Ares Management Corp., a publicly traded global alternative asset manager, has held the final closing of Ares U.S. Real Estate Fund IX, its ninth fund in the series. The fund closed at approximately $1.04 billion.
The fund primarily targets investments in multifamily, industrial and office properties located across the United States.
Through U.S. Fund IX, the firm continues the series’ value-add investing strategy of acquiring and improving institutional-quality assets through renovation and repositioning initiatives.
U.S. Fund IX received strong support from longstanding existing investors as well as from new entrants. The group of global investors included pension funds, insurance companies, sovereign wealth funds, endowments, nonprofits, foundations, financial institutions, including a private banking platform and an asset manager, and family offices. The equity raise was an increase from U.S. Fund IX’s predecessor fund, Ares U.S. Real Estate Fund VIII, w
