Ares Management has raised $8bn dollars for a fund making direct loans to small and midsize U.S. companies, escalating a fight between alternative-asset managers for market share in the burgeoning private-credit market.
Asset-management firms including Apollo Global Management, Ares and Blackstone Inc. are increasingly turning to credit funds to boost assets under management, a key driver of their stock valuations.
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Ares Management Corporation is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes.
Source: Wall Street Journal
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