Ares Management is leading a €300m ($346m) a single asset continuation fund structured through its secondaries platform, for frozen bakery company Europastry, which currently owned by MCH Private Equity, according to aa report by Bloomberg.
While the firm has declined to comment on the vehicle’s size, the report cites unnamed sources familiar with the matter as confirming the €300m figure.
Investors in the continuation fund include the Asset Management Umbrella Fund, advised by the European Investment Fund, alongside existing shareholder Newbury Bridgepoint. The structure allows MCH to maintain its stake in Europastry for a longer horizon.
This move follows Europastry’s decision to cancel its initial public offering for a second time in 2024, citing challenging market conditions and weak investor demand. MCH originally invested in the bakery in 2011.
Ares Secondaries Group deploys capital across private equity, real estate, infrastructure, and credit, managing over $42bn in assets as of the end of 2025.
Founded in 1987 by the Gallés family, Europastry operates in more than 80 countries with 30 production facilities and reported revenues exceeding €1.6bn last year.
