Ares Management Acquires a Diversified Portfolio of Private Credit Stakes
Oct 17, 2024 11:30 AM
Transaction Represents Ares’ Largest Credit Secondary Transaction to Date
NEW YORK – October 17, 2024 – Ares Management Corporation (NYSE: ARES) announced today that Ares Management funds (“Ares”) have acquired a portfolio of private credit Limited Partner stakes (the “Portfolio”) from a leading U.S.-based institutional investor. The Portfolio is invested in market-leading private credit General Partners and comprises 17 funds and over 1,500 loans, which are predominantly first lien, floating rate and cash-pay. Ares’ acquired interest in the Portfolio has a Net Asset Value (“NAV”) of approximately $491 million, representing Ares’ largest credit secondary transaction to date.
“We are pleased to complete this significant transaction underscoring the momentum of our strategy and growing need for credit secondaries,” said Dave Schwartz, Partner and Head of Ares’ Credit Secondaries strategy. “As private credit investors continue to seek liquidity, Ares is well-positioned to provide differentiated solutions to LPs and GPs given our long-standing relationships, private credit market experience and scaled capital base.”
“The transaction represents a compelling opportunity to gain exposure to a large and significantly diversified portfolio of interests in senior loans managed by market leading private credit managers,” said Luca Salvato, Partner in the Ares Secondaries Group. “We look forward to further leveraging our deep secondary transaction experience to support the long-term strategies of private credit LPs and GPs.”
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2024, Ares Management Corporation's global platform had over $447 billion of assets under management with more than 2,950 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
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