Ares Management Corp is targeting more than €11 billion for a new new European direct-lending fund, making it the continent’s largest direct lending fund to date, according to a report by Bloomberg.
Unnamed sources are cited as revealing that fundraising for the new Ares Capital Europe VI fund is slated to begin in the first quarter of 2023, while Ares has already begin courting potential investors.
In April last hear, the Los Angeles-based firm reeled it had raised €11 billion euros for the Ares Capital Europe V Fund, and Fund VI is looking to surpass that record total.
Institutional investors in the previous fund include California Public Employees’ Retirement System, Virginia Retirement System and Maine Public Employees Retirement System, according to data compiled by Bloomberg.
