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Los Angeles-based Ares Management LLC, through its Private Equity Group, has closed on a significant investment in Salt Lake City-based CHG Healthcare Services. This investment supports approximately 820 Utah-based jobs.
“We view Utah as a great place to do business,” said Bennett Rosenthal, senior partner at Ares Management. “We are happy to be partnered with the Utah Fund of Funds, and now very pleased to have CHG as part of our investment portfolio.”
In 2009 the Utah Fund of Funds made a $5 million commitment to Ares Corporate Opportunities Fund III and encouraged Ares to consider investing in Utah companies.
The CHG Healthcare Services investment by Ares marks the 60th Utah based company that has received investment from Utah Fund of Funds’ partners.