Ares Management and Antares Capital closed a second continuation vehicle with over $1.7 billion in commitments. Ares Credit Secondaries funds led the transaction alongside a commitment from Antares. The fund will acquire a portfolio of more than 300 first-lien, floating-rate loans originated by Antares.
The transaction provides liquidity to existing investors in an Antares-managed closed-end fund. New investors gain exposure to a mature, high-performing private credit portfolio. Antares will maintain management of the assets within the continuation vehicle.
This marks the second such vehicle launched by the firms within the past year. The previous fund reached $1.2 billion in commitments.