Kirk Falconer
The amount raised provides Fund IV with just under half of its $4.5bn target, reported last year by affiliate title Buyouts.
Ares’ Special Opportunities was launched in 2017 by Scott Graves, a partner and co-head of the private equity group, who joined the same year following a career at Oaktree Capital Management.
About 90% of Penfund’s deals involve mid-market companies backed by sponsors like Leonard Green & Partners, Hellman & Friedman, Genstar Capital and OMERS Private Equity.
Gensler’s overarching goal, he said, is to 'bring more sunshine and competition to the private funds space'.
Crescent in January sold a 51% stake to SLC Management, the alternative asset unit of Sun Life, for up to $338m.
Fund II’s expected closing comes four years after BC Partners hired Apollo Global Management’s Ted Goldthorpe to create and lead a New York-based private debt strategy.
'We want to create an institutional-quality product for the retail market,' BCP Credit head Ted Goldthorpe, a former Apollo Global Management executive, says.
Kerberos' Fund I and II were as, of Sept. 2020, earning a 28.7% gross IRR and a 28.3% gross IRR, respectively, according to an Arkansas TRS report.
Antares last year secured $3bn for Antares Senior Loan Fund, the Chicago firm’s first major, broadly-marketed institutional vehicle.
In his first interview since becoming CDPQ's head of private equity and capital solutions, Laguerre tells affiliate title Buyouts about his plans, including offering a credit option.