Fund name: Ares Special Opportunities Fund II
Amount raised: $7.1 billion
Target size: $4 billion
Hard Cap: $7.1 billion
Stage of fundraising: Final close
Final close date: 24 October 2022
Predecessor fund: Ares Special Opportunities Fund
In June 2020, the Los Angeles-based asset manager held a final close for Ares Special Opportunities Fund on $3.5 billion. The fund targeting distressed companies was able to surpass its target size of $4.1 billion and close at its hard-cap of $7.1 billion.
Ares Management, established in 1997, is a publicly traded, global alternative asset manager. In 2012, the Ares Real Estate Group formed Ares Commercial Real Estate Corporation, a real estate investment trust focused on mid-market commercial real estate lending.
The fund will invest into various sector across North America and Europe. The fund will be targeting distressed debt returns.