(Bloomberg) -- Ares Management LP, the asset manager whose private-equity investments include Nieman Marcus Group Ltd. and Jacuzzi Brands Corp., is seeking to raise as much as $418.4 million in its U.S. initial public offering.

Ares is offering 18.2 million shares for $21 to $23 each, according to a filing today. Abu Dhabi Investment Authority is also planning to sell shares of Ares in the IPO, the filing shows. At the top of the offering range Ares would have a value of about $4.86 billion, based on 211.4 million shares outstanding if all Ares Operating Group units are exchanged for newly issued common units, the filing shows.

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