Los Angeles global asset manager Ares Management LLC has signed a definitive agreement to acquire Indicus Advisors for an undisclosed amount.

Indicus specializes in European leveraged finance and manages funds backed by collateralized loan obligations. It provides advisory services on about $4 billion of investments. Prior to announcement of the acquisition, Ares had more than $1 billion in European corporate credit under management.

“We believe that European corporate credit will continue to grow for years to come and Ares Management will participate significantly in this growth by offering highly attractive risk-reward opportunities to our investors,” said Tony Ressler, senior partner and chairman of the executive committee.

The acquisition is subject to regulatory approval in the United Kingdom. Indicus founders David Reilly and Ujjaval Desai will remain in London as co-heads of Ares Capital Markets Europe, responsible for Ares’ European syndicated debt and global structured products. About 17 Indicus employees will join the Ares Capital Markets Group in either the London or New York offices.