Ares Management Corporation, a global alternative investment manager, has held the final closing of its Ares Special Opportunities Fund II (ASOF II) at its hard cap of $7.1bn of commitments, including General Partner commitments, way in excess of its $4bn 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.
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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 $12bn across a diverse portfolio, of which ASOF II has invested or committed approximately $3bn, or roughly 45% of its investable capital base.
Source: Private Equity Wire
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