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Alternative Market Briefing

Ares Management raises $1.7bn for distressed real estate investments

Wednesday, April 07, 2021

Laxman Pai, Opalesque Asia:

The global alternative investment manager Ares Management Corp. closed Ares U.S. Real Estate Opportunity Fund III at $1.7 billion, exceeding its fundraising target.

The publicly traded asset management firm with $197bn AUM said in a press release that this marks the largest U.S. real estate equity fundraise for Ares to date and is a significant increase from the $1 billion of commitments raised for the predecessor fund and related vehicles. The Fund targets distressed, repositioning, and selective development opportunities.

The fund is 70% larger than the $1 billion that was raised by its predecessor fund in 2015. It has already made nine investments. The fund's investments are expected to include distressed investments, properties that are being repositioned, and some development.

"Ares' U.S. opportunistic real estate strategy draws on the team's experience investing across market cycles and sectors and pursues a flexible approach that seeks to generate differentiated investment opportunities for investors. The Fund has already capitalized on what we believe is an attractive market opportunity post-COVID-19 with nine investments committed to date," said the release.

The high-quality investment activity in a period of market dislocation potentially demonstrates the key advantages of the Fund's distinct opportunistic strategy and proprietary sourcing capability through longstanding relationships, it added. Additionally, the Fund i......................

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