Ares Management raises over $9.8B for Opportunistic Credit Strategy

The company states: “Ares Management (ARES) announced that it has closed on over $9.8 billion of capital for its Opportunistic Credit strategy, inclusive of the final closing of Ares Special Opportunities Fund III LP (“ASOF III” or the “Fund”) and related transaction vehicles. With over $8.3 billion in equity commitments, ASOF III significantly exceeded its target and prior vintage fund size. ASOF III represents one of the largest dedicated pools of private capital raised for opportunistic credit. The Opportunistic Credit strategy leverages its scale and experience to partner with middle-market companies and provide flexible capital solutions to support organic and inorganic growth initiatives, refinance capital structures and return capital to shareholders. ASOF III seeks to provide private debt, equity and hybrid solutions that fill the gap between for-control private equity and more traditional corporate lending, while also opportunistically purchasing stressed public corporate credits.”