Ares Management significantly expanded its footprint across multiple alternative credit vehicles during the first quarter of 2026, according to a report by Reuters citing the firm’s latest Form 13-F filing with the US Securities and Exchange Commission.
The alternative asset manager, which announced a record $30 billion in Q1 fundraising earlier this month, disclosed a series of new and increased positions across business development companies (BDCs) and direct lending funds.
Among the most notable moves, Ares established a $53.3 million stake in medical device manufacturer Integer Holdings as of March 31. The firm also initiated smaller positions in two BDCs: BlackRock TCP Capital and Carlyle Secured Lending.
The filing reveals that Ares strengthened 17 existing holdings during the period. Within the BDC space—currently facing headwinds from tighter lending standards and AI-related disruption to software borrowers—Ares added to its positions in Golub Capital BDC and Blue Owl Technology Finance. The firm also increased its investment in its own listed BDC, Ares Capital Corp.
The only reduction came via the complete exit from New Mountain Finance, following that vehicle’s sale of a $477 million asset portfolio in February.
The quarterly disclosures underscore Ares’s continued appetite for private credit strategies despite broader market jitters around middle-market lending.
