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.
The Goodwin team was led by Sean Gruver, Josh Victor, Sam Baldinger, Vineeta Nangia, and Ally Gao, and included David Patton, Sonita Bennitt, Matt Stayman, Margo Borders, Bibek Pandey, and Patrick Menasco.
For more details, read the press release.