Ares Management Corporation (NYSE: ARES) announced the formation of its Ares U.S. Real Estate Opportunity Fund III, L.P. The fund, which targets distressed, repositioning, and selective development opportunities, was oversubscribed with approximately $1.7 billion of commitments compared to its $1.5 billion target.

This marks the largest U.S. real estate equity fundraise for Ares to date and is a significant increase from the $1 billion of commitments raised for the predecessor fund and related vehicles.

Ares is a leading global alternative investment manager operating integrated groups across Credit, Private Equity, Real Estate, and Strategic Initiatives.

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Source: Global Legal Chronicle

By  Martina Bellini