Ares Management has closed its first dedicated GP solutions fund on about $4.2bn, more than four times its $1bn target. The total for Ares Global Structured Solutions Fund (AGSS) includes affiliated vehicles. The fund will provide flexible capital to private equity managers.
The Ares Private Equity Secondaries team will use the fund to support a range of GP needs. These include increasing managers’ commitments to their own funds, seeding new strategies with structured LP commitments, and financing succession plans. Co-president Blair Jacobson said the close reflects “the increasing demand for tailored GP solutions in today’s market environment”.
Source: PE Insights · Summarized by HeadlinesBriefing