Ares Management Corp., a global alternative asset manager, has held a final closing of its inaugural, commingled U.S. senior direct lending fund, Ares Senior Direct Lending Fund (SDL). SDL was oversubscribed relative to its initial target of $2 billion in commitments, closing on approximately $3 billion of total commitments. Including anticipated leverage, the total capital for SDL is expected to be approximately $5 billion.
The fund is a natural extension of Ares’ longstanding investment strategy of offering institutional and retail investors access to senior secured, directly originated loans to quality North American middle market companies through a variety of vehicles. SDL will leverage Ares’ leading, national origination capabilities to provide senior secured loans to defensively positioned companies in a private, commingled fund format.
SDL attracted a broad and diverse group of investors, including 21 investors new to Ares. Ares also benefited from 24 exist
