Antares Capital has closed its second continuation vehicle with more than $1.7bn (£1.3bn) in commitments, led by $623bn alternatives manager Ares Management.
The continuation fund purchased assets from a closed-end private credit fund managed by Antares, which comprised more than 300 underlying first-lien, floating-rate loans.
The transaction was led by Ares Credit Secondaries funds, alongside a commitment from Antares.
Read more: Ares AUM surpasses $600bn in Q4 2025
“This transaction reflects our continued commitment to delivering innovative liquidity solutions to private credit institutional investors,” said Vivek Mathew, president of Antares Capital Advisers. “Antares is pleased to once again partner with Ares and utilize the continuation vehicle structure to provide flexible, investor-focused solutions, while offering access to a mature, high-performing portfolio with healthy cash generation.”
Antares, an alternative credit manager with approximately $90bn in assets under management, will continue to manage the continuation vehicle and the underlying loans.
Both Ares and Antares said the fund provides existing investors with a liquidity option while offering new investors exposure to Antares’ private credit assets.
Read more: Ares hits $7.1bn in landmark credit secondaries raise
“We are pleased to lead this continuation vehicle, our second with Antares in the past year, underscoring our ability to deliver creative liquidity solutions for leading general partners and their limited partners in this dynamic market environment,” said Dave Schwartz, head of Ares Credit Secondaries, and Luca Salvato, partner at Ares. “This investment highlights the strength of our scaled capital base, disciplined approach to credit investing and deep experience across credit and secondaries.”
Evercore served as lead financial adviser on the transaction, with GreensLedge and Moelis & Company also acting as financial advisers.
Read more: Ares backs US credit manager Goal for consumer loan portfolio
