– Antares Capital and Ares Management Corporation (NYSE: ARES) announced the closing of Antares’ first continuation vehicle with over $1.2 billion in commitments.
– The transaction was led by Ares Credit Secondaries funds, with a commitment from Antares.
– The continuation vehicle was created to purchase assets and LP interests from two commingled private credit funds comprising 100+ first lien, floating rate loans originated and managed by Antares.
– The vehicle provided liquidity for existing investors and access to Antares-originated credit assets for new investors.
– Vivek Mathew, President of Antares Capital Advisers, highlighted the partnership with Ares and the importance of expanding Antares’ platform and offering new liquidity solutions.
– Ben Chapin, Head of Liquidity Solutions at Antares, emphasized Ares’ role as lead investor and said the close reflects the quality of the Antares portfolio and origination and underwriting strengths.
– Antares is focused on structuring tailored liquidity options for both limited partners (LPs) and general partners (GPs) using its deep private credit expertise.
– Dave Schwartz, Head of Credit Secondaries at Ares, called the deal Ares’ largest credit secondary investment to date and noted it builds on a multidecade relationship with Antares.
– Ares sees the transaction as a reflection of its capabilities in private credit and secondaries, with plans to leverage global relationships to offer creative liquidity solutions.
