Ares Management has completed its first private equity deal in Australia with the acquisition of a majority stake in Redback Boots, valuing the work footwear manufacturer at more than A$100m ($66.4m), Bloomberg reports. 

The transaction marks a strategic expansion for Ares, which has built a sizeable presence in Australia through private credit, infrastructure debt, and asset-based finance. The firm is now moving beyond lending to build a broader private markets platform. Earlier this year, Ares hired Nicholas Onie from Bain Capital to lead its new private equity strategy in the region.

Founded in Sydney, Redback Boots produces work footwear for defence personnel and international distributors. Ares’ investment will support production growth beyond the company’s current 650,000 pairs a year. The deal is expected to close in the first quarter of 2026, subject to customary conditions.

Ares manages around $596bn globally, including $25.1bn in private equity. The Redback Boots investment signals its intention to deploy more capital in Australia as private equity activity strengthens across the country’s lower mid-market.

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