Ares Management (NYSE:ARES) raised roughly $30 billion in new capital in the first quarter, a company record that signals big investors are still allocating to private credit despite months of skeptical commentary about the space.
Ares credit business accounted for the largest share of the quarter’s haul, raising $20.4 billion, while its real assets platform brought in $6.2 billion.
“We are on track for another record year of fundraising as we continue to see broad-based investor demand across our platform. We also continue to see strong fundamental performance across our investment portfolios despite the volatile market environment,” said CEO Michael Arougheti in a press release.
Ares finished the quarter with $158.1 billion of uninvested capital, up 11% from the prior year. The firm said it deployed $32.3 billion during the period across U.S. and European direct lending, real estate, and alternative credit strategies.
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