In a significant move, Ares Management has closed its inaugural Ares Credit Secondaries Fund, amassing approximately $7.1 billion. The fund, which exceeded its initial $2 billion target, represents the largest dedicated institutional credit secondaries fund globally by LP equity commitments. Ares intends to build a diversified portfolio focused on senior secured, private equity-backed, floating-rate private credit assets. Investments will span LP-led transactions and continuation vehicle deals, reflecting the growing importance of secondaries in addressing investor liquidity needs. Blair Jacobson, co-president of Ares, emphasized the firm's early-mover advantage in credit secondaries. Dave Schwartz, head of Credit Secondaries at Ares, cited the strength of their strategy, supported by a large, specialized team.

This development comes as private credit markets continue to expand, offering alternative investment opportunities. Secondaries funds provide liquidity to existing investors while also enabling new entrants to access these assets. With over $595 billion in assets under management as of September 2025, Ares is well-positioned to capitalize on this trend.