Ares Management (ARES) said Tuesday it raised approximately $7.1 billion for its credit secondaries strategy, including its first dedicated fund and affiliated vehicles.
The fund raised its original $2 billion target by securing roughly $4 billion in LP equity commitments, the company said.
The strategy focuses on building a diversified portfolio of private credit assets by investing in LP-led and continuation vehicle transactions, Ares said.
Ares Management shares were 3.9% higher in recent Tuesday premarket activity.
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