Ares Management raises $8bn

The Los Angeles firm has raised capital for its second senior direct lending fund focused on North America.

Fund: Ares Senior Direct Lending Fund II
Amount raised: $8 billion
Target size: $4.5 billion
Stage of fundraising: Final close
Predecessor fund: Ares Senior Direct Lending Fund ($3 billion)

Ares Management has held the final close on Ares Senior Direct Lending Fund II at $8 billion, according to a press release. Capital raised will be used to directly originate senior secured loans to mid-market companies primarily in North America. The fund has already deployed over 30 percent of its investable capital base across more than 70 companies.