Ares Management Corporation has raised $7.1bn (£5.3bn) for its credit secondaries strategy, with the close of its fund marking the firm’s largest inaugural institutional fundraise to date.
The $595bn alternatives manager said the total includes the close of its Ares Credit Secondaries Fund, affiliated vehicles and anticipated leverage.
In total, Ares raised approximately $4bn in limited partner (LP) equity commitments, doubling its $2bn target and representing its largest inaugural institutional fundraise, the firm said.
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Based on these LP commitments, Ares claimed the fund is the largest dedicated institutional credit secondaries fund globally.
“The success of this milestone fundraise underscores our early-mover advantage in credit secondaries and the power of the Ares platform,” said Blair Jacobson, co-president of Ares. “As investors’ liquidity needs evolve, we will continue to develop innovative general partner and LP solutions that leverage our decades of investment experience and extensive relationship networks.”
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The credit fund will comprise a portfolio of predominantly senior secured loans to private equity-backed companies. Ares will invest by selectively participating in LP-led and continuation transactions alongside leading asset managers.
“The final closing of ACS reflects the strength and market leadership of our credit secondaries strategy, which is supported by one of the largest purpose-built teams in the market,” said Dave Schwartz, head of Credit Secondaries at Ares. “We are excited to execute on our significant pipeline in a rapidly growing and attractive market opportunity.”
The fundraising comes as data from HarbourVest Partners shows secondaries volumes exceeded $110bn in 2025, marking a record year for the market as LPs increasingly seek liquidity.
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