- September 1, 2018: Vol. 12, Number 8

To read this full article you need to be subscribed to Institutional Real Estate Europe

Ares holds €6.5 billion close for direct lending fund

by Andrea Zander

Ares Management has held a final closing for its fourth European direct lending fund, Ares Capital Europe IV.

Within six months of its launch, ACE IV was significantly oversubscribed relative to its initial target of €4.5 billion, closing at its hard cap of €6.5 billion of total commitments. ACE IV is the largest European direct lending fund raised to date.

The capital raised for the fund represents a significant increase from ACE IV’s predecessor fund, Ares Capital Europe III, which held its final close in May 2016 at €2.5 billion. Including anticipated leverage, the total available capital for ACE IV will be approximately €10 billion.

ACE IV will continue Ares’ strategy of providing flexible, one-stop and scaled capital solutions to mid-market companies across Europe.

Another recent final close was held by Exeter Property Group for its Exeter Europe Value Venture III, raising €750 million. The European fund is expected to invest as much as

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.