Ares Management (ARES) Closes $34B for U.S. Senior Direct Lending Strategy
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Ares Management Closes $34 Billion for U.S. Senior Direct Lending Strategy
July 31, 2024 6:30 AM EDTOversubscribed SDL III Significantly Exceeds Target, Creating the Largest Direct Lending Fund in the Firms History and the Largest Institutional Fund in the Market
NEW YORK--(BUSINESS WIRE)-- Ares Management Corporation (Ares) (NYSE: ARES), a leading global alternative investment manager, announced today the final closing of Ares Senior Direct Lending Fund III (SDL III or the Fund). With total equity commitments of approximately $15.3 billion, SDL III was oversubscribed relative to its initial target of $10.0 billion. The total capital base for SDL III is expected to be approximately $33.6 billion, which includes equity... More
