Ares Management has emerged as the lead buyer in a secondary transaction involving a private credit portfolio managed by Arcmont Asset Management, according to Bloomberg.

Arcmont is transferring loans from its third direct lending fund, which closed in 2019 with €6bn, or approximately $6.6bn, into a new continuation vehicle. The vehicle could raise as much as $2.2bn.

Pantheon is also a significant buyer, while PJT Park Hill is advising on the transaction.

The deal reflects accelerating momentum in private credit secondaries. Volumes nearly doubled to $20bn last year from approximately $11bn in 2024. The broader private credit market has expanded to around $1.8tn in recent years.

As dealmaking remains subdued, private credit managers are increasingly using continuation vehicles to extend asset hold periods while offering liquidity options to existing investors.

Ares has been actively building its exposure to this segment, raising $7.1bn earlier this year for its debut private credit secondaries strategy. Pantheon is also seeking at least $6bn for its latest credit funds.

If you think we missed any important news, please do not hesitate to contact us at [email protected].

Can`t stop reading? Read more.