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Laxman Pai, Opalesque Asia: Global alternative investment manager Ares Management Corp. has amassed a €30 billion ($30.7 billion) pool of capital for its latest European direct lending fund, the largest of its kind ever in the region.
With total commitments of €17.1 billion, the sixth commingled European direct lending fund, Ares Capital Europe VI, closed above its €15 billion target and reached its hard cap, according to a media release from the alternative asset manager. Ares believes that ACE VI is the largest institutional fund in the global direct lending market to date based on LP equity commitments.
The final Fund size represents an approximate 53% increase in LP commitments relative to its predecessor fund, Ares Capital Europe V, which closed in 2021 at its €11.1 billion hard cap. Including related vehicles and anticipated leverage, the total available capital for the Ares European Direct Lending strategy is expected to be approximately €30 billion, said the release.
Combined with the previously announced $33.6 billion of total capital raised for its Senior Direct Lending Fund III (SDL III), inclusive of related vehicles and anticipated leverage, Ares has closed on approximately $64.5 billion across its SDL III and ACE VI strategies - cementing its global market leadership.
"The final closing of ACE VI underscores the strength of Ares' European direct lending platform as well as the strong demand from borrowers for flexible...................... To view our full article Click here
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