Global alternative investment manager Ares Management Corporation (Ares), has launched the Ares Private Markets Fund, a new registered, continuously offered, non-traded, closed-end fund that intends to invest in an actively managed portfolio of private equity and other private assets principally through secondary market fund investments, and, to a lesser degree, primary fund investments and direct co-investments.
The Fund has been launched with more than USD250 million in initial capital, including investments from two significant institutional investors as well as a USD75 million investment directly from Ares.
Leveraging the strength of the global Ares platform and the depth of Ares’ Secondary Solutions Group, the fund intends to invest in a diversified portfolio of private equity fund stakes backed by leading private equity sponsors in both the US and Europe. Through Landmark Partners, Ares’ Secondary Solutions Group has a 30-year track record and is one of the largest and most experienced investors in acquiring secondary private fund ownership stakes in the alternative asset management industry. Ares’ Secondaries Solutions has more than 75 dedicated investment and research professionals and over USD22 billion in assets under management, as of 31 December, 2021.
