Ares Management closed approximately $6.1 billion in U.S. direct lending commitments across 53 transactions during Q3/23 and approximately $20.6 billion in direct lending commitments across 189 transactions in the last 12-month period ended Sept. 30.
Ares Management Corporation and Vinci Partners Investments reached an agreement to form a strategic partnership. Additionally, an affiliate of Ares will concurrently make a $100 million investment in new convertible preferred shares to be issued by Vinci.
SageSure, an independent managing general underwriter focused on providing catastrophe-exposed property insurance, closed a $250 million equity investment led by Amwins and Flexpoint Ford, with participation from Ares Management.
James Kim joined Ares Management Corporation as a partner and head of European special opportunities in Ares’ private equity group. Based in London, Kim will lead Ares’ special opportunities activities in Europe.
Funds managed by the alternative credit strategy and real estate group of Ares Management acquired Capital Automotive from a Brookfield private real estate fund for $3.8 billion.
Philip Moore, Alessandro Luca and Anisa Dudhia joined Ares Management to expand its real estate debt presence in Europe.
Ares Management closed on the acquisition of two portfolios consisting of 75 industrial properties totaling 11.9 million square feet. The properties were purchased from two different sellers at an aggregate purchase price of approximately $1.7 billion.
Ares Management closed Ares Senior Direct Lending Fund II. The fund is more than 2.6 times the size of its 2018 predecessor fund of $3 billion. Including anticipated leverage, the total capital base for the fund is expected to be approximately $14 billion.
Funds managed by Ares Management’s alternative credit and U.S. direct lending strategies led the arrangement and funding of a $400 million loan facility for CrossCountry Mortgage.
Thoma Bravo completed its acquisition of Stamps.com for approximately $6.6 billion in cash. Blackstone Credit, credit funds managed by Ares Management, PSP Investments Credit II and Thoma Bravo Credit provided debt financing for the transaction.