Ares Management Closes Record $34 Billion Direct Lending Fund with $15 Billion Equity Commitments

Jul 31, 2024, 01:36 PM

Ares Management has successfully closed its latest direct lending fund, amassing a record $34 billion. This fund represents the largest raise ever in the burgeoning private credit market. The fund includes $15 billion in equity commitments, surpassing the initial target of $10 billion. This significant capital base highlights the growing appetite from limited partners (LPs) in the private credit asset class. The announcement was made on Wednesday.