Ares holds €6.97 billion first close on European direct lending fund
Ares Management Group has collected $12 billion in gross credit commitments over the third quarter of the year, according to the firm’s earnings presentation, including $8.2 billion for the first closing of its fifth European direct lending fund

LP round up: EIF backs four debt funds while Carlyle wins $1 billion
Institutional investors have allocated just over $4 billion to 27 credit managers in October board meetings

Credit fundraising: managers build homes for real estate credit funds
The “largest ever real estate credit fund” was one of the fundraising highlights last month as Blackstone’s Real Estate Debt Strategies IV fund reached $8 billion on its final close

Hayfin partner lands at Ares in London
Ares Management has appointed a former Hayfin official as managing director in the firm’s credit group, focused on alternative credit investments

LP round up: $5 billion flows to credit as private market allocations increase
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux

Ares pulls in at least €6 billion for European direct lending
Ares Management is well on track for raising its largest European direct lending fund

Ares adds to European direct lending team
Ares Management has hired a London-based vice president to its European direct lending team

LP round up: managers keep fundraising hopes high as GSO targets $7.5 billion for mezz offering
Institutional investors allocated $1.6 billion into credit this week, according to documents seen by Creditflux

Four managers join forces on gigantic £1.9 billion unitranche
The supersized transaction to Ardonagh Group, led by Ares, is the largest ever unitranche facility

Ares fined $1 million by SEC over 'misuse of non-public information'
Ares Management has been fined $1 million by the US Securities and Exchange Commission in a settlement surrounding compliance failure relating to a portfolio company

Ares appoints Garrison managing director as partner in ABL team
Ares has hired a managing director from Garrison Investment Group to join its asset backed lending group as partner

Louisiana pension commits $150 million to mezzanine and credit opportunities funds
Teachers Retirement System of Louisiana has awarded $150 million to two credit funds managed by Ares Management and Audax Group at its 7 May board meeting, a spokesperson for the pension has confirmed

Ares raises $3 billion special situations fund ahead of huge European direct lending launch
Ares Management has witnessed “accelerated fundraising” for its special situations fund, which it has closed at around $3 billion, according to the firm’s earnings calls. The firm also launched its fifth European direct lending fund this week, which Ares expects could be “the largest private comingled fund in its history”

Fitch places five BDCs on negative outlook
Fitch Ratings has changed the outlooks of five business development companies from stable to negative folllowing a review of its rated BDCs

Virginia pension allocates $850 million to credit in Q1
Virginia Retirement System has allocated $850 million to three credit strategies in the first quarter of the year, according to an update at its 15 April investment committee meeting

Ares hires head of ESG from Partners Group
Ares Management Corporation has appointed a head for its environmental, social and governance (ESG) practice, effective from April  

Ares appoints head of Australia
Ares Management has hired an ex-Macquarie Group official to lead Ares Australia Management, the newly created joint venture between Ares and Sydney-based Fidante Partners

Ares' new Asian credit affiliate wins $400 million from New York pension
New York State Common Retirement Fund has committed $400 million to distressed and special situations investments in the Asia-Pacific region  

Ares wins $750 million for direct lending SMA with another $100 million in the pipeline
Two US based pension schemes have recently backed or looked to commit to direct lending products managed by Ares Management, according to documents seen by Creditflux  

Ares buys majority stake in Asian credit manager SSG
Ares has bought a majority, controlling interest in SSG Capital Management, an Asian alternative asset manager focused on private credit and special situations 

Ares makes rare move by pulling out of private debt mandate
Greater London’s local government pension pool has lost one of its credit managers after Ares Management withdrew from its role as fund manager on an illiquid loan and private debt mandate  

European Direct Lending Perspectives: fundraising records shatter
Fundraising in European direct lending hit €32.2 billion in September to mark a record-breaking year for the industry, according to the latest version of European Direct Lending Perspectives

US pension backs special opportunities fund
Virginia Retirement System (VRS) has committed $150 million to a special opportunities fund, managed by Ares Management Corporation  

Direct lenders start to overcome bank dominance in Spain
Spain is becoming a popular destination for direct lenders — despite the competitive terms offered by local banks. Sources say that borrowers are starting to look beyond pricing to ease of execution and flexible documentation.

Ares spots growth in Australia and forms distribution JV with Fidante
Ares has teamed up with Fidante Partners to boost its distribution capabilities in Australia and New Zealand across its credit, private equity and real estate strategies