Antares Capital and Ares Management announced the closing of Antares’ first continuation vehicle with over $1.2 billion in commitments. The deal was led by Ares Credit Secondaries funds, along with a commitment from Antares.
The continuation vehicle was set up to acquire assets and limited partner interests from two co-mingled private credit funds, comprising over 100 underlying first-lien, floating-rate loans originated and managed by Antares.
The vehicle provided existing investors with an attractive liquidity option while offering new investors exposure to quality Antares-originated private credit assets.
Advisor: Evercore served as the exclusive financial advisor on the transaction.
KEY QUOTES:
“This transaction underscores our strong, long-standing partnership with Ares and our shared commitment to providing quality private credit opportunities. It also marks an important step in expanding the Antares platform and delivering new liquidity solutions to our investors.”
Vivek Mathew, president of Antares Capital Advisers
“We are pleased to welcome Ares as a lead investor and believe the successful close of our first continuation vehicle in today’s dynamic market highlights the quality of the Antares portfolio and the power of our origination and underwriting capabilities. We are committed to structuring differentiated liquidity options tailored to both LPs and GPs, leveraging our extensive private credit experience, deep relationships and focus on credit discipline.”
Ben Chapin, Head of Liquidity Solutions at Antares Capital
“Building upon our multidecade relationship with Antares, we are proud to lead this transaction, which represents Ares’ largest credit secondary investment to date. This investment underscores our team’s differentiated experience in private credit and secondaries and our ability to deploy scaled capital. We look forward to leveraging our global relationships with leading private credit managers to deliver creative liquidity solutions that meet the needs of investors.”
Dave Schwartz, Head of Credit Secondaries, Ares
