Ares continues its hunt for billions

The Los Angeles-headquartered alternative investment firm raised $400m towards a US direct lending fund in Q2. The firm is said to be aiming for $2.5bn.

Ares Management’s credit group is back on the fundraising trail with a new US direct lending vehicle that will aim to do upper mid-market deals outside of the Ares BDC.

The Los Angeles-headquartered asset manager reported pulling in $400 million for the vehicle that would be able to invest across the capital structure.