Ares Management (NYSE:ARES) is moving to sell $3.4 billion of bundled interests in a flagship European direct-lending fund, potentially making it one of the largest private credit sales on record.
Ares is holding discussions with credit-secondaries investors to arrange a sale of limited partner stakes in the fourth vintage of Ares Capital Europe, Bloomberg reported, citing sources.
Talks are still underway, and there is no guarantee a deal will come to fruition, sources added.
Read Also: Private Equity Founder Pleads Guilty After $50M Investor Scheme According to Ares, private-credit secondaries market has been expanding quickly, as a growing subset of investors are utilizing the secondary market to address a broad range of liquidity and portfolio management needs.
In 2024, the credit secondaries transaction volume totaled $15 billion.
