Ares Management scoops up $3.5bn loan portfolio from PacWest

• Barclays provided financing to Ares on the transaction while Stephens served as financial advisor to PacWest Bancorp
• Ares Management Corporation had approximately $360 billion of assets under management as of March 31, 2023
• PacWest is a bank holding company headquartered in Los Angeles

Ares Management Corporation has acquired a $3.5 billion specialty finance loan portfolio from PacWest Bancorp.

The portfolio is backed by assets across a variety of industries and asset classes including consumer loans, small business loans, timeshare receivables, auto loans, asset manager and fund finance loans, residential real estate loans, and commercial real estate loans.

“Our team is an established leader in providing creative and flexible solutions to asset-focused investment opportunities,” said Joel Holsinger, a partner and co-head of alternative credit in a statement. “Our scale, coupled with one of the more flexible mandates in the private credit market today, makes Ares Alternative Credit an ideal partner to the banking community as they optimize their balance sheets and strengthen their financial position.”

Barclays provided financing to Ares on the transaction while Stephens served as financial advisor to PacWest Bancorp.

Ares Management Corporation had approximately $360 billion of assets under management as of March 31, 2023.

Ares Alternative Credit had about $24 billion in assets under management as of March 31, 2023.

PacWest is a bank holding company headquartered in Los Angeles.