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  

The ideal home for a loan

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

Credit funds at a glance
A round-up of fundraising and people moves in credit

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

Direct lender hires head of credit as it closes in on European mid market CLO
BeSpoke Capital has made a big hire as part of a reorganisation of the direct lender’s business

New kids on the block dominate awards

Spire wins Creditflux Manager of the Year award
Spire Partners was the big winner at Creditflux's Manager Awards last night as the London-based manager scooped the award for the manager of the year. On top of this, the firm picked up awards for Best European CLO Manager and Best European CLO for Aurium CLO II

Pennsylvania pension commits $150 million to European credit funds
Pennsylvania State Employees’ Retirement System approved $975 million of investments at its 24 April meeting

Ares to expand network with hubs in Amsterdam and Madrid
Ares Management is expanding across continental Europe by opening offices in Amsterdam and Madrid. These are expected to be running in the first half of 2019

Ares and GSO carry unitranches over €1 billion mark
Flush with cash, European direct lending managers have finally passed the milestone one billion unitranche mark this quarter

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

We have a completion rate of around 4% of transactions we see
Ares' Mike Dennis takes our credit quiz

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