Ares Management raises $1.99bn

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Ares Management has raised $1.99 billion to date for its Ares Private Credit Solutions. The Los Angeles-headquartered firm had set a target at $2.5 billion for the fund and started fundraising in February 2017.

Virigina Retirement System and Public Officials Benefit Association are the investors of the fund.

The fund will target mezzanine debt strategy in a diverse number of sectors in North America.