Daily News: July 17, 2017

Ares Management Prices $1.1B CLO

Ares Management completed the pricing of Ares XLIV CLO, a $1.1 billion CLO and the second largest in the firm’s history. Ares XLIV was sponsored by Ares’ Credit Group and is the second largest broadly syndicated CLO in 2017.

The CLO is primarily comprised of broadly syndicated first lien senior secured U.S. bank loans. The closing of Ares XLIV is expected by the end of the third quarter and is subject to customary closing conditions.

Ares XLIV represents Ares Management’s third CLO in 2017 with an aggregate amount priced or closed year to date of more than $2.3 billion.

Ares sponsors and manages both corporate and real estate CLOs.