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Ares Management Corporation Announces U.S. Direct Lending Origination Activity for First Quarter 2022
Rhea-AI Impact
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Rhea-AI Summary
Ares Management Corporation (NYSE: ARES) reported a successful first quarter in 2022, closing approximately $5.0 billion in U.S. direct lending commitments across 54 transactions. This marks a significant increase compared to $3.6 billion in the same period last year. Over the last twelve months, Ares closed around $35 billion across 287 transactions. Notable deals included financing for companies like New Mountain Capital and Catterton Partners. Ares continues to manage approximately $325 billion in assets globally.
Positive
Increased direct lending commitments: $5.0 billion in Q1 2022 vs. $3.6 billion in Q1 2021.
Substantial total commitments of approximately $35 billion over the last twelve months.
Diverse transactions across multiple sectors, indicating strong market presence.
Negative
None.
Approximately $5.0 Billion in New Commitments Closed in the First Quarter with Approximately $35 Billion closed in the Last Twelve Months Ended March 31, 2022
LOS ANGELES--(BUSINESS WIRE)--
Ares Management Corporation announced today that funds managed by its Credit Group (collectively “Ares”) closed approximately $5.0 billion in U.S. direct lending commitments across 54 transactions during the first quarter of 2022 and approximately $35 billion in direct lending commitments across 287 transactions in the last twelve-month period ended March 31, 2022. This compares to the $3.6 billion in commitments closed on 45 transactions during the first quarter of 2021 and approximately $14.5 billion in commitments for 168 transactions in the twelve-month period ended March 31, 2021. Below is a description of selected transactions that Ares closed during the first quarter.
3E / 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 3E. 3E is a leading global provider of data-driven intelligent compliance solutions in the Environmental, Health, Safety & Sustainability space.
AirX Climate Solutions / Catterton Partners
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support the growth of AirX Climate Solutions (ACS). ACS provides highly engineered cooling and ventilation solutions serving mission-critical applications across a diverse set of end markets, including telecommunications, data centers, educational, residential and industrial and commercial markets.
Community Brands / Insight Partners
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support Insight Partner’s growth plans for Community Brands. Community Brands is a leading provider of cloud-based software and payment solutions for association, education, and non-profit organizations.
Convera / The Baupost Group & Goldfinch Partners
Ares served as the administrative agent for a senior secured credit facility to support The Baupost Group and Goldfinch Partners’ acquisition of Convera. Convera is one of the largest non-bank providers of cross-border business payment and foreign exchange solutions processing in the world.
Covaris / New Mountain Capital
Ares served as of the administrative agent in a senior secured credit facility to support New Mountain Capital’s acquisition of Covaris. Covaris provides instruments, consumables and reagents associated with the pre-analytical sample preparation process.
Cranial Technologies / Eurazeo
Ares served as the administrative agent, sole lead arranger and sole bookrunner for a senior secured credit facility to support Eurazeo’s acquisition of Cranial Technologies (CT). CT is a leading provider of custom helmet orthotics for patients diagnosed with plagiocephaly or brachycephaly.
High Street Insurance Partners / ABRY Partners
Ares served as the administrative agent, sole lead arranger and sole bookrunner to support the growth of High Street Insurance Partners. High Street is a full-service independent insurance brokerage firm providing a broad array of business insurance & risk management, employee benefits & human capital management, financial & retirement services and personal insurance solutions.
The Mather Group / The Vistria Group
Ares served as the administrative agent, sole lead arranger and sole bookrunner for a credit facility to support The Vistria Group’s acquisition of The Mather Group (TMG). TMG is an independent wealth management firm offering comprehensive services to a diverse group of clients including high net worth individuals, families, corporate retirement plans and other institutions.
New Era Cap / ACON Investments
Ares served as the joint lead arranger and joint bookrunner for a senior secured credit facility in New Era Cap, a portfolio company of ACON Investments. New Era is one of the largest authentic licensed headwear and lifestyle brand in the U.S. and globally.
SageSure
Ares served as the administrative agent for a senior secured credit facility to support SageSure’s strategic growth initiatives. SageSure is a leading managing general underwriter and insurance technology innovator specializing in coastal residential property markets.
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, private equity, real estate 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, 2022, Ares Management Corporation's global platform had approximately $325 billion of assets under management, with approximately 2,100 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
