Ares Management Corporation (Ares) has held the final closing of its Ares Pathfinder Fund, with USD3.7 billion in total commitments. The Fund was significantly oversubscribed at its hard cap and exceeded its original target of USD2.0 billion.
Ares and Pathfinder’s portfolio managers have committed to donating at least 10 per cent of the Fund’s carried interest profits to global health and education charities. Ares will partner with non-profit organisations that it has identified with a track record of delivering high value per charitable dollar contributed.
Pathfinder attracted strong interest from over 80 global investors with representation across North America, Europe, Asia, Australia and the Middle East diversified by type across public and corporate pension funds, sovereign wealth funds, insurance companies, endowments and foundations, family offices and asset managers. The Fund was well-received by new and existing clients of Ares, with approximately 34 per cent of commitments representing investors new to Ares.
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