Unlevered direct lending funds bring in first-time investors
Unlevered direct lending funds are particularly appealing to first-time investors and one of the biggest managers in the business has taken note of this

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

Ares launches "largest ever" European direct lending fund with up to €10 billion to invest
Ares Management has held the final close on what it claims to be the largest European direct lending fund raise ever

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

Oaktree nominates two directors to direct lending board following "poor decisions"
A further development in the Ranger Direct Lending Fund saga has taken place with Oaktree Capital Management - an 18.56% shareholder - having nominated two new directors to add to its board

Ares emerges as favourite to take over troubled direct lending fund
Following Oaktree’s wind-down request, the board of the Ranger Direct Lending Fund has chosen Ares as replacement manager - moves which could see the fund change its focus from peer-to-peer loan investments to asset-backed loans

Ares targets €4.5 billion for fourth European direct lending fund
Los Angeles based Ares Capital Management has launched its fourth European direct lending fund, Ares Capital Europe IV, with a €4.5 billion target size, SEC filings show

Ares leads the way as US tax reform prompts corporate structure rethink
Ares Management has announced its conversion from a partnership tax structure to a corporation or C-Corp – and it’s likely other managers will follow suit now that US taxation law changes – the most comprehensive tax reform in more than three decades – have taken effect

Ares Reit reports year-on-year dip in earnings amid leadership change
The Ares Commercial Real Estate Corporation has announced a changed in leadership – and has reported mixed results for fourth quarter 2017

Ares switches to C-Corp structure as it announces "record year" in earnings release
Ares has announced a change to its corporate tax status in an earnings release that described 2017 as “a record year” for the firm

Ares and Varagon expand direct lending JV to $6.4 billion
Ares Capital and Varagon have expanded their joint venture’s investment capacity by $3.5 billion

Ares's $3.4 billion direct lending fund raise brings hordes of new investors
60% of the investors in Ares's new direct lending fund are new to the firm, according to an announcement by the firm

Ares promotes credit veteran to CEO
Ares Management has appointed Michael Arougheti as its chief executive officer. Arougheti is one of the founders of Ares and is also a partner in the firm’s credit business

Ares keeps up direct lending growth and plans new credit fund launch
Ares Management’s credit business just keeps growing, with the firm planning a new fund launch and a continued push into European direct lending, according to a recent results presentation

Partner leaves Ares's credit group after almost 20 years at the firm
A former fund and CLO portfolio manager, who had spent the last couple of years working in a business development role, has left Ares's Los Angeles offices    

US managers win South Korean investment
Ares, Audax and KKR are among the cluster of fund managers that have put their hearts and minds into marketing credit funds in Seoul – with great success

Credit fundraising hits $11.1bn in September
$11.1 billion was raised for credit-orientated strategies in September, according to Creditflux’s fundraising tracker. Just over half of this ($5.6 billion) comes from direct lending funds