Ares Management (NYSE:ARES) is launching its second Asia-focused private credit fund as global investment managers race to capitalize on the region's expanding private lending market.
The proposed Asia Direct Lending II Fund, which will finance leveraged buyouts across Asia-Pacific, could exceed the $1.7 billion raised by its predecessor, although details remain subject to change, sources told Bloomberg.
About 60 Asia-Pacific-focused funds managing more than $1 billion each are currently fundraising, accounting for more than 10% of global fundraising targets—well above the region's 5% share of recently closed funds, according to Bain & Company.
The imbalance points to a potential fundraising rebound in 2026 but also intensifying competition for capital as limited partners remain selective.
Read Also: Aegon, Lakemore Expand CLO Partnership With $12 Billion Growth Target Despite Challenges, APAC Funds Raise Capital Allianz Global Investors landed $744 million in investor commitments at the initial closing of its Allianz Asia Pacific Secured Lending Fund III.
