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Laxman Pai, Opalesque Asia:

Global alternative investment manager Ares Management Corporation raised about $5 billion for the Infrastructure Debt Fund V (IDF V) which invests in the debt of infrastructure assets such as data centers, telecommunication towers, ports, and utilities.

The investment management giant said in a press release that IDF V's $5bn commitments include general partner commitments and related transaction vehicles.

"We appreciated the strong support and interest from our existing and new investors in IDF V," said Patrick Trears, Partner and Global Head of Ares Infrastructure Debt. "Our investors' confidence and trust reflect the strength of the Ares Infrastructure Debt strategy, which is backed by our global team with a long track record supported by the increasing capital demands for infrastructure debt."

The asset manager said its infrastructure debt team has invested or committed approximately $2bn, or roughly 40% of IDF V's investable capital base, to date. Among its investments, IDF V has structured sustainability-linked debt facilities.

"By adding the Infrastructure Debt strategy to the Ares platform, we have been able to provide our investors a meaningful opportunity to participate in the expanding infrastructure market," said Michael Smith, Partner, and Co-Head of the Ares Credit Group.

"As a leader in private credit and infrastructure debt, we seek to provide one-stop financing solutions for essential infrastructure project......................

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