GIBS will be led by Chairman and CEO Grant McCullagh, who brings more than 30 years of executive and operating E&C experience in the global infrastructure sector. Mark Calzolano will serve as Senior Vice President of Corporate Finance and Business Development.

"We see a significant opportunity in investing in leading E&C firms to help them strengthen their business, and are encouraged by the growing demand for new and replacement infrastructure projects worldwide," Mr. McCullagh said.

The GIBS team will focus its strategy on investing in market-leading firms in the transportation, water/wastewater, energy/power and environmental sectors by arranging expansion capital, facilitating strategic acquisitions and supporting management initiatives. The firm's goal is to accelerate the growth of established E&C firms in order to create the industry's next market leaders.

Mr. Calzolano added: "Despite the consolidation among E&C firms over the last decade, the industry remains highly fragmented. We are bullish on our platform at this time, when scale, geographic reach, and depth of both capabilities and resources is ever more critical for long-term success in this highly competitive sector."

Mr. McCullagh formerly served as Vice Chairman and Executive Vice President of AECOM Technology Corporation, a global E&C leader, and prior served as co-Founder, Chairman and CEO of McClier Corporation, a leading E&C firm that he later sold to AECOM. Mr. McCullagh has an extensive history in both the management of complex projects around the globe as well as at a strategic and operating level, having participated in the acquisition and integration of multiple operating companies.

Mr. Calzolano has over 15 years of experience in mergers and acquisitions. He was formerly a Principal at William Blair & Company where he led M&A and strategic advisory teams focused primarily on commercial and industrial service companies, including E&C and infrastructure firms.

Bob Sheh, who serves as a Senior Advisor to Ares, will also assist the new firm. Mr. Sheh is the former President of CH2M Hill International and The Ralph M. Parsons Company, and has over 30 years of experience in the consulting, engineering, construction, and operations and maintenance industries.

About GIBS

GIBS is dedicated to investing in E&C companies worldwide and expects to work with management teams to expand their infrastructure businesses both organically and through strategic acquisitions. The GIBS investment strategy is to focus on market-leading firms in the transportation, water/wastewater, energy/power and environmental sectors. For more information about GIBS, visit our website at www.gibscorp.com

About Ares Management LLC

Ares Management is an SEC-registered investment adviser and alternative asset manager with total committed capital under management of approximately $30 billion as of September 30, 2009. The firm is headquartered in Los Angeles with approximately 250 employees and professionals located across the United States and Europe. For more information, visit the Ares website at www.aresmgmt.com.

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