Ares Closes Approximately $4.1B in Direct Lending Origination Activity in Q2/23
Funds managed by the credit group of Ares Management closed approximately $4.1 billion in U.S. direct lending commitments across 51 transactions during Q2/23.
Funds managed by the credit group of Ares Management closed approximately $4.1 billion in U.S. direct lending commitments across 51 transactions during Q2/23.
Ares Management completed the acquisition of a $3.5 billion specialty finance loan portfolio from PacWest Bancorp. Barclays provided exclusive financing to Ares on the transaction.
Funds managed by the credit group of Ares Management closed approximately $2.1 billion in U.S. direct lending commitments across 35 transactions during Q1/23.
Ares Management launched Ares Strategic Income Fund, a business development company that will invest in senior secured loans to U.S. middle-market companies. The fund launched with approximately $1.5 billion in investible capital.
Ares Management, a global alternative investment manager, and Mubadala Investment Company, a global sovereign investor, formed a joint venture to invest in global credit secondaries opportunities.
Ares Management, and funds managed by its Credit Group, closed approximately $8.3 billion in U.S. direct lending commitments across 50 transactions during the fourth quarter of 2022.
Ares Management closed its Infrastructure Debt Fund V (IDF V), which is focused on making subordinated investments across the digital, utilities, renewables, energy and transportation sectors. IDF V held its final close on Dec. 29, 2022, at approximately $5 billion.
Ares Management’s credit group closed approximately $5.7 billion in U.S. direct lending commitments across 45 transactions during the third quarter of 2022 and approximately $32 billion in direct lending commitments across 251 transactions in the last 12-month period.
Ares Management, a global alternative investment manager, completed the final closing of its Ares Special Opportunities Fund II (ASOF II). With strong global investor support, ASOF II closed at its hard cap with $7.1 billion of commitments.
Ares Management held the final closing of its Ares U.S. Real Estate Fund X on Sept. 30. U.S. X was oversubscribed with $1.8 billion of commitments relative to its $1.5 billion target and is more than 75% larger than its predecessor fund, which closed at $1.04 billion in November 2018.