Private equity secondaries firm Coller Capital has led a $1.3 billion credit continuation vehicle for Ares Management, marking another major transaction in the growing secondary market for private credit assets. The deal follows Coller's recent agreement to be acquired by EQT, which is expected to close The continuation vehicle allows Ares to extend the life of existing credit investments rather than selling them, providing flexibility for both the asset manager and investors. Coller has been particularly active in the credit continuation space, having led multiple multibillion-dollar transactions over the past year as investors seek liquidity solutions for aging private credit portfolios.

This transaction underscores the increasing sophistication of the secondary market, where continuation vehicles have become a key tool for managing vintage-year risks and meeting investor redemption requests. The deal also highlights Coller's position as a leading player in credit secondaries, even as the firm prepares for its transition under new ownership.