The Real Estate Investment Funds team advised Ares Management Corporation (NYSE: ARES) on the formation of its Ares U.S. Real Estate Opportunity Fund III, L.P. The fund, which targets distressed, repositioning, and selective development opportunities, was oversubscribed with approximately $1.7 billion of commitments compared to its $1.5 billion target. This marks the largest U.S. real estate equity fundraise for Ares to date and is a significant increase from the $1 billion of commitments raised for the predecessor fund and related vehicles.
Ares is a leading global alternative investment manager operating integrated groups across Credit, Private Equity, Real Estate, and Strategic Initiatives.
For more details, read the press release.