Ares Management Announces First Quarter 2024 U.S. Direct Lending Origination Activity
Ares Management (NYSE:ARES) announced closing approximately $9.3 billion in U.S. direct lending commitments in Q1 2024 and $29.6 billion in the 12 months ended March 31, 2024. Notable transactions include support for Aptean, Ardonagh Group, Artivion, Banyan Software Holdings, BMI, Clarience Technologies, CSI, ENTRUST Solutions Group, Equinox Holdings, Nelipak Healthcare Packaging, Premise Health, and The Ultimus Group.
Strong direct lending activity with $9.3 billion closed in Q1 2024 and $29.6 billion in the last 12 months.
Support for diverse industries such as software, insurance, medical devices, healthcare packaging, and more.
Participation in funding rounds for leading companies like Aptean, Ardonagh Group, and Equinox Holdings.
Potential risks associated with exposure to various industries and economic conditions.
Dependency on the success and growth of the companies funded through direct lending.
Possible impact of market fluctuations on the performance of the direct lending portfolio.
Approximately
NEW YORK, NY / ACCESSWIRE / May 2, 2024 / Ares Management Corporation (NYSE:ARES) announced today that funds managed by its Credit Group (collectively "Ares") closed approximately
Aptean / TA Associates, Insight Partners and Charlesbank
Ares served as a lender for a senior secured credit facility to support the sponsors' continued growth plans for Aptean. Aptean is a leading global provider of mission critical, vertical-market focused enterprise resource planning software primarily to small and medium sized businesses.
The Ardonagh Group / Madison Dearborn Partners and HPS Investment Partners
Ares served as the administrative agent and lead arranger for multicurrency senior secured term loans split across USD, EUR, and AUD tranches to support continued growth plans for Ardonagh, a leading, independent global insurance broker with a diversified set of capabilities across distribution, wholesale and underwriting services.
Artivion
Ares served as the administrative agent, sole lead arranger and sole book runner for a senior secured credit facility to support the Company's continued growth plans. Artivion is a leader in the manufacturing, processing and distribution of medical devices and implantable human tissues used in cardiac and vascular surgical procedures for patients with aortic disease.
Banyan Software Holdings
Ares served as the administrative agent, sole lead arranger and sole bookrunner for a senior secured credit facility to support Banyan's continued growth plans. Banyan owns and operates vertical software business units which benefit from the oversight of the company's management team and board, both of which are comprised of experienced software operators and investors.
Broadcast Music Inc. ("BMI") / New Mountain Capital
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support New Mountain Capital's acquisition of BMI. BMI is the world's largest performing rights organization, protecting the rights of and advocating for more than 1.4 million songwriters, composers and music publishers.
Clarience Technologies / Genstar Capital
Ares served as a joint lead arranger and joint bookrunner for a senior secured credit facility to support the acquisition of Safe Fleet by Clarience Technologies, a Genstar portfolio company. Clarience Technologies is a leading manufacturer of safety lighting, wiring harnesses, telematics systems, fuel filtration devices and other safety accessories for a variety of commercial vehicle end markets.
Computer Services, Inc. ("CSI") / Centerbridge Partners, Bridgeport Partners and TA Associates
Ares participated in an incremental senior secured credit facility to support the sponsors' continued growth plans for CSI. Led by its core bank processing product, CSI is a leading infrastructure software provider to community and regional banks in the United States.
ENTRUST Solutions Group / Kohlberg & Company
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support the continued growth of ENTRUST. ENTRUST is a leading consulting and engineering services platform serving the utility and infrastructure end markets by providing consulting, design, and engineering services to a broad base of customers.
Equinox Holdings
Ares served as a lender for a senior secured credit facility to support future growth of Equinox. Equinox operates upscale, full-service health clubs that offer an integrated selection of branded programs, services and products to meet the needs and active lifestyles of its members, including strength & cardio training, group fitness classes, personal training, spa services and other products.
Nelipak Healthcare Packaging / Kohlberg & Company
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Kohlberg's continued growth plans for Nelipak Healthcare Packaging. Nelipak® is a leading global manufacturer of rigid and flexible packaging solutions for medical device, pharmaceutical drug delivery and other demanding applications.
Premise Health / OMERS Private Equity
Ares served as the administrative agent and lead arranger for a senior secured credit facility to support OMERS Private Equity's continued growth plans for Premise Health, an industry-leading provider of employer-sponsored onsite health clinics/pharmacies and digital wellness solutions.
The Ultimus Group / GTCR
Ares served as a joint lead arranger and joint bookrunner for a senior secured credit facility to support GTCR's continued growth plans for Ultimus. Ultimus is a privately owned fund administrator with capabilities spanning fund administration, accounting, transfer agency and shareholder services.
About Ares Management Corporation
Ares Management Corporation (NYSE:ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2024, Ares Management Corporation's global platform had approximately
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SOURCE: Ares Management Corporation
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FAQ
How much in U.S. direct lending commitments did Ares close in Q1 2024?
Ares closed approximately $9.3 billion in U.S. direct lending commitments in Q1 2024.
What is the total amount closed by Ares in the 12 months ended March 31, 2024?
Ares closed approximately $29.6 billion in direct lending commitments across 253 transactions in the last 12 months.
Which companies did Ares support in the first quarter of 2024?
Ares supported companies like Aptean, Ardonagh Group, Artivion, Banyan Software Holdings, and more in Q1 2024.
What industries do the companies funded by Ares belong to?
The companies funded by Ares belong to industries such as software, insurance, medical devices, healthcare packaging, and more.
