Ares Management closed Ares Private Credit Solutions II (APCS II). APCS II was oversubscribed, gaining $5.1 billion of commitments compared with its $4 billion target, and is approximately 50% larger than its 2017 predecessor fund.
Nuula secured $120 million in new funding. The total is made up of $20 million in equity funding led by Edison Partners that will accelerate the brand’s launch and drive adoption of the Nuula mobile app and a $100 million credit facility provided by funds managed by the credit group of Ares Management.
Funds managed by Ares Management’s European direct lending strategy are serving as the sole lenders of £1 billion ($1.39 billion) of available debt facilities to the RSK Group, a privately-owned multi-disciplinary environmental business in the United Kingdom.
Ares Management won four awards from Private Debt Investor and Private Equity International, including Global Fund Manager of the Year, BDC of the Year (Americas), Distressed Debt Investor of the Year (Asia- Pacific) and Lender of the Year (North America).
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.