Under the terms of the deal, which was announced in July, Ares would have paid Kayne Anderson $2.55 billion in stock and cash and would have left the combined entity with over $110 billion in assets under management.
New York-listed Ares and privately held Kayne Anderson have significant investments in oil and gas and the pair had hoped the combination would help them compete as more and more firms look to invest money into both equity and debt issued by oil and gas players.
But
