Ares Management raises €315.9 million for European fund
Ares Management has raised €315.9 million ($427.3 million) for its Ares European Real Estate Fund IV, formerly AREA European Real Estate Fund IV, according to a filing with the Securities and Exchange Commission. The fund was launched by AREA Property Partners in January 2012, prior to the firm’s acquisition by Ares Management in March 2013.
The opportunistic fund has a fundraising goal of €1 billion ($1.35 billion) and a target close date of March 2014. The fund will target investments across Europe, but it will focus the majority of its investments in the United Kingdom and Germany.