Ares Direct Lending Fund Closes with $3B in Total Commitments

Ares Management closed its inaugural, commingled U.S. senior direct lending fund with approximately $3 billion in total commitments, a significant oversubscription of its initial $2 billion target.

Ares Management Acquires Three Texas Wind Farms from BP

A fund managed by Ares Management’s Infrastructure and Power strategy closed on the acquisition of three operating utility-scale wind facilities in Texas from BP Wind Energy North America.

ACF Finco, Ares Agent $120MM ABL Financing for Teligent

Pharmaceutical company Teligent entered into a new senior-secured asset-based first lien revolver with ACF Finco I as administrative agent and a definitive second lien credit agreement with Ares Capital as administrative agent.

Marble Ridge Sues Neiman Marcus Over Alleged Fraud Scheme to Benefit Ares Management

Marble Ridge Capital brought suit against Neiman Marcus Group, alleging the company had fraudulently transferred $1 billion in assets for no consideration in order to benefit Ares Management and the Canada Pension Plan Investment Board, the beneficial owners of the Group.

Ares Management Completes Corporate Conversion

Ares Management completed its conversion to a corporation under Delaware law and changed its name from Ares Management, L.P. to Ares Management Corporation.

Ares Management Provides $2.9B in Commitments in Q3/18

Ares Management’s Credit Group provided approximately $2.9 billion in commitments across 47 transactions that closed during the third quarter of 2018.

Deutsche Bank Closes $650MM Term Loan for Salt Creek Midstream

Deutsche Bank closed a four-year, $650 million term loan for Salt Creek Midstream, a portfolio company owned by funds managed by the Private Equity Group of Ares Management and ARM Energy Holdings.

Gastar to File for Chapter 11, Ares to Support Company RSA

Gastar Exploration entered into a restructuring support agreement with its largest funded-debt creditors. Ares Management agreed to provide $100 million in committed financing to support the restructuring process.

Ares Closes Direct Lending Fund at $7.609B

Ares Management closed its fourth European direct lending fund, Ares Capital Europe IV. Within six months of its launch, ACE IV was significantly oversubscribed, closing at a hard cap of €6.5 billion ($7.609 billion) in total commitments.

Ares Provides $35MM Credit Facility to FinFit

Fintech company FinFit Ops closed a $35 million senior credit facility with Ares Management. The facility includes the option to increase its capacity to $70 million.