Ares Management Corp., a Los Angeles-based alternative investment manager, has raised $7.1 billion of commitments for its Ares Special Opportunities Fund II LP, surpassing its initial target of $4 billion.
In January 2017, the Ares Private Equity Group developed its special opportunities strategy as an expansion of its capital investment activities. The special opportunities strategy looks to invest in private, special-situation opportunities and stressed and distressed public market debt. The team aims to partner with companies, working to improve enterprise values and “fill the void” between for-control private equity and private debt. To date, the special opportunities strategy has deployed approximately $12 billion across its portfolio, of which ASOF II has invested or committed about $3 billion.
“Since the development of the Special Opportunities strategy in 2017, our team has focused on extending Ares’ position as a leading middle market investor by consistently supporting companies, management teams and sponsors through cycles and transformational change,” says Scott Graves, partner and co-head of the Ares Private Equity Group and head of special opportunities. Looking ahead, we are confident that the breadth of our Special Opportunities capabilities and the scale of the Ares platform will continue to drive sourcing and due diligence advantages.”