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Ares Management closes oversubscribed $7.1bn second special opportunities fund

Ares Management Corporation (Ares), a global alternative investment manager, has held the final closing of its Ares Special Opportunities Fund II (ASOF II) at its hard cap of $7.1 billion of commitments, including General Partner commitments, way in excess of its $4.0 billion target.

In January 2017, the Ares Private Equity Group developed its Special Opportunities strategy as an expansion of its flexible capital investment activities and to be a non-control complement to Ares’ existing for-control private equity strategy. As part of an integrated Private Equity team located across the US and Europe, the Special Opportunities strategy comprises 24 investment professionals, led by six partners – Scott Graves, Aaron Rosen, Craig Snyder, Felix Bernshteyn, James Kim and Matt Underwood – who on average have approximately 20 years of investment experience. 

The Special Opportunities strategy seeks to invest in a range of private, special-situation opportunities and flexes into stressed/distressed public market debt when deemed attractive. Further, the team aims to partner with companies to enhance enterprise values and fill the void between for-control private equity and private debt. To date, the Special Opportunities strategy has deployed nearly $12 billion across a diverse portfolio, of which ASOF II has invested or committed approximately $3 billion, or roughly 45% of its investable capital base.

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