Ares Management has anchored two European mid-market continuation vehicles, displaying continued confidence in the region's secondaries market. The firm led Fremman Capital's CV for nursery operator Kids Planet, valued at over £400 million, and backed Spain's MCH Private Equity in a €300 million CV for frozen baked goods company Europastry.

Kids Planet has expanded from 82 to 270 nurseries since Fremman's 2021 acquisition, while Europastry grew revenues from €350 million to €1.6 billion during MCH's investment period. Fremman's Special Opportunities 1 fund has raised at least $569.55 million, with Ares joined by Committed Advisors and Kline Hill Partners in the transaction.

European GP-led secondaries volume surged 93% year-on-year in 2025 to $108 billion, outperforming other regions. The Ares deals follow the firm's participation in PAI's CV for ice cream maker Froneri and a secondaries structure for Apax Global Alpha de-listing, demonstrating the growing prominence of continuation vehicles in European private equity.