Antares Capital and Ares Management closed Antares’ first continuation vehicle with over $1.2 billion in commitments. The transaction was led by Ares Credit Secondaries funds, along with a commitment from Antares.
The continuation vehicle was established to purchase assets and limited partner interests from two comingled private credit funds comprising over 100 underlying first lien, floating rate loans originated and managed by Antares. The vehicle provided existing investors with an attractive liquidity option while offering new investors exposure to quality Antares-originated private credit assets.
“This transaction underscores our strong, long-standing partnership with Ares and our shared commitment to providing quality private credit opportunities,” Vivek Mathew, president of Antares Capital Advisers, said. “It also marks an important step in expanding the Antares platform and delivering new liquidity solutions to our investors.”
“We are pleased to welcome Ares as a lead investor and believe the successful close of our first continuation vehicle in today’s dynamic market highlights the quality of the Antares portfolio and the power of our origination and underwriting capabilities,” Ben Chapin, head of liquidity solutions at Antares Capital, said. “We are committed to structuring differentiated liquidity options tailored to both LPs and GPs, leveraging our extensive private credit experience, deep relationships and focus on credit discipline.”
“Building upon our multidecade relationship with Antares, we are proud to lead this transaction, which represents Ares’ largest credit secondary investment to date,” Dave Schwartz, head of credit secondaries at Ares, said. “This investment underscores our team’s differentiated experience in private credit and secondaries and our ability to deploy scaled capital. We look forward to leveraging our global relationships with leading private credit managers to deliver creative liquidity solutions that meet the needs of investors.”
Evercore served as exclusive financial advisor on the transaction.
