Ares Management Plans Major Secondary Credit Transaction

Ares Management Corp. is gearing up to execute a significant transaction involving secondary credit, equivalent to approximately €1.5 billion or $1.8 billion, as disclosed by individuals familiar with the situation.

The venture aims to set up a new continuation fund that will encompass several longstanding European loans previously part of Ares's principal direct-lending operations. Sources privy to the details, who requested to remain anonymous due to non-public nature of the information, have indicated this development.

An advisory firm is reportedly involved in facilitating this process, though specific details on the advisor have not been publicly confirmed.