Ares Management Corp. has completed the final closing of its Ares U.S. Real Estate Fund X, unlocking strong support from long-standing investors along with significant demand from our new investors.
The fund was oversubscribed with $1.8 billion of commitments, surpassing its $1.5 billion target, and is more than 75 percent larger than its predecessor fund, which closed at $1.04 billion in November 2018.
Through its latest vehicle, Ares continues to acquire and improve institutional-quality assets in historically attractive sectors, such as multifamily and industrial, with select investments in other major and adjacent property types to generate both income and appreciation for investors.
“The fund’s initial assets, which are focused on durable sectors and markets, stand to continue to benefit from long-standing secular trends,” said Howard Huang, partner and CIO of diversified U.S. equity at Ares Management Corp. “We look forward to building a diverse po