Ares Management closes its latest debt fund

Ares has raised $7.1bn.

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

Ares Management has held a final close for its latest debt fund, Ares Special Opportunities Fund II, according to the recent press release.

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.