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.

Ares Provides $175MM Revolver to BFS Capital

BFS Capital, a small business financing platform, received a $175 million revolving credit line from Ares Management.

Ares Credit Group Totals $2.8B in 53 Transactions in Q4/017

During Q4/17, the Ares Management Credit Group closed new financing commitments in its U.S. direct lending strategies that totaled approximately $2.8 billion across 53 transactions.

Ares Closes Lending Fund at $3.4B

Ares Management held the final close for its junior capital direct lending fund with $3.4 billion of total commitments, which exceeded the initial fundraising target of $2.5 billion.

Ares Management Names New Senior Executives

Ares Management appointed Michael J Arougheti CEO, Tony Ressler executive chairman, Michael McFerran COO and Ryan Berry chief marketing and strategy officer.

Ares Provides $30MM Refi Facility to Capstone Nutrition

Ares Commercial Finance provided a $30 million secured revolving line of credit to Cornerstone Research & Development, d/b/a Capstone Nutrition. The proceeds were used to refinance the company’s existing debt and support working capital.

Ares, Others Provide $73.8MM to Support Nuverra Bankruptcy Exit

Nuverra Environmental Solutions emerged from bankruptcy protection with more than $70 million in new financing provided by ACF Finco I, an entity managed by Ares Management, Ascribe Capital, and Gates Capital Management.

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.

Ares Adds Higgins as Credit Group Partner in London

Peter Higgins has joined Ares Management as a partner and portfolio manager in the Ares Credit Group.