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.