Ares Management has orchestrated a €300 million continuation fund for Europastry, enabling MCH Private Equity to retain control of the frozen bakery business after the company scrapped its 2024 IPO due to market volatility. The single-asset vehicle, managed by Ares's secondaries platform, attracted investors including the Asset Management Umbrella Fund and existing backer Newbury Bridgepoint. This move highlights the growing importance of continuation vehicles as private equity firms adapt to delayed exit timelines.

Europastry, which operates in over 80 countries and generated €1.6 billion in revenue last year, now benefits from extended liquidity support. The deal underscores rising demand for structured transactions that allow investors to maintain exposure to high-performing assets during uncertain market conditions.