Ares Raises $7.1 Billion as Credit Secondaries Boom Continues

Ares Management Corp. collected $7.1 billion for its debut private credit secondaries strategy and expects the market for secondhand credit stakes to continue its rapid growth this year.

Ares Credit Secondaries Fund amassed $4 billion in equity commitments from investors, according to Dave Schwartz, head of credit secondaries at the firm, which manages more than $595 billion.