Nov 19th, 2025

Ares Sees Opportunity Ahead as Rates Fall

Private credit is booming, but it's not without risk. Ares Management’s Raj Dhanda says this is the moment when experience matters most. From underwriting discipline to navigating rate cuts and illiquidity risk — he joined Bloomberg Open Interest to break down how Ares is positioning for the next phase of the credit cycle, and why he thinks private markets still have plenty of upside.