Ares funds provide equity and debt refinancing in Equinox recapitalization alongside Silver Lake

Ares funds participated in the debt refinancing and provided equity capital in a recently announced strategic recapitalization of Equinox, according to Ares Management Corporation. Existing investors Silver Lake and principals of Related Companies also contributed additional equity.

Equinox operates a global portfolio of 118 luxury fitness clubs across major metropolitan markets and is expanding through a development pipeline in existing and new markets.

Ares said the refinancing strengthens Equinox's balance sheet and gives the company more than $1 billion of capital for club investment, member experience and growth initiatives. Jim Miller, President of Ares Capital Corporation, joined the Equinox board as part of the transaction. Ares did not disclose the size of its equity investment.