Ares Management acquires $3.5b lender finance portfolio from Pacific Western Bank

Ares Management Corporation announced that certain funds managed by its Alternative Credit strategy have completed the acquisition of a $3.5 billion specialty finance loan portfolio from PacWest Bancorp.

The portfolio consists of high-quality, senior-secured, asset-backed loans with commitments of approximately $3.5 billion. The portfolio, which was originated by PacWest’s Lender Finance unit, is backed by assets across a variety of industries and asset classes, including consumer loans, small-business loans, timeshare receivables, auto loans, asset-manager and fund-finance loans, residential real estate loans, and commercial real estate loans.