Ares closes record European direct lending fund

By Silas Brown
29 Apr 2021

US alternative asset manager Ares has closed an €11bn European direct lending fund, the largest of its kind.

The initial target was €9bn, but was increased to the hard cap of €11bn due to  demand. With €4bn of leverage on top of that, the total capital the fund is able to deploy is €15bn.

Almost 180 investors participated, including endowments, insurance companies, pension funds, asset managers ...

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