Ares Management is seeking to raise more than $2bn for a new Asia-focused special situations fund, as it continues to scale its credit platform across the region, according to sources cited by Bloomberg.

The new fund is expected to match or exceed the size of Ares’ previous Asia special situations vehicle, which closed on $2.4bn in 2023. The firm is also considering the launch of a separate strategy targeting performing credit in Asia, though no fundraising target has yet been finalised.

The fundraising plans come as Ares strengthens its position in the region’s alternative credit market. Its Asia-Pacific credit strategy returned 27.2% in 2024 – outperforming all other credit strategies globally – and posted a 4.4% return in Q1 2025.

Ares has made a series of strategic acquisitions to expand its presence in Asia, including the 2020 acquisition of SSG Capital Holdings and more recent deals for Crescent Point Capital and GCP International (excluding Greater China). These moves have deepened the firm’s reach across sectors including logistics, digital infrastructure, and self-storage real estate.

As of Q1 2025, Ares managed $359bn in credit strategies, part of a total $546bn in AUM. The firm raised more than $20bn in the quarter and is aggressively targeting high-net-worth capital, with a goal of reaching $100bn in wealth channel AUM by 2028.

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