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Alternative Market Briefing

Ares closes direct lending fund on $5.1 billion
Tuesday, October 19, 2021

Bailey McCann, Opalesque New York:

Ares Management Corporation has closed its latest direct lending fund - Ares Private Credit Solutions II - on $5.1 billion. The fund, which was targeting $4 billion, hit its hard cap and is approximately 50% larger than its 2017 predecessor fund.

"Upper middle market businesses are increasingly looking to scaled private credit providers to meet their financings needs," said Michael Smith, Partner and Co-Head of the Ares Credit Group. The fund is already approximately 20% invested across nine companies.

The fund will provide tailored junior capital financing solutions to upper middle market companies. The strategy in......................

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