April 6, 2021
Ares Management has hit a target-beating $1.7bn final close for its biggest real estate opportunity fund yet.
The firm was hoping to collect $1.5bn for Ares US Real Estate Opportunity Fund III, already a significant rise on the $1bn it gathered for Fund II and related vehicles.
Ares said it had already capitalised on what it believes is an attractive market opportunity “post-Covid-19” with nine investments committed to date.
David Roth, head of US real estate private equity at the firm, said, “We have been able to draw on our team’s deep market coverage, longstanding relationships and ability to navigate shifting market dynamics, and the experience of our US real estate equity Partners Jay Glaubach, Andrew Holm and Howard Huang, in an effort to source differentiated investment opportunities.