In conjunction with a $150 million capital raise by Ares Management for IGS Resi Solar III, ING arranged a seven-year, $146 million senior secured financing for IGS Resi OpCo II.
Mitch Drucker joined Ares Commercial Finance as a partner. Drucker previously worked for Garrison Investment Group and CIT.
Centric Brands entered into a restructuring support agreement, led by certain funds managed by Blackstone, Ares Management, and HPS Investment Partners, to recapitalize the company and provide $435 million in debtor-in-possession financing.
Funds managed by Ares Management’s credit group closed approximately $2.7 billion in direct lending commitments across 40 transactions during Q1/2020.
Ares Management, Sumitomo Mitsui Financial Group and Sumitomo Mitsui Banking reached a strategic agreement to collaborate on future business opportunities.
Ares Management has appointed Kipp deVeer to its board of directors, effective immediately. Concurrently, John Kissick, now a retired co-founder of Ares, is stepping down from the board.
Ares Management’s Alternative Credit provided a $450 million revolving asset-backed credit facility secured by agricultural production loans originated by Ag Resource Management.
Funds managed by Ares Management’s Alternative Credit strategy have provided a $350 million revolving asset-backed credit facility secured by consumer loans to Southern Management Corporation, a portfolio company of Milestone Partners.