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.
F.N.B. entered its next phase of strategic expansion in Virginia, including further growth of its retail network in the greater Washington, D.C., area and plans to extend its commercial banking operations into Richmond, VA, with a new loan origination center.
Evolent Health entered into a definitive agreement to acquire IPG, a technology and services company providing surgical management solutions for musculoskeletal conditions. Ares Management provided a $225 million senior credit facility to support the acquisition.
Ares Management, a global alternative investment manager, released its first-ever TCFD Climate Action Report alongside its annual sustainability report titled Accelerating Our Impact.
The funds managed by Ares Management’s infrastructure debt strategy committed a delayed-draw sustainability-linked debt facility to EdgeConneX, a global provider of data center solutions.
Ares Management closed approximately $5 billion in U.S. direct lending commitments across 54 transactions during Q1/22 and approximately $35 billion in direct lending commitments across 287 transactions in the past year.
Ares Management entered into a definitive agreement to acquire, on behalf of funds managed by the Ares Credit Group, the middle market-lending portfolio of Annaly Capital Management for approximately $2.4 billion.