Ares Management (NYSE:ARES) is planning to launch a flagship U.S. direct lending fund that will target approximately $20 billion.
While plans are still in the early stages and details regarding the fund launch could change, Ares is understood to be holding initial conversations with investors about the fund. The fund is set to launch in the summer, unnamed sources told Bloomberg.
Despite the broader slowdown in the private credit market, several asset managers have demonstrated that investor demand for private credit assets remains resilient.
Blackstone recently secured more than $10 billion from its opportunistic credit vehicle, Blackstone Capital Opportunities Fund V, reaching its hardcap after being oversubscribed.
Meanwhile, Goldman Sachs (NYSE:GS) revealed that it was launching a new mezzanine debt fund. GS Mezzanine Partners IX, is expected …
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