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  

Kissick and make up: Ares replaces board member
Ares Management has appointe a replacement to its board of directors as retired Ares co-founder John Kissick steps down

Ares buys seven CLOs from Crestline Denali
Ares Management has bought management contracts for seven Crestline Denali CLOs

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  

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

Ares hires head of credit trading
Ares Management has appointed a head of credit trading in a newly created role

Ares appoints Atalaya founding partner to co-head alternative credit unit
He will serve as co-head of Ares' $4 billion alternative credit unit alongside Keith Ashton 

Ares credit business grows 4.4%, driven by US direct lending
US and European direct lending, alternative credit and syndicated loan funds dove growth for Ares Management Corporation in the second quarter, the firm said

Ares brings in $1 billion for first credit special situations fund
The Los-Angeles based manager is now just over halfway to its $2 billion target size

Ares hires Natixis deputy CEO for the Americas to credit investing role
Ares Management has poached the Americas deputy chief executive officer from Natixis's investment banking business

Ares grows credit 34% with direct lending boost, but high yield takes rough ride in Q4
Ares Management Corporation reported strong returns for its European direct lending strategies in the fourth quarter of 2018. But the firm's overall revenues slumped and its US loan funds and high yield strategies were hit by the volatile credit market 

SEC proposal could strengthen BDCs’ power to purchase funds
The Securities and Exchanges Commission (SEC) has released proposals to allow regulated US funds, including listed funds, closed-end funds and business development companies (BDCs), to acquire shares of other regulated funds in excess of current limitations

Ares starts 2019 with a bang, closing US senior direct lending fund at $5 billion
Ares Capital Management has held a final close for its US senior direct lending fund with $5 billion total capital available

Texas pension awards $500 million to European direct lending managed account
This is the largest investment to credit that the $30 billion pension fund has made

Ares ups its target for US senior direct lending growth to $4.7 billion
Following $5 billion of inflows into global direct lending in the third quarter, Ares has upped the target for its US direct lending strategy 

BDCs find variety of routes to higher leverage but remain cautious of two-times limit
Business development companies have been granted flexibility by US regulators, but there seems to be little consensus on the best way to take advantage

Private credit specialist rejoins Ares in Los Angeles
Ares Capital Management has appointed managing director Michael Zugay to its private credit team in Los Angeles 

Ares brings in credit portfolio managers from DoubleLine and Pimco
Ares Management has bolstered its liquid credit team with the appointment of Jason Duko and Kapil Singh, who join as partners and portfolio managers

Credit drives strong returns for five of the largest asset managers in the business
Carlyle is close to hitting its ambitious fundraising target; direct lending has been kind to Ares; and Och-Ziff has decided to shed its US CLO risk retention stakes after exiting its financing agreements

Ranger direct lending fund set to wind-up as Ares withdraws candidacy
A new development in the Ranger Direct Lending Fund saga: Ares withdraws its proposal to assume managerial responsibilities for the fund