Ares Management Corporation closed its sixth commingled European direct lending fund, Ares Capital Europe VI (“ACE VI” or the “Fund”). With total commitments of €17.1 billion, the Fund closed above its €15 billion target and reached its hard cap. Ares believes that ACE VI is the largest institutional fund in the global direct lending market to date based on LP equity commitments. The final Fund size represents an approximate 53% increase in LP commitments relative to its predecessor fund, Ares Capital Europe V, which closed in 2021 at its €11.1 billion hard cap. Including related vehicles and anticipated leverage, the total available capital for the Ares European Direct Lending strategy is expected to be approximately €30 billion.

Combined with the previously announced $33.6 billion of total capital raised for its Senior Direct Lending Fund III (“SDL III”), inclusive of related vehicles and anticipated leverage, Ares has closed on approximately $64.5 billion across its SDL III and ACE VI strategies – cementing its global market leadership.

“The final closing of ACE VI underscores the strength of Ares’ European direct lending platform as well as the strong demand from borrowers for flexible capital solutions,” said Blair Jacobson, Partner and Co-Head of European Credit. “We thank our existing and new investors for their confidence in our longstanding and differentiated strategy.”

“Over the past 18 years, we have continued to demonstrate our market leadership through our local pan-European approach,” said Michael Dennis, Partner and Co-Head of European Credit. “Our team’s deep regional and sector experience, alongside our longstanding sponsor and partner relationships, enable us to originate significant opportunities with high-quality borrowers.”

“Our platform provides the scale, experience and innovation to identify new opportunities and navigate unexpected challenges, and our team is eager to continue building on our track record of success,” said Matt Theodorakis, Partner and Co-Head of European Direct Lending at Ares. “We remain committed to the structuring discipline and selective capital deployment that have enabled our business to thrive throughout cycles.”