|
Laxman Pai, Opalesque Asia: The global alternative investment manager Ares Management Corp. joined the $200 billion club after the strongest fundraising year in its history, led by the largest European direct-lending fund ever raised.
The Los Angeles firm closed its latest fund - Ares Capital Europe V (ACE V) - at €11 billion ($13.2 billion), exceeding its target and reaching its hard cap.
"Ares Capital Europe V is the largest European direct lending fund raised to date and the biggest institutional fund raised by Ares Management," said the asset manager operating three integrated businesses across credit, private equity, and real estate.
With strong investor support, ACE V surpassed its €9.0 billion targets eight months after its launch.
The final Fund size represents an increase of approximately 70% versus the predecessor fund, Ares Capital Europe IV, which closed in July 2018 at its €6.5 billion hard cap and which was also oversubscribed.
Including anticipated leverage, the total available capital for ACE V will be approximately €15.0 billion. ACE V also represents the largest institutional fund raised by Ares Management to date.
The Fund attracted strong backing from a diverse group of nearly 180 investors, including 65 limited partners new to Ares Management. ACE V's global investor base includes pension funds, insurance companies, sovereign wealth funds, endowments, asset managers, and family offices. With more than 80% of commitments coming from...................... To view our full article Click here
|
RSS
