LOS ANGELES--(BUSINESS WIRE)--Ares Management, L.P. (NYSE:ARES) and Kayne Anderson Capital Advisors, L.P. announced today that they have entered into a definitive merger agreement to create Ares Kayne Management, L.P., one of the largest and most diversified alternative asset managers with a combined $113 billion of assets under management as of March 31, 2015. Under the terms of the agreement, Ares will provide $2.55 billion in consideration, the majority of which will be in the form of Ares O