Ares Management closed Ares Pathfinder Fund II at $6.6 billion in commitments. The fund was oversubscribed and closed at its hard cap, which exceeded its $5 billion target.
Ares Management completed the acquisition of a $3.5 billion specialty finance loan portfolio from PacWest Bancorp. Barclays provided exclusive financing to Ares on the transaction.
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.
Jeffrey Hughes joined Ares Management’s credit group to lead the firm’s new effort in sourcing and managing privately placed investment grade credit investments.
Ares Management closed its Ares Pathfinder Fund, L.P. With $3.7 billion in total commitments closed, the fund was significantly oversubscribed at its hard cap and exceeded its original target of $2 billion.