The Orange County Business Journal reported that Montage Hotels & Resorts LLC in Irvine said a real estate fund affiliated with Ares Management in Los Angeles will buy up to 20 percent of the company and, in addition, “provide up to $200 million in future growth capital” to acquire and develop properties Montage would operate.

The Irvine company has a presence locally in the Montage Beverly Hills, a five star hotel. Ares Management is a publicly traded asset management company in Downtown Los Angeles with approximately $92 billion in assets.