Ares Management has entered a strategic joint venture with US private credit firm Goal Investment Management to acquire a portfolio of consumer loans.
Under the partnership, Ares Alternative Credit funds will provide the capital, while Goal will acquire and manage the loan portfolio.
The joint venture will invest across sectors including education finance, home improvement, solar loans, consumer instalments and other consumer asset classes.
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“This joint venture represents a significant milestone for Goal, allowing us to dramatically scale our acquisition capabilities while maintaining the disciplined underwriting standards that define our firm,” said Peter Sadowski, chief investment officer at Goal. “By combining Ares’ capital resources with our data analytics and operational platform, we are uniquely positioned to capitalise on the growing opportunities within the consumer credit landscape.”
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Goal has invested in the consumer sector since 2013 and acquired assets with a face value exceeding $2bn (£1.5bn), it said. While Ares is a global alternative investment manager and one of the largest in private credit, with over $595bn of assets under management.
“With the strength of Ares’ flexible capital, we look forward to supporting Goal as it seeks to expand its investment capabilities,” said Vincent Salerno, a partner in the Ares Alternative Credit Group.
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