zucker was a partner and the chair of industrial real estate at LA-based Ares, as well as a member of the board of directors. He had been a principal and managing partner at Black Creek Group, which he also co-founded.

Ares completed its acquisition of Denver-based Black Creek in July 2021. Zucker "successfully transitioned the Black Creek Group business sold to Ares in 2021, [and] he is leaving to pursue other opportunities," a filing with the Securities and Exchange Commission said. Zucker tendered his resignation on Feb. 10. He will also leave his spot on the board of directors. 

Ares partner Rajat Dhanda has stepped down from his role as co-president at two Ares nontraded REITs, AREIT and AI REIT, but will remain both the global head of wealth for Ares and a member of its board of directors, filings for the REITs show. Ares' website, which no longer features a live page for Zucker, still lists Dhanda with his global title. Dhanda was the CEO at Black Creek Group when Ares acquired it in 2021. 

Ares' purchase of Black Creek Group two years ago increased Ares' assets under management to roughly $239B, according to a release announcing the completion of the sale. It also gave Ares a notable boost in terms of its industrial real estate holdings. 

Ares just signed a more than 200K SF lease at Anderson Real Estate's Anderson Towers in Century City. It will move in in the summer of 2024.