Ares Management joined the $200 billion club after the strongest fundraising year in its history, led by the largest European direct-lending fund ever raised.
The Los Angeles firm’s assets under management stood at $207.2 billion at the end of the first quarter, an increase of 39% from the same period a year ago, the firm said Thursday. Ares Chief Executive Michael Arougheti called passing the $200 billion mark a “major milestone,” noting that the firm surpassed $100 billion just four years earlier.
Earlier this week, Ares Management Corporation and The Conti Group sold interests in CS Energy to American Securities.
Source: Wall Street Journal
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