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Ares Management raises $431m for energy fund

by Jody Barhanovich

Ares Management has raised $430.8 million for its Ares Energy Investors Fund V, according to a filing with the SEC.

The closed-end fund will invest in U.S. energy and infrastructure. Ares hopes to raise $2 billion in equity commitments for the fund. The fund previously received a $50 million commitment from the $6.9 billion Contra Costa County (Calif.) Employees’ Retirement Association in 2015. 

In other news, Ares Management and investment partner TruAmerica Multifamily recently acquired a 1,402-unit multifamily portfolio in suburban Baltimore for $236 million. The portfolio consists of residential units spread across six properties located in submarkets of Baltimore.

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