The firms have reportedly held discussions over a potential tie-up, which would boost Ares' secondaries AUM closer to the $50 billion mark.
The transaction creates a $2.6 trillion manager spanning public and private markets, including secondaries and semi-liquid investment platforms.
The deal, which includes future fund commitments, expands Temasek's exposure to Italy's mid-market.
Launched in 2019, the $2.4 billion platform recently closed on $1.25 billion for its second GP capital solutions fund and associated vehicles.
The deal would reportedly expand the firm's presence in Europe and boost its infrastructure exposure.
The transaction adds nine private equity and credit secondaries strategies to EQT's offering, while its combined evergreen platform now exceeds €10 billion in NAV.
Founded by Rob McGrath, Overbay is a Toronto-based private equity secondaries specialist with around $3 billion in AUM.
The deal will expand Mercer's private markets platform, adding expertise in secondaries and evergreen vehicles to its offerings.
Founded by Rob McGrath in 2016, Overbay Capital Partners is a Toronto-based private equity secondaries investor with over $2.5 billion in AUM.
The newly combined entity is expected to double the size of Coller's secondaries business in less than four years.
