Ares Management LP has priced its 44th collateralized loan obligation at $1.1 billion. The CLO, which is backed by the firm’s credit group, is expected to close before the end of the year.
LOS ANGELES–(BUSINESS WIRE)–Ares Management, L.P. (NYSE:ARES) announced today the pricing of Ares XLIV CLO Ltd., a $1.1 billion Collateralized Loan Obligation (“CLO”) and the second largest in the firm’s history. Ares XLIV was sponsored by Ares’ Credit Group and is the second largest broadly syndicated CLO in 2017. It is primarily comprised of broadly syndicated First Lien Senior Secured U.S. Bank Loans. The closing of Ares XLIV is expected by the end of the third quarter and is subject to customary closing conditions.
Ares Management is a leading global alternative asset manager and among the largest CLO managers with more than $13 billion in CLOs managed in the U.S. and Europe as of March 31, 2017. Ares XLIV represents Ares Management’s third CLO in 2017 with an aggregate amount priced or closed year to date of more than $2.3 billion. Ares sponsors and manages both corporate and real estate CLOs.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The securities to be offered have not been registered under the Securities Act of 1933 (the “Securities Act”) or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act and applicable state securities laws. The securities will be offered inside the United States only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and to persons outside the United States in reliance on Regulation S under the Securities Act.
About Ares Management, L.P.
Ares Management, L.P. is a publicly traded, leading global alternative asset manager with approximately $100 billion of assets under management as of March 31, 2017 and more than 15 offices in the United States, Europe, Asia and Australia. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its three distinct but complementary investment groups in Credit, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole. For more information, visit www.aresmgmt.com.