Ares Management, a leading global alternative investment manager with a strong reputation in the financial sector, has recently announced a significant achievement: it has raised approximately $5.3 billion for its Infrastructure Secondaries strategy. This total includes the final closing of its latest dedicated fund, known as Ares Secondaries Infrastructure Solutions III, as well as commitments from General Partners and affiliated investment vehicles.
Notably, ASIS III exceeded its initial fundraising target of $2 billion, ultimately closing with about $3.3 billion in equity commitments. This outcome reflects robust investor confidence and marks a remarkable growth, as the fund is now more than three times the size of its predecessor fund launched in 2021. The total capital raised from this initiative positions Ares Management among the leaders in large-scale infrastructure secondaries campaigns to date.
The strategic goal of ASIS III is to invest in a well-rounded and diversified portfolio of seasoned private infrastructure assets. The Infrastructure Secondaries team plans to employ a range of flexible secondary solutions to achieve this objective. These solutions include preferred structure transactions, which provide investors with specific rights and benefits; General Partner-led continuation vehicles that allow existing fund managers to extend the life of their funds; and traditional Limited Partner interest acquisitions that enable investors to buy out existing stakes.
The Infrastructure Secondaries strategy operates under the auspices of the Ares Secondaries Group, which boasts an impressive track record spanning over 30 years. To date, the group has managed nearly $34 billion in assets across multiple asset classes, including infrastructure, real estate, private equity, and credit, as reported on June 30, 2025. This extensive experience lends credibility to Ares Management’s investment strategies.
The Infrastructure platform is supported by a dedicated team of over 130 investment professionals, collectively managing more than $21 billion in assets. Additionally, the firm’s Quantitative Research Group plays a crucial role by providing valuable insights and analyses across private markets, helping to inform and enhance investment decisions.
KEY QUOTES:
“With this latest fundraise, we are confident that our leading Infrastructure Secondaries team is well-positioned to invest its substantial capital base in attractive value-creation opportunities. Over the last four years, our Secondaries business has accelerated its scaling and differentiation to meet the growing demand for creative liquidity solutions, leveraging the resources, capabilities and relationships of the global Ares platform. We have continued to emphasize product specialization across asset classes, including infrastructure, as we seek to better support private markets investors through cycles.”
Blair Jacobson, Co-President of Ares
“As private infrastructure reaches a new phase of growth and the infrastructure secondaries market becomes increasingly dynamic, we believe managers with experience, scale and creativity have an unprecedented investment opportunity. This fundraise is a testament to the strength of the integrated global Ares Secondaries platform and our team’s ability to innovate and find novel capital solutions to solve the challenges faced by Limited Partners and General Partners. We appreciate the outstanding support from our investors, and we look forward to the exciting potential growth ahead.”
Edward Keith III, Partner and Head of Infrastructure Secondaries
