Private credit group Ares draws nearly $20bn from investors

ares management pulled in nearly $20bn from investors, with real estate and infrastructure commitments making up for softness in its core private credit business. the firm has been one of the biggest beneficiaries of the shift away from traditional bank lending, but the latest haul shows it's leaning on other asset classes to keep growing. the $20bn figure covers new commitments across ares' various strategies, though the firm didn't break out exact splits between real estate, infrastructure, and direct lending. the fundraising comes as some competitors have struggled to close large vehicles in a tighter rate environment.