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Ares Management smashes target for $4.7bn fourth fund

22 Aug 2012

Los Angeles-based investment firm Ares Management has held the final closing of its $4.7bn Ares Corporate Opportunities Fund IV.

The fund exceeded its initial target of $4bn and is 35 per cent above its most recent private equity fund, ACOF III, which closed in 2008.

The Ares Private Equity Group is led by David Kaplan and Bennett Rosenthal.

ACOF IV will continue to implement the group’s philosophy by making investments in mid-market companies.

Among the current portfolio companies are GNC, LyondellBasell, 99¢ Only Stores, Nortek, Serta, and Simmons.

During its nine years since inception, the ACOF Funds have also made successful investments in a number of public and private portfolio companies, including Aspen Dental, Hanger Orthopedic, House of Blues, Maidenform and Samsonite.

“We greatly appreciate the tremendous support of our limited partners,” said Kaplan. “We believe their participation is reflective of their confidence in the strength of the Ares investment platform, the Ares Private Equity team and our expertise in the growth of middle market companies.”

“We are thrilled to have been able to accomplish this successful close in such a short period of time,” added Rosenthal. “We believe our proven investment discipline, ability to invest during all market cycles and consistent strong performance track record has been especially attractive to our limited partners in meeting their investment expectations.”

Ares’ investment activities are managed by teams in three investment groups – capital markets (leveraged loans, high yield, stressed/distressed, and structured products); private debt (corporate and commercial real estate) and private equity.

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