Century City firm Ares Management announced Wednesday that its subsidiary, Ares EIF Management, along with Genesis Power in Needham, Mass., have sold the soon-to-be-built Keys Energy Center in Maryland to PSEG Power in Newark, N.J. The Keys Energy Center is a proposed natural gas-fired power plant that will provide clean energy to Maryland. Construction is expected to begin this year. Terms were not disclosed.
Kayne Partners, the growth private equity division of Century City firm Kayne Anderson Capital Advisors, announced Thursday that it has led a $15 million Series B funding round for Cryptzone, a Waltham, Mass. enterprise security firm.
Ares, by the way, is rumored to be considering an acquisition of Kayne Anderson.