Ares Management's fifth flexible capital PE fund closes at $7.85 bln

Ares Management LP said April 25 that its fifth global flexible capital PE fund raised $7.85 billion, surpassing its $6.5 billion target. The $7.85 billion included $250 million of GP commitments mainly from employees and $7.6 billion from third parties. Ares Corporate Opportunities Fund V LP will invest mainly in North American and European businesses.

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