Robin Blumenthal
The senior credit fund, which includes long-term leverage, has exceeded its target.
The strategic opportunities vehicle is targeting investments striving for consistent cash yield.
The firm’s specialty finance Asset Income Fund V exceeded its $900m target.
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The target for the European fund has been exceeded, as Ares’ gross fundraising surpasses $40bn and net income more than doubles.
The New York-based manager has raised more than $4.1bn for the strategy over the past 10 months.
The A$7.5m instrument is said to be the first since 1933 to pay principal and interest in gold.
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Sources say Private Credit Fund IV has raised $855m in equity, more than half its $1.5bn target.
The cross-border linkup represents the US manager’s first foray into Europe.