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Ares Management Corporation (NYSE:ARES) has closed on more than $9.8 billion for its Opportunistic Credit strategy. This includes the final closing of Ares Special Opportunities Fund III LP (ASOF III) and related transactions.
ASOF III, with more than $8.3 billion in equity commitments, has surpassed its target and the size of its previous fund. This fund is now one of the largest pools of private capital dedicated to opportunistic credit, the company said in a press release.
The strategy focuses on working with middle-market companies to provide flexible capital solutions, to support both organic and inorganic growth, refinancing, and returning capital to shareholders. ASOF III aims to fill the gap between traditional corporate lending and private equity by offering private debt, equity, and hybrid solutions.
"For ...
Source: Benzinga